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Summary Innovation Management
Summary Innovation Management
Innovation Radar
e.g. Intel Chip Prescott is 30% cheaper than the old chips; however,
its not a major improvement in comparison to the old chip rather a
process innovation
Customers might not buy these chips, but future chips are surely
cheaper & better
Risk-averse managers
Tunnel view, mental barriers (e.g. PS3 vs. Wii or Walkman vs. iPod)
Attempt to react to disr. technologies in a way that worked already in the
past
Risk-averse, hierarchical and inflexible company culture
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Important challenges
Consumer Understanding
Innovation
Brand-Building
Go-To-Market Capabilities
Scale
1. Idea generation
New product ideas contests
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Mass customization
Increased number of testing options
Reduced market risks
Customer feedback in the most critical stage of new product
development
o Better market information for early termination decisions
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Examples of Co-Creation
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Cross-Functional Teams
Higher prices
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The Fuzzy Front End (FFE) is the messy "getting started" period of new
product engineering development processes. It is in the front end where the
organization formulates a concept of the product to be developed and
decides whether or not to invest resources in the further development of an
idea.
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Results
Ideas are taken out of the heads and are discussed
Knowledge does not get lost
Good ideas are implemented fast avg. T2M (technology to market)
reduced by 6 months in FFE
Drivers of T2M Reduction
Project organization
Up-front homework
Market attractiveness
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Main
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career paths)
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