Managing Innovation for new industrial product in business 2 business

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it all about managing innovation for new industrial product

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Managing Innovation & New Industrial Product Development:

Managing Innovation & New Industrial Product Development By :- pradeep kumar yadav 09568272721

Managing Innovation:

Managing Innovation Two approaches: Induced strategic behavior is a top-down process that link current strategy and structure to create innovation intertwined with that strategy and structure. Autonomous strategic behavior is a bottom up set of activities used to create inventions and innovations through internal means.

Managing Technology:

Managing Technology Classifying Development projects Derivative projects

Contd…:

Contd … Platform projects

Contd…:

Contd … Breakthrough projects

Contd… :

Contd … Research and development

Contd…:

Contd … Product-Family Focus “Products that share a common platform but have different specific features and enhancements required for different sets of consumers.”

Disruptive Innovation:

Disruptive Innovation Overshooting Customer Demands Overshooting demand means being tricked by the notion that the more you can do for your customers and prospects, the better. Sustaining v. Disruptive Sustaining Disruptive

Contd…:

Contd … Types of disruptive strategies Low-end strategy test For whom? Customers at low-end wanting ______________ _______________________________________ Create model that can be profitable at discount price to attract customers. New-market strategy test For whom? People who lack __________________________ _________________________________________ Present customers who need to go to an inconvenient location

What makes some companies better innovators?:

What makes some companies better innovators? Limited structure Strict priorities for new products Tied to resource allocation Real-Time Communication and Improvisation Better communication Improvisation “Design and execution of actions that approach convergence with each other in time.”

What makes some companies better innovators?:

What makes some companies better innovators? Experimentation Creating options for the future Time Pacing “A strategy for competing in fast-changing markets by creating new products at predictable time intervals.”

What Drives a Firm’s New Product Performance?:

What Drives a Firm’s New Product Performance? Quality of a Firm’s New Product Development Process Process Emphasize market and technical assessment Complete description of product Go/kill set-up points Flexible Resource commitments Resources committed to meet firm’s objectives R&D budgets were adequate and aligned with objectives Necessary personnel are available New product strategy Apple 3M

What Drives a Firm’s New Product Performance?:

What Drives a Firm’s New Product Performance? Anticipating Competitive Reactions Developing scenarios When will a competitor react? If _____________________________ and ______________________

What Drives a Firm’s New Product Performance?:

What Drives a Firm’s New Product Performance? Sources of New Product Ideas Internal/External Lead users “A small number of highly influential buying organizations that are consistent early adopters of new technologies.” Lead user method Staying ahead of customers

Determinants of New Product Performance and Timeliness:

Determinants of New Product Performance and Timeliness Determinants of Success Strategic Factors Product Advantage Marketing knowledge “Fit between _____________________ and ____________________________.” Technical synergy “Fit between _____________________ and ____________________________.” International orientation

Determinants of New Product Performance and Timeliness:

Determinants of New Product Performance and Timeliness Determinants of Success Development Process Factors Predevelopment proficiency Market knowledge and marketing proficiency Technical knowledge and technical proficiency

Determinants of New Product Performance and Timeliness:

Determinants of New Product Performance and Timeliness Determinants of Success Fast-paced Product Development Matching process to development task Compressed strategy for predictable projects Compressed strategy Experiential strategy for unpredictable projects