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Innovation return formula and Innovation-return-calculator

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Gerhard Hube

Neuer Open-Access-Beitrag

Innovation return formula and Innovation-return-calculator

Development of an evaluation method for innovation ideas and projects

The discussion about the great importance and high effectiveness of innovation for the survival of companies (Maaß/May-Strobl, 2016, p. 1), especially in the SME sector (Kaschny, et.al., 2015, p. 15) and even for societies as a whole has been intensively discussed both currently and for several decades (OECD, 2018, p.3). Building on the first paper on the innovation status formula (Hube, 2022), in which the "aggregate states" "was" and "is" of an innovation were discussed, the aggragate state of "will be" will now be analysed as the future potential of innovation ideas or projects.

Gerhard Hube: Innovation return formula and Innovation-return-calculator

"Innovations are often more like gambling than an investment" (Hauschildt et al., 2016, p. 403)

The development of innovation ideas and projects into successful solutions on the market is a major challenge and the result is still very low success rates (section 1.1). Success factor research and other studies have identified poor quality in the evaluation and selection of innovation ideas and projects as one of the reasons for this very low success rate (section 1.2). This gives rise to the need for a new evaluation methodology and also the objective of this thesis, which is presented in section 1.3. Finally, section 1.4 defines the requirements for the new evaluation methodology in order to be able to develop a methodology that is as effective and application-orientated as possible.

Report of research semester – Summer term 2023
THWS Business School
Technical University of Applied Sciences
Würzburg-Schweinfurt

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