Perhaps your company’s product innovation process is one of the casualties of the Great Recession. Yet, you know that a steady release of new products or services into the marketplace remains the only way to stay strong and grow in an increasingly competitive world. Companies need to produce more with less, to make it faster, and to do it with reduced personnel. What do you do? Read more in this article by Dr. Scott J. Edgett.
There has been a shift from the emphasis on what people called the “information value chain” to “knowledge value chain” for quite some time. The environments are shrewd and unpredictable in this world of growing competition and rapid technological progress. The information value chain just served as a database of “best practices” whereas “knowledge value chain” emphasizes on the active sense making of human beings handling business.
Common sense says that if one wants to improve the innovation output, one needs to either (a) increase the size of the opportunity set that goes in the so called 'Innovation Funnel' ; (b) Speed up the throughput of the 'Innovation Funnel' and/or (c) improve the variety of the opportunity set passing through the 'Innovation Funnel'.
Quick and dirty idea reviews, used to efficiently process the wealth of ideas generated in the typical corporate brainstorming sessions, may unwittingly throw away some valuable ideas. Here are several ways to avoid that mistake, according to Jeffrey Baumgartner.
