During a recent webinar titled The Five Most Important Drivers of Success in Product Innovation – That Most People Get Wrong! with Dr. Robert Cooper, President of the Product Development Institute Inc., he fielded a number of audience questions. Bob is also the creator of the Stage-Gate® system, the widely used innovation and new product development process and methodology used by leading organizations around the world to drive new products to market. Based on his broad and deep knowledge, here are his answers to a number of the audience questions:
INNOVATION has never been more firmly on the business agenda!
Business growth strategies are highly dependent on contributions from Innovation Initiatives and the pressure to deliver on the promise of Innovation is enormous. Despite this pressure, and in many ways, because of it, Innovation programs and businesses are underperforming.
Most companies claim to have implemented a stage-and-gate or gating process to drive new products to market. Some indeed have, but many companies have got it wrong! If you are not satisfied with the way your idea-to-launch process works, then this 20 minute video is right for you. Cooper, the creator of the Stage-Gate system, explains how the system works – the basis for stage-gate, what the stages are, how the gates work, using the right go/kill criteria at gates, how stage-gate can be extended to other types of initiatives, successfully implementing Stage-Gate, the role of the process manager, and getting senior management on board. He also provides a glimpse into the future – a look beyond Stage-Gate at the new Triple A system. An entertaining and insightful 20 minutes, with lots of solid tips to getting it right.