Innovation Research — Rapid Innovation
“I believe in innovation, and that the way we get innovation is you fund research and you learn the basic facts.” Bill Gates
To be innovative, you need to investigate, learn, and expand on the core skills and information you already have. All of these activities have the potential to lead to new ideas and projects.
What’s Business Innovation?
Innovation is more concerned with creating a whole new product or service rather than only enhancing an existing one, such as a brand extension or an enhancement. Disruption in the market occurs when an innovation replaces an existing product or service with something new.
At the core of our rapid innovation process is the ability to quickly identify and address a market’s most pressing issues, then craft solutions around those issues that have a direct impact on profitability. Our process provides:
- Needs driven solutions that generate a greater success rate
- Ability to fill the innovation funnel quickly and efficiently (2 to 3 new products every 16 weeks)
- A measurement
- of the true value of the new product or service delivery
- A robust process that can be applied to both “white space innovation” as well as innovation that is considered “adjacent”
- An understanding of team composition and skills necessary to create a highly functional innovation team
- Development of the organizational alignment and structure needed to become an innovative company
PMG’s goal is to deliver an innovation process that fits your revenue growth goals, reduces risk, and minimizes the time spent on traditional inside-out innovation programs.
Download Rapid Innovation PowerPoint
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