The Recipe for Innovation Proficiency
Rita Mcgrath Newsletter
Sound familiar to the MDG fans
Here is a list of the ingredients needed for the recipe:
• An appropriate governance and funding mechanism.
• A balanced portfolio across different levels of uncertainty.
• A mechanism to identify and test assumptions, at the absolute lowest cost.
• The ability to stop or redirect ventures .
• The ability to learn from intelligent failures.
And, essentially, these three competences:
1. Ideation (getting good ideas)
2. Incubation (nurturing them into an actual business concept) and
3. Acceleration (bringing them to market with the mainstream business)