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Innovator's Toolkit: 10 Practical Strategies to Help You Develop and Implement Innovation by Harvard Business School Press

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3

Recognizing Opportunities

Innovator as Entrepreneur

Key Topics Covered in This Chapter

  • A method for recognizing value
  • Rough cut business evaluation of opportunities
  • Tips for enhancing opportunity recognition

CHAPTER 2 DESCRIBED the many sources of innovative ideas and what management can do to generate them. Ideas are fuel for the innovation process. By themselves, however, they benefit no one. Someone must see in a particular idea its potential for creating value—opportunity recognition. There’s a big difference between an interesting idea and an idea that represents real business or societal value. Can you tell the difference?

Opportunity recognition has been defined by Mark Rice and Gina Colarelli O’Connor as “the match between an unfulfilled ...

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