Question

What is to ‘Innovate’? Describe the ‘Innovation Portfolio’.

Answer 1

Innovation in its modern meaning is a "new idea, creative thoughts, new imaginations in form of device or method". Innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs.

Answer 2

Answer:

Innovation portfolio or Innovation Portfolio Management (IPM) is a particular tool to convert strategic priorities and objectives into innovation activities which are project-based. Based on the risk profile, innovation portfolio also provides a framework to transform rough ideas into real investment opportunities.

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