Innovative decision-making key to unlocking competitive advantage in companies
The article explores how companies make decisions about which new product ideas to pursue. By studying three Swedish companies, the researchers found that decision makers face challenges in selecting and prioritizing innovative projects. They developed a process for decision making in innovation, highlighting the need for organizations to navigate uncertain situations and reach a collective understanding of their goals. Different approaches to decision making and understanding innovation can impact a company's ability to innovate effectively. Ultimately, organizations must adapt to varying levels of acceptance for different decision-making methods to maximize their innovative potential.