Today's executive teams strive to bring more value to shareholders and find new ways to grow the business with 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, however, is that many companies do not achieve this level of continued market success. In part, because they don't employ a repeatable, structured innovation and new product development (NPD) 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 (one of the most well-known of which is the Stage-Gate® process) that effectively support their innovation management requirements.