Our most recent Innovation Leader Live conference call for members featured Deborah Arcoleo, who runs the Advanced Innovation Center of Excellence at The Hershey Company. Below is a two-minute excerpt in which Arcoleo talks about measuring the value of experiments — like using a 3D printer to make candy — and the role they can play in reducing innovation risk.
“Risk is a function of how much is unknown in the area in which you’re innovating, and how much you have invested,” Arcoleo says. “If the amount of what you don’t know is very, very high, which it often is, then you want to make sure your investment is really, really low.”
The full audio and text of the call are here, and last year we published a piece by Arcoleo, “Sweet! Four steps Hershey’s uses to reduce innovation risks.”
Our next call, in February, will feature David Butler, VP of Innovation and Entrepreneurship at The Coca-Cola Company.