The three innovation portfolio mistakes is one of the things that one should make sure that they learn when it comes to innovation. Some of the things that happen mostly is that in big companies they always tend to allocate the resources which are there inefficiently, they are also not able to kill the initiatives which are not working and also they pursue few initiatives. The reason why some of these mistakes tend to happen is that the large organizations are always very comfortable with the big swings which are not good.
One of the things when it comes to the innovations is that most of the innovations initiatives which they most undertake mostly fail and with this it is always very hard for them to see it and also very hard for one to admit it. Some of the things that one is very sure of when it comes to the big companies are that most of the things and also the initiatives are always killed way before they can be launched which is very bad.
One of the things that usually happen is that with the innovations there is always an internal sales friction and with this the executives are the ones who become very reluctant with whatever they are doing which is not very good and thus they undertake risky endeavors at the long run. The corporate politics are always there and with this one department tends to fight the other and with this one does not see any change and this forces against the innovations which may be there, and they also tend to kill the initiatives which are already there. There is also the coordination challenges and we have the other antibodies to change everything.
When the large organizations want to have a change, they can always make sure that they have some startups and with this, they are able to rise up very quickly. When it comes to the traditional approach of things, they always result in having poor average results, also having high outcome volatility and also deeply inefficient resource allocation and we also have the high outcome volatility. When it comes to the corporate venturing one should always know that this is always an additional strategy and not a replacement in any way and with this one should make sure that there is the harmonizing of the financial and also the strategic imperatives, there is also the overpaying of the deals which are there, the building and also retaining of a quality team which is very good and one should make sure that there is also the coordinating with the mother ship which is always a plus for everyone.