Process or Vision: What’s More Important for Product Innovation Success?

right-left-brainListen closely and you realize there is a lively debate between those who believe process is most important in innovation and others who contend that vision and creativity are what leads to success. The truth is that both are equally important and organizations interested in improving their ability to innovate must do both well.  Continue reading

Software Development Challenges for Traditionally Hardware Oriented Manufacturing Companies

softwareFor manufacturing companies software is an increasingly important aspect of their product’s value proposition. From consumer to industrial products, nearly every industry is affected. Incorporating software presents greater challenges to companies whose products have traditionally been hardware oriented. Continue reading

Small to Mid-Sized Manufacturing Firms: Unique Innovation Challenges

If you operate a small to mid-sized manufacturing enterprise (SME), how are you going to grow revenue and earnings? Every company relies on organic growth of their core products. For most that is typically not enough to sustain the business long term. Geographic expansion and acquisitions can help in some circumstances but long-term, a company must innovate or the business will stagnate and be eclipsed by competitive forces. This is especially true in today’s hyper-competitive environment (1).  Continue reading

A 5-Step Approach to Reduce Time-to-Market

faster

Getting products to market faster is a common objective for every company. While the motivation varies, there are clear benefits including capturing more sales, beating competition to market, providing market flexibility and maintaining a leadership position. Reducing time-to-market can also be a focal point for improving the overall innovation management process (1).  Continue reading

Ignoring the Role of Innovation: A Disturbing Trend?

There are many paths to grow a company’s revenue and earnings. That topic typically consumes the majority of management bandwidth. Organic market growth, geographic expansion and acquisitions are all viable strategies. But are you ignoring the role of innovation? Surprisingly, a recent survey suggests many are.  Continue reading

Disrupting the Management Model

Long Term SuccessDo you expect your company to prosper for the next year, five years and well into the future? For any CEO or business owner, that question is always on your mind. So, how exactly are you going to adapt to your changing environment and re-invent your company multiple times to stay ahead of the competition? That question cuts to the core of your culture and how the business is managed. It’s the essence of your management model.  Continue reading