Five Points of the Innovation "S.T.A.R"
Posted by Thomas Edwards on January 9, 2021 12:35 PM EST
Over the years, through reading and hands-on observation, it has become clear that being an "innovation STAR" requires balancing....
....five questions that determine how well and how significant an innovation can be put into action.
S.T.A.R= Strategy, Tactics, Activities and Results
Five Key "Hurdles" for innovators:
1. Do I (we) see the innovation opportunity?
2. Does the innovation opportunity seem plausible, even possible?
3. Do I (we) understand the innovation opportunity and does it fit me (us)?
4. Can I (we) succeed in developing, implementing and managing the innovation opportunity quickly, effectively and properously?
5. Is the innovation opportunity one that I (we) can sustain and defend over a long period of time?
The research also tells us that good management processes which have a bias to eliminating risk of failure, capital loss, image deterioration, strategic resource depletion or legal and ethical constraints require that each of these questions or "hurdles" are satisfied before taking action. Often times when the action is finally taken, the innovation's impact is reduced due to the need to eliminate the risks mentioned so that in the end the innovation often never reaches the fullness of its potential even when being implemented.