The first step in transforming strategy from a hopeful statement about the future to an operational reality is to allocate resources to innovation and new product development (NPD) programs. We explore how funding authority affects a manager's allocation of resources between multiple programs in...

As innovation is critical in driving growth and competitiveness, companies establish innovation (or new product) portfolio processes to select the “right” innovation projects and allocate the necessary resources. These processes have attracted considerable interest from both academics and...