On (corporate) innovation.
A great find (via Investile Dysfunction) – The Ten Un-Commandments of Corporate Innovation, a sample:
Un-Commandment #7
Thou will not do inane cost-benefit analyses for disruptive innovative ideas
If an opportunity is truly innovative in a disruptive sense, your cost benefit analysis will be wrong. So instead of sharpening your pencils and determining the 10 year cash flows of the opportunity, focus on the market opportunity and ensure that if it works, the opportunity could be big. Innovation is about creating optionality to some extent. Will getting into a particular business or creating a certain innovative product or service give you an option on a potentially large market opportunity? That is where the analysis should be focused.
Read them all. Brilliant.
