Tuesday, October 24, 2006

PDMA 2006 - Track 4 Making Innovation Repeatable in Large Orgs

Speaker: Yoon Lee, Samsung Electronics

The focus of this presentation is about improving “product innovation” at large organizations (5,000+) through improving four major domains that support product innovation:

People
Process
Technology

The intersection of these three is your Product.

Some causes of product failures:

Apple misread customer maturity curve-Apple II set user expectation on the PC price

Sony PDA failed because it misunderstood the need – simplicity over functionality.

Ford failed to make the process robust to support sales.

Why do new products fail? According to AMR, 46% of the time, products fail in market because the company didn’t meet customer needs.

Yoon recommended the “Rainmaker Index” (1998 PDMA conference) that shows analysts in the top third of the “Rainmaker Index” generated 95 times more profit than those in the bottom third. For more information, see winovations. That said, you need someone who can put it through a repeatable process.

The presentation largely followed the slides, so I’ve just focused on highlighting what I thought were important points or content that wasn’t captured in the slides.

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