Balancing the Portfolio of development projects along one or more of many dimensions such as focus vs. diversification, short vs. long term, high vs. low risk, extending platforms vs. development of new platforms. For more New Product definitions and terms, see the NPD Glossary here.
Listen to the podcast. [audio:https://globalnpsolutions.com/wp-content/uploads/2011/12/5-Jan-2012-Idea-Incubator-podcast.mp3|titles=5 Jan 2012 Idea Incubator podcast] Every day we encounter a multitude of products and services. We are bombarded with radio, television, and internet advertisements. It seems like everyone wants to sell us something! Of course, in our leadership roles in New Product Development (NPD), we are also constantly “selling”
I was lucky enough to spend part of the Christmas holiday in Colonial Williamsburg, Virginia. Williamsburg is a wonderful step back in time to the year 1775 during the birth of the United States of America. I learned that many forefathers walked the streets of Williamsburg, greatly influencing
The firm’s positioning for developing New Technologies and Products. Senior management is responsible for developing the innovation strategy through a vision of which markets are attractive to the firm, which technologies the organization chooses to develop, and the products that should be offered for sale. Read more about innovation strategy:
Innovation, we know, comes from many sources. Sometimes R&D invents a new or refined technology. Other times, the Operations Division finds a more efficient processing step or the logistics department identifies a new market based on shipping routes. As Day & Moorman (1) point out in their book, ”
My hubby and I took a cruise the week after the American Thanksgiving holiday. It was a lot of fun, snorkeling with stingrays in Grand Cayman and going horseback riding in Mexico. We also had several days at sea. Laying by the pool in the beautiful tropical sun, I read
A firm that leads in technology, product and market development and commercialization, even though an individual product may not lead to profits. Their general goal is to be first to market with any particular innovation. Learn more about Miles and Snow typologies in A Review of Strategy Types. Innovation
A firm that has no coherent innovation strategy. They only develop new products when absolutely forced to by the competitive situation. Learn more about Miles & Snow innovation typologies in A Review of Strategy Types. Innovation Members can download a pdf copy of a Case Study of the Reactor