Innovation And New Product Development(Introduction)

 Impact of Existing Functions on new product success and development

-          The importance of availability of financial resources and personnel resources, skills, expertise, proficiency and timing

-          Team structure and how to efficiently integrate R&D and marketing functions

-          Benefits of cross-training

Time-to-Market and Financial Performance

-          Impact of performance measurement on trivial innovation and breakthrough innovation

-          Establishing new distribution channel and leveraging existing channels

-          Benefits of upfront analysis on preserving value and controlling product cost

-          Establishing target costing and target price and developing appropriate strategies to achieve both

-          Analyzing ways to preserve value and confirming value post launch

 


Measuring innovation success

-          Development of appropriate metrics for corporate strategy, corporate structure, resources, corporate systems

-          Development of appropriate metrics for inputs and outputs such as R&D performance and value capture, as well as long-term corporate profitability

 

Course reading:

 

You need an innovation strategy by Gary Pisano (published by Harvard University)

 

Despite massive investments of management time and money, innovation remains a frustrating pursuit in many companies. Why is it so hard to build and maintain the capacity to innovate? The reasons go much deeper than the commonly cited cause: a failure to execute. The problem with innovation improvement efforts is rooted in the lack of an innovation strategy.

https://hbr.org/2015/06/you-need-an-innovation-strategy

 

New York University – Innovation initiatives:

https://engineering.nyu.edu/research-innovation/entrepreneurship/convergence-innovation-entrepreneurship

 

Course outlines like this are prepared by AllaVolodina on various business topics including marketing, strategy, finance, research and development, innovation, leadership etc. You can also read other articles suggested by AllaVolodina here: www.allavolodina.com

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