Innovation

Innovation is the engine to achieve profitable growth and generate a sustainable competitive advantage. However, innovation is a complex undertaking that involves coping with technological and market uncertainties that arise due to the firm’s changing environment and competition, therefore, the firm’s probability of market success remains unpredictable. We can help you minimize your innovation risks, innovate successfully, and improve your innovation performance.

We are well positioned to provide our innovation consulting services to well-established and start-up technology-based companies, including electronics, telecommunications, healthcare, and pharmaceuticals, to achieve breakthrough innovations. We can assist you in exploiting the best opportunities your technology can offer by blending our strategic and innovation management skills into your technology to generate a competitive advantage. Combining our deep expertise, knowledge, insights, and 25-plus years of experience in technological innovation (strategy, R&D, manufacturing, and marketing) we can help you deliver high-value innovation solutions. We offer our innovation consulting services in the following areas:

  • Management of Innovation
  • New Product Development (NPD)

 

Management of Innovation

Your firm’s profitability from innovation will depend on your firm’s ability to manage innovation successfully, create value for its customers, and capture a portion of that valve in terms of profitability. But, the management of innovation involves uncertainty, and therefore, due to this reason, there is no guarantee that the innovation output will be profitable. By applying the well-established innovation management principles, tools, techniques, and our experience and insights, we can assist you in minimizing your risk of innovation, and in designing your innovation strategy to become profitable and generate the competitive advantage you desire.

Our innovation management consulting services include:

  • Innovation audit
  • Business model innovation
  • Appraising the profit potential of your innovation
  • Innovation strategy formulation
  • Protecting innovation and managing risks
  • Integration of innovation
  • Issues of standards

 

 New Product Development (NPD)

Why do firms fail to deliver innovation: in terms of new patents and successful products? To become successful, the management of R&D must be fully integrated into the strategic management process of the firm. Firms can have difficulty in developing new products if they fail to manage R& D strategically. Additionally, building new product development capabilities remains one of the toughest challenges facing many companies today. Research indicates that only one out of every ten new product ideas make a successful launch. The primary responsibility of the R&D department in technology-driven companies is to develop new products and upgrade existing ones. But there is no guarantee that the R&D output will always be positively related to profitability. We can help you in developing your R&D strategy including the front end (also known as a fuzzy front end or front end of innovation) design, and implementation plans to grow, create value, optimize R&D investment, reduce costs, and speed up time-to-market to improve overall product innovation performance.

Our new product development (NPD) consulting services include:

  • R&D Strategy analysis & review
  • The front end of innovation
  • Portfolio analysis & planning
  • Technology roadmapping
  • Platform strategies
  • Options strategies
  • Proposal development

Relevant Insights

  1. Linking Innovation and Competition to Acquisitions December 30, 2019.
  2. Two Important Dimensions of Profitable Growth: Strategy and Innovation May 22, 2019.
  3. Importance of Strategic Management in Managing Innovation November 5, 2018.
  4. Internal Sources of Strategic Transformation: Competitive Advantage through Innovation August 7, 2018.
  5. A New Business Model Structure, Innovation Strategy, and Competitive Advantage April 8, 2018.
  6. How Established Firms Can Innovate Like Start-Ups February 25, 2018.
  7. Managing Unknown Unknowns in Innovation September 22, 2017.
  8. Importance of Portfolio Management in Innovation August 15, 2017.
  9. Managing Innovation through Dual Planning Systems June 1, 2017.
  10. Digital Strategy, Digital Marketing Strategy, and Tactics September 15, 2016.
  11. Role of Intellectual Resources and Knowledge-based Capabilities in driving Performance and Profitability August 14, 2015.
  12. Implementing Strategies through Portfolio Management December 15, 2014.
  13. Managing Time for Competitive Advantage January 9, 2014.