New Product Development, looking beyond Horizon 1
The manufacturing industry has to roll up its sleeves and re-think its new product development strategy. It is essential to go beyond refining existing products.
Clarity in the Complexity of Innovation
Innovation is complex! In a series of blog posts Creax brings clarity through unbiased research of 54,000+ research papers on #Innovation. We guide you through innovation trends and give insights how companies deal with this. Discover the results, download the high-res #infographics and follow us.
Innovation Fact 1 – Existing solutions never last
Functions remain, solutions change. When addressing perceived needs in the market, go beyond solutions and try to clarify the main functionality you are trying to provide.
Innovation Fact 7 – Keep it simple
Keeping things simple has many advantages. Look at your products or services and ask yourself: “Does it really need to be this complex?” Can I make it easier for users, without losing essential elements”?
Innovation Fact 8 – Too busy to innovate
Planning is essential for innovation – the pull of the ‘urgent, not important’ of routine tasks is just too strong.
It’s time to take action and re-tune, plan more time for the important long-term projects, because these are the ones that will help your company to remain relevant.
Innovation Fact 9 – Learn to listen
By responding to the real needs and interests of your target groups, you learn how you can innovate. Never assume you know all there is to know about your product. Learn to listen and reap the benefits of the gathered insights.
Innovation Fact 10 – Sell an old idea to someone new
Developing new solutions can be expensive, complex and risky. So why not identify new applications and markets for your existing knowledge and solutions? This lowers the risk and leads to new successes faster and cheaper.
Innovation Fact 11 – You are never too big to fail
Innovation is often seen as risky, but it doesn’t have to be a fuzzy process of trial and error. By applying a proven method and understanding your industry and market, you can make informed decisions, removing the risk from innovation.
Innovation Fact 12 – Know when to innovate
Getting the timing of innovation right is fundamental to maximizing the returns. Bad timing can lead to disaster, whether you get to market too early or too late. These are the items to consider.
Innovation Fact 13 – Learn from the best: biomimicry
Biomimicry or learning from nature will only gain importance in the future. Before companies make any design decisions, they should ask: “How would nature solve this problem?”.