The base rate in probability and statistics is important to consider when making judgments in innovation management as it can lead to hidden insights and opportunities.
Frugal engineering is the way to construct high-quality, robust, and simple products that are affordable and developed in emerging markets, focusing on the basic needs of customers.
The Three Box Solution is a strategy for leading innovation. It involves managing the core business, divesting practices that have lost relevance, and generating breakthrough ideas. The most challenging part of the strategy is divesting old practices and ideas.
