Part One: Sustaining Processes
Even with a deep-held conviction that innovation provides the path to growth, many corporate leaders are paralyzed to action in the face of such competitive challenges. NPD follows a logical, simple framework that can be easily implemented regardless of the industry, company size, or current state of business. There are seven areas in innovation to master for innovation success:
- Innovation Strategy,
- Portfolio Management,
- NPD Processes,
- Life Cycle Management,
- Teams and Organization,
- Market Research, and
- NPD Tools and Metrics.
Innovation strategy is an overarching principle that guides all new product development activities. Portfolio management, structured NPD processes, and life cycle management are facilitating processes that lead to sustainable long-term innovation success. Supporting processes and structures are offered through teams and organization, market research, and NPD tools and metrics. In this thought leadership paper, we will investigate the sustaining processes and discuss the supporting structures in part two later.
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