[vc_row][vc_column][vc_column_text]The concept of an innovation portfolio is still new to some organizations; however, it's been a topic of conversation among innovation professionals for years.
In 2014 Harvard Business Review (HBR) published the article, Managing Your Innovation Portfolio. They found on average high-performing organizations focus 70% of their innovation resources on core or incremental offerings, 20% on adjacent offerings, and 10% on transformational initiatives. Even though the average was a 70:20:10 spread, they still reference other successful models depending on your industry and your level of ambition and allocations.
The biggest take-away from the HBR report and subsequent reports is that for an innovation program to be successful, the focus should be a mix of incremental (core), adjacent and transformational initiatives. This mix will enable a program to deliver results both in the near term and long term.
In addition to finding the right balance, organizations need to have the right resources to deliver. ... Read More