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Innovation ideas are infinite. Selecting the right ones to pursue is hard. Cost-Impact screening is a useful way of thinking about which ideas to go for.
Both Cost-Impact should be considered from 3 angles:
If not sure, always go for the ideas with maximum positive impact and minimum cost.
It’s important to notice the ‘triple bottomline’ approach. Because both cost and impact have to be discussed not just in terms of money, but also in terms of how it will affect individual people, whole societies and the planet as well.
Simple methodology for screening ideas by Blueshift.