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Scott Anthony and Matt Eyring, writing in the Harvard Business blog, compares managing an innovation portfolio to the annual baseball draft. The similarities are quite remarkable!
The authors compare approaches to assembling the best talent, acquisitions, scouting out new players/opportunities, and dealing with inadequate information - there's no way you can know which player or idea will become a superstar. Therefore, you need to have metrics in place to measure progress so you can nurture the promising ones and cut your losses on the others.
This is a very well-written article, and I highly recommend it! |
