MyNotes - Why Some Companies Successfully Innovate and Others Don't

Boils down to communication and collaboration....

    • Why Some Companies Successfully Innovate and Others Don't  - Collaboration, communication, and automation separate the successful from the strugglers
      • By Christine Crandell
        • Not collaborating. Failing to share information and collaborate with customers, partners, suppliers, and other key stakeholders in exploring new ideas. For struggling companies, fewer than half their product ideas came from these sources.
          • Too often senior management and product-line staff fail to communicate, which often results in their spending time and money on the wrong product priorities.
            • Paper-based methods and other traditional innovation management processes slow down the development life cycle, especially for complex products.
              • Struggling companies have trouble planning the resources needed to match market opportunities, difficulty managing multiple teams and regions, and a hard time managing the risks associated with new and existing products.
                • There are concrete steps that struggling companies can take to redirect themselves along the road to success, as well as steps that currently high-performing companies can take to reach even higher levels. 
                • Key among them: collaborate closely with key stakeholders, harness the wisdom of crowds, clearly define and convey product requirements, leverage outside help, and automate the innovation process.

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                Everything posted on Miguel Guhlin's blogs/wikis are his personal opinion and do not necessarily represent the views of his employer(s) or its clients. Read Full Disclosure


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