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Back to BlogPosts Tagged ‘NEW PRODUCT DEVELOPMENT PROCESS’
Customer Input Essential to Innovation
Innovation is not a luxury to be placed on the back burner, but rather the lifeblood of any successful organization. Innovation builds brands, which leads to profitable growth and marketplace success. An important part of attaining that success is through creating value in the minds of customers. An example of a technological breakthrough that gained…
Read MoreThe Right Rewards: Business Beyond Bonuses
What is the ultimate purpose of Innovation in a business? The end goal is Return On Investment (ROI) for all Stakeholders. After all, the objective of the New Product Development process is to turn ideas into money. ROI comes in the form of increased shareholder value, new products and new features – everyone wins, including your employees,…
Read MoreInnovate to Thrive: Time to Open the Throttle
As leaders search for the next process that will transform their organizations into category leaders, for many – it seems – the answer is close at hand: Innovation. Over the past several weeks and 10 posts on the Vistage Blog , we’ve reviewed key imperatives that formed “Robert’s Rules of Innovation” and that together create…
Read MoreObserve & Measure for Continuous Improvement
Of the ten imperatives of Robert’s Rules of Innovation, this step is all about continuous improvement. It is necessary to Observe and Measure throughout the Innovation process, or else, how would you recognize successful Innovation? A system of metrics will objectively show your progress and success each step of the way. Plan. Do. Check. Act.…
Read MoreNet Rewards
Innovation is ultimately about return on investment at the end of the New Product Development process. With the success of a new product launch, everyone benefits – from shareholders and company employees to the consumers. Innovation done well reaps market share gain, new products and new features. Essentially, everyone wins. The last imperative of Robert’s…
Read MoreContinuous Training and Coaching is Essential to Innovation
In order for any company to meet its goals and to achieve sustainable Innovation, proper training and coaching is an essential though often overlooked imperative. But how can a New Product Development (NPD) team represent the philosophy of its organization if the attitude, culture and processes are not continually reinforced? Proper hiring, training and coaching…
Read MoreFostering Creativity with Structure
Creativity in the form of fresh ideas, whether from executives, salespeople or customers, is an invaluable resource to any organization. But these ideas need guidance and structure in order to achieve the key goal of Innovation: profitable growth. To successfully channel ideas into a profitable result, it is necessary to establish a formalized New Product…
Read MoreNew Product Development Requires Fresh Perspective on ‘Creative’ and ‘Structure’
New product development can be a misunderstood concept. Is the “product” actually a product? Or can it be a process? Is it a mandate from the C Suite? Or can it be a suggestion from the factory floor, the retail showroom, the Idea Box or a customer tip? How wide is your idea funnel? And…
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