Posts tagged with “organization”
In a recent Harvard Business Review article, "The Right Way to Spend Your Innovation Budget," authors Peder Inge Furseth and Richard Cuthbertson make the case for a more nuanced understanding of innovation investment, stating that the simple strategy of buying more R&D creates little proven value. In what seems to…
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If you’re a sports fan from Cleveland (home of Newry’s HQ), you know misery. Prior to the Cavaliers winning the 2016 NBA Championship, we endured an unprecedented 52-year, 147-season championship drought. That’s not to say we didn’t get close some years – oh, we got close. But of all the…
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Innovation projects come in all shapes and sizes, from incremental product renewal to bold exploration of blue oceans. But whether extension or transformation, every project begins with a set of assumptions — things we believe to be true. Some are more important than others, and a few are critical: in…
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Despite the huge amount of airtime (and blog-iation) devoted to “blue oceans,” “white space,” and “3rd horizons,” we at Newry are conservative in counseling our clients about reaching beyond their core. In our experience, grass-is-greener thinking is often just an excuse for failing to exploit markets where you already are…
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The internet has revolutionized just about everything – personal communications, mass media, commerce, even market research – by providing access to troves of information about companies, materials, and challenges at an unprecedented scale. Newry itself has benefited considerably from these developments: our SONAR™ process, which leverages data science techniques to…
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“Today, in many industries, the logic that supports an internally oriented, centralized approach to R&D has become obsolete.” When Henry Chesbrough proposed this idea in a 2003 article for the MIT Sloan Management Review, the idea of open innovation – that is, the principle that companies should not and really…
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Growth strategy comes in essentially four forms: developing new products for existing customers; selling existing products to new customers; convincing existing customers to buy more of existing products; or developing new products to sell to new customers. The riskiest and most difficult of these options is, of course, the latter, commonly…
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In order for any R&D department to be successful, it must have a coherent portfolio consisting of a manageable number of projects balanced over a range of time horizons, from pressing customer needs to emerging future opportunities. Too much of any one thing, near-in or far-out, can be problematic: a…
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Intellectual property is a huge driver of a company’s value, estimated at between 50% and 80% of the average company’s market capitalization. It can be leveraged in a number of ways, e.g.: Staying ahead of competitors with new, exclusive features Creating a patent thicket around a market (like smartphones, which…
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“Lean Startup”, a business development and innovation methodology popularized by Eric Ries and Steve Blank, proposes a management approach based on certain core principles that mirror lean production: Generation of evolving business model hypotheses rather than adherence to rigid business plans Focus on customer engagement and feedback to identify problems…
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