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Product Development Archives - Ideas for Leaders

Customers Score Highest New Products that Balance Innovation and Familiar

Is novelty a winning strategy for business? Some observers argue that innovative products attract more customers, who are eager to discover new features. Others argue that customers do not want products that are vastly different from what they are accustomed to buying. A study from two researchers from the University of Cambridge Judge School of […]

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How Productivity Influences Knowledge Acquisition Strategies

Where should companies source the knowledge and new ideas that will keep them at the forefront of innovation? The answer, according to an extensive study of 18,000 UK firms, depends in large part on the in-firm characteristics of the company—notably in terms of productivity and resources. Productivity is measured as the difference between a company’s […]

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Family Firms Innovate Less But Better: Their Boards Make a Difference

We expect start-ups and high technology companies in general to be innovators. We know, in contrast, that large incumbents are likely to want to continue to exploit their past innovations rather than venture into new innovations that may cannibalize current products and/or ultimately fail. How do family businesses fit into the innovation picture? A study […]

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Pros and Cons of Collaborative Spaces for Innovation

Companies in search of innovation-based competitive advantages recognize the benefit of innovation teams and projects that bring together a diverse set of backgrounds, skills, knowledge and perspectives. To achieve this diversity, companies create cross-functional teams that bring together team members from a variety of functions and units and open innovation teams that combine internal team […]

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How to Align Conflicting Corporate Strategies to Functions

Corporate strategy rarely offers a clear and unified directive for the company’s functions and business units. Instead, companies often have competing sets of corporate strategies. In a study based on the product development activities of a large food company, researchers from Oregon State University and the University of Auckland demonstrate that strategic alignment challenges can […]

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Staying Competitive Today While Preparing Full-On for Future Success

Ambidexterity involves two goals that are often at odds:  exploitation – successfully competing in the present with quality products and services, superior execution, and successful marketing; and  exploration – preparing to win the future through investments in R&D and innovation and acquiring the knowledge to anticipate changes in the business environment.  How can companies navigate […]

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Using Frugal Innovation to Serve Emerging Market Customers

To sell innovative products in emerging markets, companies from developed countries must take into account two fundamental facts about emerging markets. The first is that the growing middle class in emerging economies that represents the most valuable market for new products is price-sensitive — they do not earn what their middle-class counterparts in developed economies […]

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