Technology Innovation is often viewed as an inscrutable art conducted without process, simply relying on brainstorming and intuition. While intuitive insights and informal brainstorming play a part in innovation, technology management and the creation of intellectual property; the process is more systematic than one might realize. There is a growing recognition that innovation on the Front End requires different management methods than the Formal Product Development process. Delivery of a successful innovation in product development requires both the development of a winning concept and plan AND the ability to deliver the solution to market, one that is a linear process and one is an iterative process.
However, risk can never be mitigated to the point where everyone in the decision chain is completely comfortable. Product development innovation always involves a change to an existing order and is inherently risky, causing a threat in addition to offering opportunity. Robert Brand in Roberts Rules of Innovation cites, the place where innovation is most likely to flourish is not at the core of an organization but at the edge, “where the weight of inertia is less inhibiting and where disruptive initiatives are more likely to be tolerated.” These edges are described as peripheral areas where growth has the highest potential. Being on this edge of innovation can also have the most potential risk.
By contrast, the “core” of an organization or market is where the money and resources are located. The core of said organization is also the most resistant to change. The core makes up the central or essential part of a company, market, or industry.
In order to sustain innovation, risks must be undertaken. No Risk: No Innovation. Innovation and Technology can be managed, the risk can be partitioned but, it will exist.