Innovation Engineering for Profitable New Product Development
Innovation is no longer an optional business strategy, it's a necessity. In today's competitive world, "if you're not meaningfully unique, you better be cheaper." And, meaningful uniqueness is far more profitable.
Innovation can be slow and risky
A system that increases innovation speed (10x) and decreases risk (30 to 80%) with tools to help your team think smarter & more creatively
When your services and products are Meaningfully Unique:
- Employees are proud and motivated
- Management is optimistic and
- Everyone makes more money and has more opportunities
Meaningfully unique products and services make more money. Period. If you want to get out of commodity market prison and sell on value, then you need to innovate and offer more meaningfully unique services and products to your customers. A Georgia Tech Study found that businesses with a primary strategy of innovation have double the profit margin of those with a primary strategy of low cost.
If America does not innovate, our children will not realize the American Dream. American workers, managers and business owners need to transform from a culture that fears failure to a proactive culture focused on growth. We need to learn again how to transform every company into a growth company that makes money because the services and products offered are worth more to customers.
In the past Innovation was slow and risky. Today, there is a system that increases innovation speed while decreasing risk. The Innovation Engineering Management System is a proven system of tools developed through scientific inquiry - grounded in hard data and proven reliable in real world application. Over the past 25 years, this system and the tools that make up the system were only available to the big companies - Nike, Hewlett Packard, Walt Disney, Procter & Gamble, Slumberger and Ford Motor Company. Now, thanks to the US Department of Commerce’s NIST/MEP Network, it’s available to all companies.
The world is changing and you need to be changing faster than the marketplace to stay ahead of the market. As the Leader, it’s your responsibility to install and implement systemic solutions. Thus, if you don’t have a reliable SYSTEM for growth you owe it to yourself and to your employees to learn about Innovation Engineering.
The Innovation Engineering Management System will bring you and your enterprise the following results:
- A SYSTEM that increases Innovation Speed and Decreases Risk. This is accomplished through teaching and installing a proven and reliable system for how your organization creates, communicates and commercializes ideas. The system focus builds confidence. Research shows that confidence in your innovation system is the #1 driver of company profitability.
- A Quantified Pipeline of Innovations. You will develop a quantified pipeline of innovations starting with the acceleration of existing ideas and moving to the definition and discovery of new ideas that address your Very Important Problems and Very Important Opportunities.
- Transform Cultural Attitudes Towards Innovation. You will transform your employees cultural attitudes, acceptance and proactive involvement with innovation. The System is goof proof and has tools and systems that enable every employee to think smarter and more creatively about Innovation.
- A Smart system - Grounded in Data - that is Continuously Improving
Return on Investment from the Innovation Engineering Management System
Individual results vary, however other companies have realized:
- 72% increase in your team’s confidence to lead Innovation (Ref. 1 below)
- 7X increase in all employees ability to think smarter & more creatively (Ref. 2 below)
- Significant growth in employee innovation confidence, optimism & proactive action in 100 days (Ref. 3 below)
- Ideas to first sale in 10% of the time, at 16% of the cost & with double the odds of success (Ref. 4 below)
- Self-reported surveys from participants
- In quantity and quality trials versus traditional brainstorming
- Assessment benchmark study results 100 days after full management system implementation
- Independent P&G Finance Study and MEP Concept Test Forecasts from the System
Your Executive Team Will Learn the New Way of Thinking About Innovation
What: The Innovation Engineering Executive Program is a 1.5 day training where you and your team of executives learn the fundamentals of how to lead and manage innovation as a “system” that delivers increased speed and decreased risk. The Program is an “Executive Summary” course designed to make senior executives literate in the new innovation mindset. The program is appropriate for executives who are new to Innovation Engineering and to those who have started the process and are looking to expand awareness and understanding.
Why: It is well understood that companies that innovate realize 200 to 300% increases in profit growth when they transform to a proactive innovation culture versus a reactive price driven orientation. However, research indicates that executives feel that innovation can take a long time and can be very risky. The Innovation Engineering field of study and practice transforms innovation from a random art to a reliable business system that delivers increased speed (up to 6x) and decreased risk (30 to 80%). The complete IE curriculum as taught to Innovation Engineering Black Belts on campus and off requires a investment of time and energy to cover the four college courses of content. This program provides a summary appropriate for executives.
How: You learn through Focused Lectures and “Lab” classes during day one. During day two you Apply the learning to your situation. With the help of Innovation Engineering Black Belts you experience translating your growth strategy into Blue Card action plans.
For more information about the Innovation Engineering Management System, IE Executive Program, Jump Start Idea Generation ... or to determine the ideal program for your company's new product development needs, contact our Innovation Black Belt Rob Oram today.