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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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10

Placing Strategic Bets

The Portfolio Approach

Key Topics Covered in This Chapter

  • Using the concept of portfolio management
  • Mapping innovative projects by risk and return potential
  • A method for quantifying project risk

GOOD COMPANIES HAVE more ideas than they have resources to develop and exploit them. The concept of the idea funnel in chapter 5 was used to describe a process through which many ideas were winnowed down to the few on which the company will place its bets. That discussion did not, however, consider how innovative ideas can be handled in the context of company strategy and the risk-reward characteristics of individual projects and of those projects as a group.

Company strategy describes how an enterprise aims to differentiate ...

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