As competition in the global economy intensifies, excellence in new product development has become a mandate.  Processes and methods that enable organizational learning, eliminate waste and enhance value creation have spread to virtually every aspect of the business enterprise… except for one.  New Product Development.  New Product Development faces unique challenges and differs from other business processes.

Unique Challenges of New Product Development

• It’s not a recurring process

Each new development project is distinct, at least in some respects.  Adding …

The need for innovation in business today is a given.  But understanding the need and actually being able to innovate are two separate worlds.

Creativity has become the currency of success.  What has always worked will work no longer; new, creative solutions are in demand.

We’ve done a little digging and uncovered the Top 20 obstacles to innovation:

1. Lack of a systematic innovation process
2. Belief that innovation is inherently risky
3. Lack of a shared vision, purpose and/or strategy
4. Short-term thinking