Comments on: Innovation: Drivers and Constraints http://www.bqf.org.uk/innovation/2006/05/26/innovation-drivers-and-constraints/ The BQF Innovation Unit Blog Tue, 06 Jan 2009 20:36:59 +0000 http://wordpress.org/?v=2.6.2 By: David Hughes, the Business Innovation Group LLP http://www.bqf.org.uk/innovation/2006/05/26/innovation-drivers-and-constraints/#comment-13 David Hughes, the Business Innovation Group LLP Wed, 25 Oct 2006 14:29:27 +0000 http://www.bqf.org.uk/innovation/2006/05/26/innovation-drivers-and-constraints/#comment-13 I am glad that Alan has raised this important connection of risk and innovation. The Stock Exchange through the combined code has encouraged Boards to focus much more on risk. I wonder how many Boards put equal focus on innovation? If they did it might just be the stimulation that management needs to create more value adding products & services. I am glad that Alan has raised this important connection of risk and innovation. The Stock Exchange through the combined code has encouraged Boards to focus much more on risk. I wonder how many Boards put equal focus on innovation? If they did it might just be the stimulation that management needs to create more value adding products & services.

]]> By: Paul Sloane http://www.bqf.org.uk/innovation/2006/05/26/innovation-drivers-and-constraints/#comment-12 Paul Sloane Wed, 25 Oct 2006 14:29:02 +0000 http://www.bqf.org.uk/innovation/2006/05/26/innovation-drivers-and-constraints/#comment-12 Demands for certainty and risk aversion are clearly two key inhibitors to innovation. If it is demanded that any new venture must provide a particular minimum return on investment then that will dissuade people from trying risky (but potentially exciting) innovations. They will tend to implement safe product extensions only. There is a big risk in avoiding the risky. You end up in a stale backwater and miss the boat. Innovation is risky - but so is standing still in a fast-moving world. Demands for certainty and risk aversion are clearly two key inhibitors to innovation. If it is demanded that any new venture must provide a particular minimum return on investment then that will dissuade people from trying risky (but potentially exciting) innovations. They will tend to implement safe product extensions only.

There is a big risk in avoiding the risky. You end up in a stale backwater and miss the boat. Innovation is risky - but so is standing still in a fast-moving world.

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