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1 Idea Insights from GNPS

Managing Innovation

Episode 15-27

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2 Idea Insights from GNPS

Management Functions

• Classic Management Theory

1. Planning2. Organizing3. Leading4. Controlling

• Operations needs classic management for stability, reliability• Innovation has special management challenges

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3 Idea Insights from GNPS

Planning (Innovation)

• Starts with the innovation strategy

• New product development (NPD) can fail if:• Not delivering benefits customers want• Continuous integration into future product designs

• Link strategy and NPD through market research

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4 Idea Insights from GNPS

Organizing

• Cross-functional teams key to NPD success

• Follow a structured NPD process1. Opportunity Identification2. Concept Generation3. Concept Evaluation4. Technical Development5. Commercialization (Launch)

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5 Idea Insights from GNPS

Leading

• NPD team leader has expertise• Technical• Market• Familiar with the business model

• NPD team leaders caution:• Gold-plating products• Feature-heavy • Monitor scope

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6 Idea Insights from GNPS

Controlling

• NPD projects need to monitor project triple constraint• Scope• Schedule• Budget

• Follow market research continually during development• Get certified to understand end-to-end NPD process!

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7 Idea Insights from GNPS

For More Information

• See the full post at the Idea Incubator Blog• www.globalnpsolutions.com/idea-incubator/• Free registration

• Contact me!• 1-281-280-8717• info@globalnpsolutions.com• 2323 Clear Lake City Blvd., #180-177 Houston, TX 77062

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