When moving a new product or service through the development cycle, there are generally four outcomes a New Product Development (NPD) team can expect. Two of these outcomes are especially good – although which ones they are might surprise you. It may seem counterintuitive, but one of the positive outcomes does not result in revenue – or even a product – and organizations must learn to embrace this notion.
Excellence in innovation execution is common In the first part of this article series we argued that that the scope and nature of innovation is changing. Big Data, Social Innovation, Additive Manufacturing (3D-Printing etc.) Design Thinking, Lean Start-up, etc. are becoming Good Practice in innovation management. We argued that in “making innovation things right”, i.e. in the back-end of the innovation funnel, many firms have established strong procedures and Product Lifecycle Management systems. This is good, but not good enough to take a leading spot in the innovation race. The innovation race is won by doing “the right innovation things”, i.e. becoming more effective. The term “Fuzzy Front-End” (FFE) has been established for the early stage of innovation which determines the innovation effectiveness and hence ultimately innovation success. We wanted to better understand where leading firms are setting their priorities in the FFE currently and where they see things going in the
Alekasandro Grabulou, director of innovation & development of Philips, talks about key tools for redefining the role of innovation in a fast-paced era. Philips is a leader is health care, consumer lifestyle, and lighting. And, they fused their front end and back end innovation efforts, with great results and a compelling story.
It is now abundantly clear that incremental innovation only keep the Sharks away long enough to come up for air and that it takes breakthrough innovation to swim out into the Blue Ocean, where opportunities are plentiful.
Right now I’m in the midst of revising my book Make a Mess: Daily Prompts + Projects for Rediscovering Your Creativity and Living a More Playful Life. (It comes out on February 9th. Eeeek.) One of the most terrifying parts of writing a book, and...
Countless studies illustrate that all over the world and in many industries “innovation” has a top spot on the management agenda. At the same time, we observe that the scope and nature of innovation is changing with concepts like Big Data, Social Innovation, Additive Manufacturing (3D-Printing etc.) and Design Thinking becoming Good Practice in innovation management. In their search for innovation success, firms have established solid practices in “making innovation things right” (i.e. efficiency in the back-end of the innovation funnel with strong procedures and Product Lifecycle Management systems). This is good, but not good enough to take a leading spot in the innovation race. The innovation race is won by doing “the right innovation things” (i.e. becoming more effective). Innovation is on the top of the management agenda Study after study shows that “innovation” has a premier spot on the Top Management Agenda. True, the word “innovation” may be overused. So for example, upon
The advantages of a clean sheet Things change, both gradually and inexorably. When you want to change the world, you will have to take advantage of entrenched infrastructures and institutions. Many large companies have difficulty adapting to new technologies and to evolutions in the workplace, and it is their very size that often becomes the spoke in the wheel of change. How can this disadvantage be overcome? Technology has advanced, and consumer tastes and needs have grown. Take the airline industry, for instance. The traditional model is a large national airline enjoying protected routes, with a duty to cover flights to the home country, and with highly entrenched labor costs. The new breed of low-cost airlines work with a different business model: using one type of airplane and second-tier airports, flying only to profitable segments, and offering slashed prices and no-frills service. Their labor and operating costs are much lower. The established airlines are finding it necessary
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