How well defined is your organization’s innovation strategy?

Be Strategic with your Innovation Efforts

A product innovation strategy is the master plan that provides direction for your business’s new product development efforts and it is the essential link between these efforts and your business strategy.

• Uncover the essential elements of a product innovation strategy and their impact
• Learn to define objectives and identify your strategic arenas for innovation
• Discover the critical link between portfolio management and your innovation strategy
• Achieve high impact results by prioritizing projects with the greatest strategic alignment
• Learn to optimize your scarce resources - focus your ideation and innovation efforts

A ‘Must Read’ for People in These Roles

• Business executives responsible for leading product innovation performance results
• Managers responsible for implementing new product/new revenue generation systems
• Cross-functional product innovation development teams
• Senior executives responsible for R&D resource allocation.

Keywords: Innovation Diamond™, strategy, technology strategy, portfolio management, strategic buckets, strategic arenas, governance, roadmapping, competitive analysis, core competencies, projects selection, resource allocation, metrics, climate and culture, goals, best practices, investment allocations, innovation objectives, objectives, product innovation, market success, cross-functional teams, gatekeepers, performance results, Stage-Gate Idea-to-Launch system. results.

Key Topics:

• The critical drivers of success in product innovation
• Key steps to develop a product innovation and technology strategy
• How to target strategic arenas and create strategic roadmaps
• Leveraging core competencies to develop the right attack strategy
• Discovering the impact of effective portfolio management on business performance
• Using strategic buckets to drive the right mix and balance of projects

Companies referenced: General Electric, American Express, 3M, Xerox, Sony, Chempro, Polaroid, Kodak, Lego, ExxonMobil, Apple, Sharp, Hewlett-Packard, Mattel, Chrysler, Nissan, D. Swarovski & Co., DuPont, Caterpillar, Nokia, Guinness, AT&T, Johnson & Johnson, P&G, Pfizer, Air Products, Kimberly-Clark, Clorox, Bausch & Lomb, Honda, SC Johnson, Toyota.

About the Authors

Dr. Robert Cooper

Dr. Robert G. Cooper is one of the most influential innovation thought leaders in the business world today. He pioneered the original research that led to his many groundbreaking discoveries including the Stage-Gate Idea-to-Launch Process. Now implemented by almost 80% of North American companies, it is considered to be one of the most important discoveries in the field of innovation management. He has spent more than 30 years studying the practices and pitfalls of 3,000+ new product projects in hundreds of companies and has assembled the world’s most comprehensive research on the topic. His presentations and practical consulting advice have been widely applauded by corporate and business event audiences throughout the world making him one of the most sought-after speakers.

A prolific author, he has published more than 100 academic articles and eleven books, including the best selling Winning at New Products, 3rd Edition. He is the recipient of numerous prestigious awards including the Crawford Fellow from the Product Development and Management Association (PDMA) and the Maurice Holland Award from the Industrial Research Institute (IRI). Dr. Cooper is a Professor Emeritus of Marketing and Technology Management at the Michael G. DeGroote School of Business at McMaster University in Ontario, Canada and Distinguished Fellow at the Institute for the Study of Business Markets (ISBM) at Penn State University in Pennsylvania, USA.

Dr. Scott Edgett

Dr. Scott J. Edgett is internationally recognized as one of the world’s top experts in product innovation and is the pioneer of portfolio management for product innovation. He is a high profile speaker and sought-after executive advisor on product innovation. Dr. Edgett has extensive experience advising large multinational clients in a variety of industries, principally focusing on issues affecting innovation leadership and capability. He is credited with helping business executives and innovation professionals successfully implement world-class innovation processes that have generated outstanding results. His speaking engagements and professional work have taken him around the globe to work with some of the world’s best innovators and companies among the Fortune 1000.

Dr. Edgett is Chief Executive Officer and co-founder, with Dr. Robert G. Cooper, of both Product Development Institute and Stage-Gate International. He has spent more than 20 years researching and developing innovation best practices and working with organizations in product innovation. He is a prolific author having coauthored six books including the popular ‘Portfolio Management for New Products, 2nd Edition’ and has published more than 60 academic articles. Dr. Edgett is a former Professor of the Michael G. DeGroote School of Business, McMaster University in Ontario and is a Faculty Scholar at the Institute for the Study of Business Markets (ISBM) at Penn State University in Pennsylvania, USA.