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Breaking Innovation XI – Die Illusion von Strategic Finance – LinkedIn Micro-Series


Traditional finance theory has a very limited use when it comes to innovation goes she offers almost no instructions to estimate future cash flows, although these, if not more, at good decision making is just as important as the methods and procedure for analyzing cash flows in short there is no strategic finance these are not my words they are words by david teece at berkeley university california the icon for innovation research par excellence what he means and how exactly that illusion of strategic finance can become a breaking point for innovation find out in this micro series on breaking innovation my name is thorsten reiter and i'm glad you made your way to the tenth video of this series for all previous videos just click on the follow button in my linkedin profile or check out my youtube channel where I have put all the previous videos for you like now several times As mentioned above, when it comes to seizing opportunities, the most important thing is the right one timing and the right balance of investment nevertheless, we ultimately have to ask ourselves the question of resource allocation ask what is the right number of investment phases what is the right one time and what is the right balance of financial expenditure and this decision has to be made after two factors technical factors and human factors as we discussed in previous videos the human factor relates to the assessment of innovation managers this is supported and informed through an intensive exchange with the external innovation ecosystem and external innovation stakeholders the technical factors are used to do this to question or prove the assessment and the Investment decisions can also inform these two factors are not separated from each other because two different ones decision-makers who will apply the same technical factors nevertheless make different assumptions that is based on these assumptions will be made despite the same technical factors different results are complicated by the fact that innovation manager is usually not the one investment decision at the end it is only because this process applies support the innovative ability of companies But to work effectively, both factors go hand in hand aside from the discussion about different strategic filters like we did in the video five have discussed, there is an increased one in exceptional situations need of the so-called technical specificity in the company on in exceptional situations such as the corona crisis, companies prefer to rely on hard any innovation managers pay as on the soft assessment only this is quasi when it comes to market or even absolute world novelties impossible decision-makers then desperately search for performance indicators that in the end are just as much a part of the hair as they are future visions that you are trying to support therefore the initial sentence of david teece strategic finance is an illusion when it comes to financial assessment an innovation can never go without the strategic objectives success one example was the investments around the converting the production process from vinyl records to cds cds' profit margin was well below that of vinyl records from a financial perspective So it made no sense to invest in the lower-margin business From today's point of view, the decision of vinyl to cds is of course change at the time an absolute no brainer but you have to take into account that the success of the data carrier at no point in time another example to underpin this was the security shift of dvds and blue ray a technology that never ends That has always prevailed when it comes to the assessment of innovation goes and financial objectives above those of strategic ones stands the innovation ability hurts instead a symbiosis must be found will be pure numbers of technical factors and human factor blindness is a real breaking point how do you see that you are one yourself real numbers apostles you try the future based on past data to predict or do you think that such a future version is just nice expected and will be ineffective that we write the comments and let's discuss if you liked the video then liked share it with your contacts and click on the follow button in my linkedin profile you can also check out youtube where I have all the previous ones have deposited videos for you then the next video is about co-specialized intangible assets or we do the math world is as we like it

Source: Youtube

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