Innovation Tournaments are internal competitions where teams of peers work together to identify a new opportunity for the business, develop a relatively complete and well-thought-out business plan for it, and then pitch it to an internal venture board, generally in order to get funding for taking the concept further, understanding that concepts which prove strong enough may ultimately make their way all theway through to final implementation, thereby providing an excellent method for surfacing and funding non-core, and potentially breakthrough or disruptive, business innovations.
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Organizations should be aware that in the Evaluation process of Stage 3 of the GInI InMS, the confidence level around certain metrics can be low given how far out in time they are from the present, and thus a certain amount of subjectivity and judgment will be inherent in the process.
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One of the Program Leader's jobs in relation to Engagement is to select and deploy the engagement mechanisms most suited to special needs that arise from different functional groups and/or business units in the business.
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