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Are the best product ideas internally or externally developed?

A burning question from our clients:  Do we get better product ideas from internal professionals, such as engineers, designers, marketers and product management, or from external sources? (Poetz and Schreier 2012)[i], reviewed past academic literature and conducted a study to answer this  question. Arguments range from “A truly creative product idea is outside the scope…
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Creativity is not about being a “creative person”

Do you have to be a creative person to do innovation? No, it’s all about the creative process and making creative choices. …
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Why Product Development Needs To Be Done Differently

It’s time to change the way we think about product development. This is a must read blog post, by Mary Drotar of Strategy 2 Market, published on the MENG website. http://mengonline.com/blog/2015/09/30/why-product-development-needs-to-be-done-differently/?nabw=0 Strategy 2 Market helps companies increase growth and decrease product development complexity. www.strategy2market.com For more information or to speak with one of our consultants,…
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What IS an Innovation Strategy

To innovate is … To find new ways of doing things in order to create new value for the customer and/or the company New value means … For the customer, better performance, more convenience, lower cost or new benefits  For the company, potential for new revenue, new cost savings or new opportunities Innovation strategy defines…
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What is Innovation?

Innovation has become a hot topic in business these days. Almost any business magazine will have an article discussing some aspect of innovation; many companies cite innovation as a top strategic priority; “BusinessWeek” and “Condé Nast” have announced new publications devoted to innovation. But what exactly is innovation? Sometime people call an idea innovative, meaning…
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Big, Complex Systems Require Trial and Error

From TED Talks: Tim Hartford on “Trial, Error and the God Complex” More on the idea of “Invent, Test. Iterate.” Tim Hartford argues that it is impossible to know the right answer when big, complex systems are involved. So don’t assume you can deduce the right answer. Use systematic trial and error to hone in…
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