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Product Innovation Strategy For Your Business

Developing a Product Innovation and Technology Strategy for Your Business

This article summarizes the book by the same title, and provides a blow-by-blow description of how to create an innovation strategy for a business. Cooper and Edgett provide a framework for developing a product innovation strategy, including defining innovation goals and objectives, selecting strategic arenas, developing a strategic map (Strat-Map), and allocating resources. Also: how to employ strategic buckets and strategic roadmapping.

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Innovation and Technology Strategy – Three Elements in Place

Cooper pulls together the available research and shows that three key elements are needed for a business to prosper at product innovation – a clearly articulated innovation strategy for the business; effective portfolio management (making the right R&D investment decisions); and a robust idea-to-launch system. Precedes the discovery of the Innovation Diamond, but a good intro read.

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Digital Transformation and Its Impact on New-Product Management for Manufacturers

For the manufacturer undertaking new-product development, Digital Transformation means smart new products with embedded software. It also means combining software development methods with the more traditional gating process that manufacturers use. The result is a new more agile gating approach, called Agile-Stage-Gate®, already adopted by some leading manufacturers with very positive results. Digital platforms will also be needed to support the embedded software, thus requiring manufacturers to significantly modify their technology development methods. Finally, Digital Transformation offers new tools for product developers – from testing via simulations, to AI to invent or design the product – that greatly accelerate or enhance the new-product process.

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