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For the exclusive use of S. Cheng, And innovation is longer after clothes finish drying. Ask business velop solutions to science and technology tivity is flattening while innovation bud- unit leaders which consumer needs, when problems.
NineSigma creates briefs describ- gets are climbing faster than revenues. The con- Translate needs into briefs describing sends them to thousands of possible solu- nect and develop method. Through this problems to solve. Consider where you tion providers worldwide. They decided to search for rele- ate new products. It discovered a small bakery those categories.
One chemical supplier, for example, may have page 1 This document is authorized for use only by Si Cheng in New Product Development taught by Prof. They were an we printed thousands upon thousands of immediate hit. In the old days, it might have crisps each minute. Moreover, creating edible taken us two years to bring this product to dyes that could meet these needs would re- market, and we would have shouldered all of quire tremendous development.
But by ap- Traditionally, we would have spent the bulk plying a fundamentally new approach to inno- of our investment just on developing a work- vation, we were able to accelerate Pringles able process. An internal team would have Prints from concept to launch in less than a hooked up with an ink-jet printer company year and at a fraction of what it would have that could devise the process, and then we otherwise cost.
It was a great we circulated it throughout our global net- idea, but how would we do it? One of our re- works of individuals and institutions to discover searchers thought we should try ink-jetting if anyone in the world had a ready-made solu- pictures onto the potato dough, and she used tion.
You that we discovered a small bakery in Bologna, can imagine her call to our computer help Italy, run by a university professor who also desk. We quickly realized that every crisp manufactured baking equipment. Connect and Develop images on cakes and cookies that we rapidly Bartlett and Sumantra Ghoshal call the transna- adapted to solve our problem.
This innovation tional model in Managing Across Borders. The Internet had that their innovation must principally reside opened up access to talent markets throughout within their own four walls. To be sure, these the world. Not on a broken model. How are they going to do it? In , real- business this year alone. For generations, in CEO, A. That worked internal businesses. Betting that these high levels of top-line growth.
As we studied Larry Huston huston. Talk about a wake-up call. The model works. And 45 percent of the initiatives in our product development portfolio have key elements that were discovered externally.
Our innovation success rate has more than doubled, while the cost of innovation has fallen. And, in the last two years, we've launched more than new products for which some aspect of execution came from outside the company.
Five years after the company's stock collapse in , we have doubled our share price and have a portfolio of twenty-two billion-dollar brands. According to a recent Conference Board survey of CEOs and board chairs, executives' number one concern is "sustained and steady top-line growth. Until companies realize that the innovation landscape has changed and acknowledge that their current model is unsustainable, most will find that the top-line growth they require will elude them.
Larry Huston Huston. Nabil Sakkab sakkab. An excerpt from Harvard Business Review. It was clear to us that our invent-it-ourselves model was not capable of sustaining high levels of top-line growth. The application deadline is October 30 th , WEConnect International helps women-owned businesses succeed in global value chains.
The result is a network of corporate buyers working with women business owners based in over countries that are learning, collaborating and winning new business. Toronto, Canada. October 7,
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