When selecting innovation projects, committees often prefer consensus, funding only clearly successful ideas, leading to incremental innovations, rather than taking risks on disruptive ones.
Research indicates that common decision-making methods like voting, scoring, and ranking can significantly influence the selection of projects, with ranking often emerging as beneficial in various contexts.
Venture capitalists tend to choose projects based on disagreement and differing perspectives, which can lead to funding more innovative options compared to consensus-seeking committees.
The decision-making process in organizations must consider multiple factors to effectively combine individual assessments, particularly when dealing with new technologies or untested markets.
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