Today’s executive teams face a critical imperative as they strive to bring more value to shareholders. They must find new ways to grow the business, often with unprecedented resource constraints. It is possible, of course, to expand via acquisitions, but this strategy has imposing risks and limitations. In almost all cases, a company must drive consistent, ongoing year-over-year increases in profit and revenues.
The reality is, however, that many companies do not achieve this level of continued market success, in part because they don’t employ a repeatable, structured innovation process to govern their innovation initiatives. This paper, the first in a series dealing with how to surmount barriers to sustainable market differentiation, focuses on the problems companies commonly face in trying to establish gated processes that effectively support their innovation management requirements.