The Taco Bell Waffle Taco was the result of a team development effort. This is an example of a new venture group (NVG) identifying, evaluating, and cultivating a venture opportunity.

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New venture groups usually have a larger mandate than a typical R&D department. Their involvement extends beyond innovation and experimentation to coordinating with other corporate divisions, identifying potential venture partners, gathering resources, and actually launching the venture. Strategy Spotlight 12.5 shows how Taco Bell has used an NVG to improve its CE efforts.

The Taco Bell Waffle Taco Was the Result of a Team