Turning great ideas into high-value, commercially successful products
A recent Gartner CEO survey revealed that CEOs identify growth from innovation as one of their top priorities. Unfortunately, this same survey revealed that only 50% of companies are satisfied with their return on innovation investment.
In their quest to deliver better innovation results and return on innovation investment, many organizations are evaluating their front end of innovation (FEI) practices to improve the value of ideas and the pace of advancing qualified ideas into new product development (NPD) projects for commercialization.
High performers today realize that FEI is not simply about generating and selecting the best ideas, it is about making sure that the best ideas can turn into winning new products and services that deliver in-market results. The critical need is establishing a holistic, integrated approach that balances creativity in the fuzzy front end with the more systematic product development and execution processes to deliver the highest value.