<p>Week 3: Sources of Innovation - Discussion</p><p>Innovation—Does Serendipity Apply? (graded)</p><p>Can accidents spur innovation efforts or is innovation a rigid process with no tolerance for accidents?</p><p>Responses</p><p>Responses are listed below in the following order: response, author and the date and time the response is posted. Response Author Date/Time Sunday - Innovation - Does Professor Chao-Hrenek 3/16/2013 9:59:57 PM Serendipity Apply? </p><p>Hello all, welcome to our 2nd graded discusison. The text suggests nine sections for a product business plan (please refer to text). Please discuss which section is most important? Why?</p><p>Dr. Chao-Hrenek</p><p>RE: Sunday - Innovation - Does Douglas Rohde 3/18/2013 9:53:13 AM Serendipity Apply? Obviously, all 9 sections are important however, I believe that number 7, "Identification and planning for key risks" (Tidd 301) is the most important. The main reason I believe this is that most companies tend to overlook this section or take it lightly. Without having a good understanding of the risks involved in the venture, a company will not be prepared, and therefore not plan, for the results of the consequences. In addition, risk should always be directly related to output and return. Without knowing what the risks are it is very difficult to assess the amount of funding that should be put in and how much return on the investment should be expected based on the amount of risk being taken. </p><p>RE: Sunday - Innovation 3/18/2013 10:16:08 AM - Does Brandy Spurlock Serendipity Apply? While I'm not so sure that #7 is the important, I do see how it could have a large impact on most companies. If a company does not identify and plan for key risks they could find themselfs into trouble and not sure how to get out. As you state, without having an understanding they might not be prepared. I think that accidents can occur that can be seen as a risk but might turn out to be a benefit and enhance the company in ways the company might not have thought on their own. </p><p>RE: Sunday - Innovation </p>