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How to Speed Up Your New Product Development Process by 30%

Innovation 360 Group

A new product development process that works at lightning speed requires new ways of working plus new ways of innovating. This applies to both B2B and B2C businesses and across industries. The fastest growing companies interpret innovation through multiple lenses. A 3 step process to speed up your time to market.

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Digital Technology MoshPit

Gregg Fraley

Participants in MoshPit sessions do extensive preparation, including research and ideation, alone, before the group event. This contemplative pre-ideation starts the group meeting at a more advanced stage of thinking. Teams don’t come up with breakthrough ideas in one day, this is why so many ideation sessions fail.

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Three Flavours of Open Innovation: breaking down institutional boundaries through the X-Factor, Speed Dating, and iOT

Imaginatik

In all instances, open innovation blurs or breaks down institutional boundaries in order to interact with or just access greater pools of ‘talent liquidity’ to solve a problem. Additionally, the problem in question could be internal, within a corporate B2B relationship, or industry wide.

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From product to business model innovation: TICK, the laundry on demand service from Migros.

The BMI Lab Blog

More specifically, those examples do not show how European companies, that are hidden champions in their domain, are succeeding in innovation. In fact, achieving results from a business model innovation process is possible with proper guidance and resources. Naturally, not all of them were followed up on.

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21 Common Innovation Myths & Misconceptions Debunked

Idea to Value

So, ideation is typically best done as a solo activity, but as mentioned, there’s a long way to go from an idea to an innovation, and that is the implementation and execution of said ideas. Ideation is usually best approached as a solo activity, but innovation definitely isn’t. Innovation happens from the top-down.