- Research Feature
- Read Time: 24 min
Companies are increasingly rethinking the fundamental ways in which they generate ideas and bring them to market — harnessing external ideas while leveraging their in-house R&D outside their current operations.
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Sometimes large-scale operational efficiencies can mask opportunities. In their research, the authors found that small-scale operations provide significant advantages in four areas. Using case studies, the authors illustrate how companies in a wide variety of industries have found the hidden benefits of small-scale approaches, concluding that executives who learn when it is better to think small can have a potentially huge impact on their companies‘ long-term success.
Some companies are better off making incremental improvements to their products. Others that must compete on their ability to innovate focus on breakthrough inventions. Either approach requires the exploration of a specific type of “technology landscape” and the right strategy for searching across the terrain.
The product-development process is often seen as an undependable “black box” that rarely produces results that exceed business expectations. With an approach called “net present value, risk-adjusted,” the author offers an operational framework of quantitative tools that can be integrated into existing stage-gate methodologies to create a risk-adjusted NPV that considers the impacts of product portfolio, user needs, and technical and marketing risks.
A company’s interaction with the scientific community is crucial to its ability to incubate and commercialize new ideas.
A survey of high-tech companies reveals which techniques get R&D and marketing departments to share vital information with each other.
Strategic failure usually comes from an inability to make clear choices on which customers to target, what products to offer, and how to improve efficiency. Incumbents routinely bow to upstarts that innovate in those areas. The author shows established companies how to prepare for and counter such disruption with a dynamic process of continual strategic renewal.
Successful strategy emerges from a decision process in which executives develop collective intuition, accelerate constructive conflict, maintain decision pacing and avoid politics. As well, in rapidly changing markets, decisions that change a company’s direction arise much more often.
How Toyota’s product design and development process helps find the best solutions and develop successful products.
Strategy in many companies seems to have gone astray, and the author has identified the reason: Managers are focusing on it in isolation instead of establishing the preconditions to successful strategy innovation. Only those companies that are constantly able to reinvent themselves will survive. The author shows how to improve strategy making and create wealth through a pluralistic process, collaboration across industries and market experimentation.
Three forces are changing the customary rules of distribution channel management: proliferating customer needs, shifts in the balance of power in channels and changing strategic priorities. The authors propose a strategic approach to planning for future channel configurations, control of the channel and resource commitment.
How can a company successfully attack an established market leader? How can it find new ways to compete that everyone else has missed? By breaking the rules of the game in its industry to find new sources of innovation, writes Constantinos Markides, of the London Business School. In a study of thirty successful attackers, Markides identified five ways that companies successfully thought about and developed new game plans.
The failure to integrate a product strategy, a well-planned portfolio, and a facilitating organization structure with clearly identified customer needs, a well-defined product concept, and a project plan can severely hamper new product development. An examination of eleven companies aims at improving the effectiveness of the front-end process.
In an overview of the future role of the IT organization, the authors examine the business and technological changes that are effecting change in many IT units. They cite eight imperatives in which IT organizations must excel in order to succeed. Additionally, they examine the evolving key of IT managers: ensuring that all line managers understand the potential of IT and how it can be used to implement business strategies effectively.
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