Saturday, October 21, 2006

PDMA 2006 Research Forum - 10-21-06 Keynote

Perspectives on the future of innovation research (Raji Srinivisan)
NPD is a complex, risky, process involving multiple actors. Despite risks, the rewards are high.

Much of the research has focused on new product innovations. But that’s a necessary but not sufficient condition for organizational innovation. Raji Srinivisan proposes a borader view of organizational innovation. It’s time to look beyond products.

Organizational Innovation includes:

Integrated view of offerings to include services
Industrial design in innovation
Innovation failures
Marketing innovations
Innovating for international markets

Service Innovation
Some of the research in services is coming from Operations Research. Does the stage gate process apply to service innovation? How about the rest of the best practices we know from product innovation, can they be applied to service innovation?

Service firms don’t have R&D budgets. Where is the innovation happening if not in an R&D group? If service firms could answer these questions, would they be able to accelerate innovation the way we do with product innovation?

Industrial Design Innovation
For industrial design, what can you do to integrate marketing, design, and product development? What is design exactly? It’s adjusting the product and product delivery to maximize user experience.

Innovation Failures
It’s easy to look at successes because there’s more information available. It’s an important area of study because most new products fail. Yet, “failure is the only opportunity to begin again more intelligently” (Henry Ford). Can we create a body of knowledge to identify patterns?

Here’s something that occurs to me…if Fail Early Fail Fast (FEFF) is important to finding a success, then if we studied the failures, could we learn something about failing faster, cheaper?

Marketing Innovations
Parity in product performances creates a shift toward other changes in the marketing mix. For example, innovativeness in pricing, promotion, and distribution channels. Brand managers do this all the time. Can the body of innovation research help brand managers innovate on the marketing mix?

Innovating for International Markets
The developed market is saturated, single-digit growth rates. International is the opportunity for market growth and profitability.

Should product development firms operating in multiple countries decentralize their R&D efforts or go with a hybrid model?

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