As much as corporate leaders talk about the importance of innovation, they still complain about a lack of results. Innovation is not magical nor is it easy. Successful new product development (NPD) relies on deploying the right technology at the right time into the right market segment. Complicating the situation
Listen to the podcast (about 5 minutes). [audio:https://globalnpsolutions.com/wp-content/uploads/2012/06/7-June-2012-Idea-Incubator-podcast.mp3|titles=7 June 2012 Idea Incubator podcast] Trevor was recently promoted from a staff engineering position to the lead machinery engineer on a project team. The project includes building a new factory that will produce 100 million units a year. Glenda was also recently promoted at her company after
Individually, cross-functional team make-up and Portfolio Management (PM) are each considered critical to successful New Product Development (NPD) efforts. Intel* has combined PM with project evaluations by cross-functional teams to achieve significant technology transfer improvements. Intel* identified best practices for innovation transfer from idea exploration to production.
Listen to the podcast here. I first became aware of Thomas Thwaites’ toaster project in economist Tim Harford’s book Adapt. Thwaites had set out to build a toaster from scratch, and the task was far more complicated than the simple toaster betrays. Since even the Romans loved