Before the start of any project, management needs to clarify whether the product development plan will follow a radical or conventional approach. Products that involve both new technology and a new market are certainly radical, but categorizing those that involve only new technology or a new market will require judgment. Leaders need to factor in their organization’s innovation expertise. Most breakthrough products that are truly … [ Read more ]
Content: Quotation | Authors: Andreas Maurer, David Küpper, Kim Wagner, Markus Lorenz | Source: Boston Consulting Group (BCG) | Subject: Innovation
In recent decades, one of management’s objectives has been to add discipline to innovation. Companies have greatly improved the efficiency of new-product development, and managers have been able to draw on a variety of processes, methods, and tools to maximize the return on their R&D investment.
Unfortunately, these advances have had the unintended consequence of discouraging radical innovation: technical breakthroughs that render existing products obsolete or … [ Read more ]
Content: Article | Authors: Andreas Maurer, David Küpper, Kim Wagner, Markus Lorenz | Source: Boston Consulting Group (BCG) | Subject: Innovation