NEW PRODUCT DEVELOPMENT PROCESS

4 Lessons on Innovation from the “Queen of HSN”

The “Joy” of Innovation: What We Can Learn from the Story of Serial Innovator and Entrepreneur Joy Mangano Producer David O. Russell’s most recent movie, Joy[1], begins with a title card appearing on the screen announcing this dedication: “Inspired by the true stories of daring women. One in particular.”[2] That one particular woman is Joy…

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Best Business Book explored in CustomerThink Interview

An Interview on Innovation There are very few companies that are able to successfully bring new, profitable products to market. Companies that are able to achieve this – and do so on a regular basis – are usually the ones that end up on the “most innovative” lists we see on Forbes, Fortune, and the…

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Innovate With Purpose: Idea Prioritization

Idea Prioritization  Ideation and idea management pack the front end of the New Product Development (NPD) funnel with a wealth of viable concepts. One of the toughest processes in innovation is idea prioritization. Idea prioritization is about how you invest your company’s product development resources. Most companies have too many projects underway for the limited resources available.…

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Get your House in Order to Nurture New Product Development

  It is all about proper planning, communication, and execution in order to make an idea work or for sustainable innovation to happen. Implementing innovation depends on a disciplined strategy customized to the needs, size and culture of an organization. Each organization must create their own clearly defined stages and steps of the NPD process. New Product…

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New Product Development Tips

Remember, “creative” and “structured” need not be mutually exclusive concepts. Open Wide: Keep the idea funnels wide open.  As Stage-Gate’s Dr. Cooper advises, find and fill the product “white spaces” – untapped marketplace opportunities. Sharpen Those Teeth: Make sure your Go/No-Go decision checkpoints have “teeth.” Widen the Innovation Highway: Make the system lean, adaptive, flexible…

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