|
Product / Service Innovation
Product/service innovation is the result of
bringing to life a new way to solve the customer's problem that benefit both the
customer and the sponsoring company.3 "New product innovation is
where the source of growth and prosperity is. It is also now possible, with the
range of new product
innovation metrics
tools available, to measure new product innovation much more precisely
and intelligently."4
Create Customer Value: 10 Lessons from Matsushita
Steve Jobs' 12 Rules of
Success
-
Innovate. Innovation distinguishes a leader from
a follower. Say no to
1,000 things make sure you don't get on the wrong track or
try to do too much. Concentrate on really important
creations and radical innovation. Hire people who want to
make the best things in the world. You need a very
product-oriented culture, even in a technology company. Lots
of companies have tons of great engineers and smart people.
But ultimately, there needs to be some gravitational force
that pulls it all together...
More
Innovation-friendly Organization
4 Entrepreneurial
Strategies
By:
Peter Drucker
-
Changing the economic characteristics of the product, a market, or an
industry
– by creating utility, or
pricing, or adaptation to the customer's social and economic
reality, or delivering what represents true
value to the customer....
More
Brainstorming
Brainstorming
is not just a valuable creative tool at the
fuzzy front end of projects. It's also "a
pervasive cultural influence for making sure that individuals don't
waste too much energy spinning their wheels on a tough problem when the
collective wisdom of the team can get them "unstuck" in less than an
hour."4...
More
Prototyping
"Quick prototyping
is about acting before you've got the answers, about taking chances,
stumbling a little, but then making it right. Living, moving prototypes can
help shape your ideas. When you're
creating something new to the world, you can't look over your shoulder
to see what your competitors are doing; you have to find another source of
inspiration,"
says Tom Kelly1 from
IDEO...
More
The Jazz of Innovation
The Art of Innovation: 9
Truths
By: Guy Kawasaki
-
Jump to the next curve. Too many companies duke it out on the
same curve. If they were daisy wheel printer companies, they think
innovation means adding Helvetica in 24 points. Instead, they should
invent laser printing. True innovation happens when a company jumps to
the next curve – or better still, invents the next curve, so set your
goals high...
More
Innovation Portfolio
The
innovation portfolio provides visibility that allows your firm pace the
introduction of new products and services. You should balance the
introduction of
revolutionary products with incremental improvements in others so as to
maintain a steady flow. By having a comprehensive view of your initiatives
over time, you can avoid either overwhelming or underwhelming the
marketplace...
More
3 Strategies of Market
Leaders
Case
in Point
Intel
Intel uses the
innovation
portfolio approach to adjust the rate at which they introduce new
microprocessors based on the margins they can get for the existing products.
"Their portfolio provides visibility across products and product generations,
enabling them to maximize the profits they reap from each other."5
Strategy Innovation
Product
innovation
always involves treading into uncertain waters. All that
enterprise strategy
can do is give you a good starting point. From there, you must
experiment,
learn, and
adapt...
More
DOs and DON'Ts of a Successful
Innovator
By:
Peter Drucker
DOs:
Start small – try to do
one specific thing...
DON'Ts:
Don't undershoot, or
you will simply create an opportunity for competition...
More
Case in Point
Benefits of
BPM
The payoffs of
process
mastery can be breathtaking. Costs melt away, quality goes through the roof,
and time spans shrink to a fraction of what they were. In 1999 Hammer and
Company surveyed dozens of companies that had adopted the process approach to
work and business.
-
In product development,
the percentage of successful launches rose by 30% to 50%
-
The time required to
bring a new product to market was shortened by 50% to 75%...
More
Using Cross-Functional
Teams
Successful innovation requires a seamless
integration of all elements in the product development process.
Firms which are successful in
realizing the full returns from their technologies and innovations are able to
match their technological developments with complementary expertise in other
areas of their business, such as manufacturing, distribution, human resources,
marketing, and customer relationships. To lead these expertise development
efforts,
cross-functional teams, either formal or informal, need to be formed.
These teams can also find new businesses in white spaces between existing
business units...
More
New Product Development:
the 4 Main Sub-processes...
Most Common Reasons Behind
a Failing New Product...
8 Best Practices of
Successful Companies...
Strategic Innovation:
Product Roadmap...
Recommendations to Top
Executives...
An Ideal New Product
Environment...
Developing New
Products: Six Powerful Thinking Tools...
Critical Milestones...
Research as Vital
Ingredient...
Project Portfolio Management...
The BCG Growth-Share
Matrix...
Diversification
Strategies...
New Product Design...
New Product Metrics...
Effective IT Organization
To Support NPD...
10 Steps To Turning Your
Ideas/Inventions Into Big Cash Wealth...
Some Approaches Favoring
Systemic Innovation...
Test Market Your Product...
Strategy for Lean
Production...
Sample Exclusive Patent
License Agreement
Case in Point
New Product Performance
Problems...
Case in Point
The Need for Strategy
Innovation...
Case in Point
IDEO...
Case in Point
Procter & Gamble...
Case in Point
Google: Beta-testing...
Case in Point
Harley-Davidson: Using
Cross-functional Teams...
Case in Point
DEGAP Tool: Thinking in
Three Dimensions...
Case in Point
Fun4Biz...
Case in Point
Apple...
Case in Point
VVV...
|
