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Success in Innovation by Jan Verloop

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Summary II

Managing innovation for success aims to improve the odds and the best way to do that is identifying and understanding the conditions and contributors that tend to lead to failure. Key Unsuccess Factors (KUFs) are ‘avoidable standard mistakes’ and unsuccess in innovation is a failure that could have been avoided. The ten major KUFs are as follows:

1. Solution looking for a problem — The innovation is clever but does not solve the problem the way the customer would have liked it.

2. Too much optimism — Revenue forecasts in the business plan tend to be too high, particularly for the first years after the launch.

3. Not the right entrepreneur — Most entrepreneurs prefer to operate in a ‘Business as Usual’ environment; innovation needs ...

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