Analysis presents methods to successfully manage innovation and generate profit; conference call briefing to be held next Tuesday
Theories that guide market entry decisions and strategies in response to unexpected advantages and threats also lessen the gap between corporate business strategy and the best research and development (R and D) practice.
"Companies are putting more and more output-driven metrics into place," says Technical Insights analyst Michael Valenti.
Companies should carefully consider the balance between the pioneer's advantage and the laggard's disadvantage.
While established companies can overcome the disadvantages of coming in late, a new entrant's survival is threatened if it does not grab the first-mover advantage.
Companies with superior distribution and brand name recognition can afford to delay market entry.
The correct decision on several factors such as market uncertainty, firm heterogeneity, competition, and order of entry can define market success, and companies that manage their innovation process competitively enjoy significant returns.
With the emphasis and scope of corporate laboratories changing rapidly, companies should learn to tailor management style to best accommodate research and other projects.
This raises the issue of new product R and D time schedules.
The popular belief is that a project's quality will be improved only if schedule pressure is reduced.
Conversely, new studies suggest that to improve product quality, already stressed workers should be set to even tighter deadlines.
Setting deadlines that are shorter than estimates improves time-to-market performance.
"We are transitioning from industrial age management techniques to information age management techniques," states Valenti.
The link between corporate strategy and innovation strategy should be seamless.
The R and D department of an organization leveraging its core competencies to create value for customers and bring products to market will improve the overall strategic positioning of the company.
New analysis by Technical Insights, a business unit of Frost and Sullivan, 'Managing Innovation for Profit', provides an analysis of cutting-edge advice on managing research and development projects.
Technical Insights will hold a conference call at 18:00hrs BST (1:00pm US EDT, 10:00am PDT) on 8 October 2002 to provide a summary and analysis of the latest developments in managing innovation strategies. Those interested in participating in the call should send an email to Julia Rowell, jrowell@frost.com, with the following information for registration: Full name, Company Name, Title, Contact Tel Number, Contact Fax Number, Email.
Upon receipt of the above information, a confirmation/pass code for the live briefing will be emailed to you.
