Defining New Products: The Product Definition Decision Model™ Helps Guide the Process

Is creating a written product definition document before starting development on a new product at odds with the lean methodologies that emphasize “fail fast, fail cheap” as a way to allow a product definition to emerge? A recent article proposed that indeed this is not the case (1). This article will expand on that concept and introduce the Product Definition Decision Model™ as a way to guide product definition.  Continue reading

Is Fully Defining a New Product at Odds with a “Minimum Viable Product”?

A recent article focused on the number one problem in new product development: too many projects for the available development resources (1). In that article, one of the prescriptions proposed was to resist the temptation for the scope of a project to expand. Scope creep not only impacts that specific project but the entire project portfolio because of resource dependencies. Continue reading

The Biggest Challenge in Product Innovation May Surprise You

Ask senior executives at manufacturing firms what their biggest challenge is managing new product innovation and you might hear answers such as lack of creative thinking, development teams need to work harder, or maybe that the organization does not have the right skill sets. The truth might surprise you: consistently year-in and year-out, the single biggest pain point in managing product innovation is too many projects for available development resources.  Continue reading

Innovate Your Innovation Process

innovateAre you a small to mid-sized (SME) manufacturing company with a singular focus on understanding your customer needs, providing superior products to meet those needs and growing your revenue and earnings? It goes without saying that for every company, these goals should and do consume significant management bandwidth. The problem is that most organizations become too inwardly focused (1). They do not consider what might be happening outside their company, and even beyond their industry, and leverage that knowledge to create new customer value. This has driven the popularity of the concept of “open innovation”. Maybe we should extend the concept of open innovation to other important aspects of a business such as the innovation management process. Why not, in other words, “innovate your innovation process” by learning from others? Continue reading

The Senior Business Leader as a “Super Product Manager”: The Right Role?

SuperheroA high level of senior management engagement is absolutely critical to the long-term success of any company’s new product development (NPD) and innovation success. A recent article on the role of Jeff Bezos during the development of the Fire Phone (1) led to a question: Can and should the senior manager in a business function as what might be termed a “super product manager”?  By my definition, a “super product manager” drives the process to define what products or services get developed, but is also responsible for the company’s short and long-term financial success and to whom everyone else ultimately reports to functionally. These are two very different roles, and the question addressed in this article is whether this level of engagement in NPD is actually detrimental to a company’s long-term success.  Continue reading

Assessing Your New Product Development (NPD) Process

continuous learningFor anyone responsible for managing a new product development (NPD) process, continually assessing your process and learning from other’s experiences is a must. These whitepapers available at no charge cover a wide range of topics including the role of management in NPD success, metrics, project definition, portfolio management and online tools, project risk, among others.   Continue reading

Innovation Coach – 2015 Workshop Series: Cincinnati Registration Closes February 13

Brands IC LogoAre you a small to mid-sized manufacturing company and realize that for continued growth in revenue and earnings you must improve your ability to manage innovation and new product development? The Innovation Coach offered by New Product Visions are unique workshops focused on creating or improving an existing new product development (NPD) process. The workshops are accessible and affordable for small to mid-sized businesses, and a cost effective way to quickly learn how to improve your ability to manage innovation and grow revenue and earnings. Continue reading

Innovation Coach – 2015 Workshop Series: Philadelphia Registration Deadline

Brands IC LogoAre you a small to mid-sized manufacturing company and realize that for continued growth in revenue and earnings you must improve your ability to manage innovation and new product development? The Innovation Coach offered by New Product Visions are unique workshops focused on creating or improving an existing new product development (NPD) process. The workshops are accessible and affordable for small to mid-sized businesses, and a cost effective way to quickly learn how to improve your ability to manage innovation and grow revenue and earnings. Continue reading

Innovation Coach – 2015 Workshop Series: New Online Format

Brands IC LogoAre you a small to mid-sized manufacturing company and realize that for continued growth in revenue and earnings you must improve your ability to manage innovation and new product development? The Innovation Coach offered by New Product Visions are unique workshops focused on creating or improving an existing new product development (NPD) process. The workshops are accessible and affordable for small to mid-sized businesses, and a cost effective way to quickly learn how to improve your ability to manage innovation and grow revenue and earnings. Continue reading

U.S. Debt, China and Innovation

US-Dollar-China-YuanWhat does the U.S. debt, the Chinese economy and innovation have in common? More than you think.

Among all the other political stories in the U.S. that consume the media’s attention and many Americans, not much was heard recently about two disturbing trends that will impact the long-term economic well-being of every American household. Continue reading