To most companies, innovation is a crucial element of growth and sustainability. CEOs, stockholders, and Wall Street analysts all stress the importance of innovation to a firm’s financial well-being. Innovations allow companies to remain competitive, attract new customers, and increase profits. Yet, innovation remains elusive for a lot of firms.
As they say, “What gets measured, gets done.” Measurements tell us how we are doing versus a standard and can provide motivation to improve systems or change behaviors. We know how far we’ve come and how far to go to achieve a goal by reviewing metrics. Traditional project metrics focus
New product introductions fail at an amazingly high rate – about half of all new products commercialized fail to meet sales targets. In some cases, customers like the product features, but the cost is too high. In other situations, companies miss the mark in developing and designing a product that
Being successful in business means determining a strategy and following that strategy to execute flawless operations. There are infinite choices of strategies from which a firm might select – some focus on cost leadership while others will try to drive growth through customer relationships and product differentiations. The lens through