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New Product Development (NPD) Driving Growth through via Product Innovation |
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By Vadim Kotelnikov, Founder, Ten3 BUSINESS e-COACH – Innovation Unlimited, 1000ventures.com
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"We will make our product obsolete before our customers do so." – Sony |
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Most Common Reasons Behind a Failing New Product4
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Product / Service Innovation
Steve Jobs' 12 Rules of Success
4 Entrepreneurial Strategies By: Peter Drucker
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 Art of Innovation: 9 Truths By: Guy Kawasaki
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 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 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 Strategic Innovation: Product Roadmap Product roadmaps define new product and service initiatives within a market or technology context. They embody a large percentage of the corporate strategy and provide a degree of tangibility that helps bring together other choices in direction, technology, marketing and so forth to the surface. Furthermore, starting with product roadmaps forces people to be explicit about how their ideas translate into new products or services.2 It is vital for developing product roadmaps to discover assumptions beneath the selection of products. 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 Case in Point Benefits of Business Process Management 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.
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... 8 Best Practices of Successful Companies... 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...
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