Summary: Lectures

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• 2 lecture 2; Innovation process

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• Basic process model (Booz, Allen & hamilton)

  • New product strategy development
    
  • Idea generations
  • screening and evaluation
  • business analysis 
  • development
  • market testing
  • commercialization

• Stage-gate model (Cooper)

  • Idea
    
  • Gate 1 (initial screen)
  • Stage 1 (priliminary investigation)
  • Gate 2
  • Stage 2 (detailed invesitgation build business case)
  • Gate 3 (decision on business case)
  • Stage 3 (development)
  • Gate 4 (post development review)
  • Stage 4 (testing and validation)
    
  • Gate 5 (pre-commercialization)
  • Stage 5 (full production & market launch)
  • Post implement review

• 3 lecture 3; Managing the innovation process

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• three barriers to success/ time to market

  • High market development costs
  • high technological and market uncertainties
  • incumbent inertia

• Why innovations from developed countries end-up in rich countries:

  * rich countries have marginalized markets

  * rich countries mainstream markets may evolve (not attractive to mainstream markets > technoogy product improves > get sold in mainstream markets)

• How do you manage the innovation process?

  1. Stage-gate model depicts the ideal innovation process
  2. Innovation is a multidisciplinary process (marketing, design, finance, manufacturing)
  3. NPD funnel (idea, concept, prototype)

• Key problems of current voice of the customer:

  • all listening and no action
  • siloed and unsightful
  • ad hoc and unresponsive
  • costly and time consuming

• to develop successful new products, you need to know:

  1. what job the customer is trying to get done
  2. what the customer is trying to achieve when performing the job
  3. what might keep a customer from using the new product

• Managing innovation; success factors

  1. start small
  2. provide a stable organizational context
  3. assign oversight and support responsibility
  4. use rigorous project management and seasoned project leaders
  5. appoint a lead site
  6. invest time defining the innovation
  7. allocate resources on capability
  8. build enough knowledge overlap
  9. limit the number of subcontractors
  10. don't rely solely on technology for communication

• Managing innovation in a global context market launch:

  • Different market launch strategies (quick growth or learn/adapt)
    
  • Global competition (fast return on investment, shorter PLC)
  • Local differences create global challenges (regional market trends, national laws)

• Ten steps to global launch success:

  1. Evaluate local market opportunities
  2. Create global plan and roadmap
  3. design an effective worldwide launch process
  4. engage laucn teams across cultures
  5. communicate
  6. test your message
  7. internationalize communications
  8. ensure timely and localized deliverables
  9. deliver effective support tools
  10. enable local sales teams through training