A Scientific Approach to Innovation Management: Evidence from Four Field Experiments

The model shows that managers and entrepreneurs make better decisions under uncertainty if they adopt a scientific approach in which they formulate and test theories. The model predicts that
they are more likely to terminate projects with negative returns, commit to projects with positive returns, or pivot to projects with higher returns. These implications are tested by combining the results of four Randomized Control Trials (RCTs) involving 754 start-ups and small-medium enterprises and 10,730 data points over time. The empirical analysis corroborates the predictions of the
model.

Policy implications 
A scientific approach to decision making can improve entrepreneurs' abilities to discard unprofitable ideas and identify more promising ones, saving them time and money by avoiding redundant pivoting. Including scientific approach training to early stage support programmes can make them more effective and efficient, by shortening the time dedicated to either refining or discarding a business idea.
Reference 
Camuffo, A., Gambardella, A., Messinese, D., Novelli, E., Paolucci, E., & Spina, C. , 2021. A Scientific Approach to Innovation Management: Evidence from Four Field Experiments.