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Christian Tevesch and Karl Ulrich are world-renowned professors at the Wharton School of Business. They offer the world's most popular innovation courses. They believe that high-efficiency innovation not only comes from increasing R & D investment, but also from systematic identification of more unique opportunities.

How to create and choose the next big opportunity

Author :( US) Christian. . Juric

Translator: Wu Huiqiong

Publisher: Renmin University of China Press

ISBN: 9787300151427

Publication date: April 2012

Folio: 16

Page: 232

Edition: 1-1

The innovation contest is a contest of opportunity. Opportunities originating within the enterprise are combined with opportunities originating from the outside of the enterprise, competing with each other, and surviving the fittest. In the end, only special opportunities that can bring the highest expected benefits can stand out and only companies that find this special opportunity can succeed.

From Apple ignoring the tradition of launching heavier, larger, and more expensive iPods, to Merck's finding a drop in 10,000 compounds, to London's player selection for the 2012 Olympic Games, the author of this book Cases from all walks of life have proved the effectiveness of the innovation rules proposed by himself.

How to create and choose the next big opportunity

introduction

Chapter 1. The race for innovation is the race between opportunities

Designers use innovation competitions when designing logos for terrapass. They conceived hundreds of ideas and made 23 of them into icons. In the end, one of the most eye-catching designs became a symbol of terrapass. An innovative competition is a competition between opportunities. All participants compete on the same stage. Only the best can stand out.

Chapter 2. Team Buildup: Creating Opportunities from Inside

A team of 47 senior project managers, each submitting 5 business ideas and evaluating 100 opportunities offered by their teammates. The results of the quality assessment show that the top opportunities are just the best of ideas. Forming the best team and using it to your advantage creates the best opportunities.

Chapter 3 Surprises Are Around You: Finding External Opportunities

Matt Schultz occasionally tasted a drink that could dispel fatigue in Thailand. After a little modification, he pushed the drink to the world and set an amazing sales record of more than 100 million US dollars. This drink is Red Bull. Just by looking closely, innovators can spot opportunities in their surroundings.

Chapter 4 Elimination Is Necessary: Screening Opportunities

In order to find the best of the 234 opportunities, 47 senior project managers screened according to the following procedures: first round, scoring with a network system; second round, holding innovation seminar discussions; third round, incomplete information Subjective and objective decisions are made on the basis of objective criteria and data. A good opportunity screening process should meet two conditions: efficiency and accuracy.

Chapter 5 Makes You So Different: Strategy Drives Opportunity

The ipod has new attributes such as large capacity and fast computer connection. Even though it is larger, heavier and more expensive than competitors' products, it still quickly stands out from similar products. Innovation can be a pulling process, guiding the generation of new opportunities, and exerting their highest strategic value; it can also be used as a driving process, bringing an interesting set of opportunities into a series of screening steps.

Chapter 6 Short-term Profits: Analyzing Close-up Opportunities

The Swedish abb company used the innovation return curve to give the expected return of the opportunity when selecting the opportunity. Investment is only possible if the expected return greatly exceeds the opportunity for the required investment. Close-up opportunities have only a small amount of uncertainty. With quantitative financial analysis, you can estimate the expected return of an opportunity and find the best opportunity.

Chapter 7 1 + 1 Doesn't Always Equal 2: Establishing Optimal Opportunity Combinations

The coach responsible for the formation of the Olympic football team will not only recruit the 11 best players, as 5 of them may be goalkeepers. By the same token, you can't build the optimal combination of opportunities by picking out the most valuable individual opportunities, because good individuals need to be interdependent.

Chapter 8 Maximizing the Probability of Success: Managing Vision Opportunities

For Dean Carmen, the Segway personal transporter is a visionary opportunity. He expected sales of 40,000 units per month in the first year, but Segway only sold 23,000 units in five years. The risks of investing in Vision Opportunities cannot be avoided, but you can maximize your chances of success.

Chapter 9 Being a Winner or Loser: Identifying the Best Opportunities

To produce a new drug, a pharmaceutical company needs to study 10,000 newly discovered compounds; a movie studio needs to consider only 200 to 500 scripts to make a movie. The funnel for screening opportunities is diverse and you have to choose the most suitable funnel for your opportunity.

Chapter 10 4 Decisions Decide Success or Failure: Management and Governance Opportunities

Should your organization learn that Herman Miller depends on the outside to create opportunities? Learning McDonald's focused product development? Study American Idol to compare opportunities? Learning Google uses the "20% time" concept to strengthen the culture of innovation? Whether you can find the answer to this question determines whether you can make, make a good decision about management and governance opportunities.

Chapter 11 Finding the Next Big Opportunity

Treating innovation as a manageable process is an important revolution. High-efficiency innovation not only comes from increased investment in research and development, but also from the systematic identification of more unique opportunities. If you are looking for innovation, you will definitely find your next big opportunity in this book!

Translator's Postscript