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In the apparel sector, for instance, the unusually warm winter temperatures across Europe and the U.S. Drawing upon the UK’s retail sectors for empirical evidence, we developed a methodology to assess and hedge the exposure of sales to weather risks. last year triggered shortfalls in sales, store closures, and job cuts.
I talked with Rita McGrath, a professor at Columbia Business School, who together with Ian MacMillan, of the University of Pennsylvania’s business school, developed this classic methodology for planning innovation. Essential to the methodology is the continual updating of your assumptions and checkpoints.
METHODOLOGY. apparel, automobiles, retailing, media, hotels, restaurants & leisure); Consumer Staples (e.g., Maintaining a diversity of political perspectives is an important consideration to ensure that boards are equipped to anticipate and tackle the multitude of challenges that confront companies today.
In most cases, that budget level produces a small innovation team that may be doing some concept development work, trend scouting, or training employees on innovation methodologies — but isn’t having a broad impact on the company.
Methodology This survey was conducted through a partnership between Professor Boris Groysberg and Yo-Jud Cheng from Harvard Business School; WomenCorporateDirectors Foundation, led by Susan Stautberg; Spencer Stuart, led by Julie Hembrock Daum; and independent researcher Deborah Bell.
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