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Successful Innovation Management System or Serendipity?

by Edward J. Fern and Vladimir Liberzon

To be successful in innovation management, companies must establish a corporate culture that motivates project teams to maximize potential business benefits of project success and minimize potential negative impacts of project failure. Managing innovation is inherently risky. Many uncertainties about future events arise from both internal and external sources. Active risk management (ARM) recognizes that these uncertainties can be either threats or opportunities, and ARM endeavors to position the enterprise so that it enjoys most of the benefits of opportunity while avoiding most of the pain associated with threats.

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Successful Innovation Management System or Serendipity? November 2004

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Cutter Consortium, founded in 1986, is a global IT advisory firm helping organizations forge solutions to the business technology challenges they face. Through its research, consulting, and training, Cutter assists enterprises as they create, implement, and maintain IT systems and organizations that support business objectives and encourage innovation. Cutter pushes the thinking in the field by fostering debate and collaboration between thought leaders from different domains, countries, and disciplines. As a completely independent entity that has no special ties to vendors, Cutter Consortium is beholden to no one and dedicated to providing completely objective, unbiased information to its clients. Cutter Consortium gives you access to the top thinkers in IT.

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