DEVELOPING A PRODUCT INNOVATION AND TECHNOLOGY STRATEGY

Conrad Bartels Daal

Contents

Method Origin Purpose

Authors Dr. Robert G. Cooper Scott Edgett

Main phases Process-Delivery Diagram Example

Select Strategic Arenas Strategic Bucket method

Method - Origin

Product Innovation

and Technology Strategy

Innovation Managem

ent

Technology Strategy

Innovation Management

The path from idea to market goes through three distinct stages (Verloop, 2006): Generating and conceptualizing ideas Developing and demonstrating the

concepts Investing to extract the value from the

market place

Technology Strategy

The core of a company is not the product that it has or the markets it serves, rather what is knows and what it can do (David, 1998). Technology strategy centers on this knowledge and abilities.

Method - Purpose

Specifies the goals and objectives of the business’s total product innovation effort

Indicates the role that product innovation will play in helping the business achieve its objectives

Research new market/products that the company can operate profitable in

Allocate and commit resources to new product innovation efforts

Map out major development initiatives for a strategic view of future developments

Authors

Two authors Dr. Robert G. Cooper Scott Edgett

Method created by:

Authors - Dr. Robert G. Cooper

Dr. Robert G. Cooper

. Dr. Robert G. Cooper is a retired Professor and co-founder of the Product Development Institute and Stage-Gate Inc.

Cooper is an acknowledged global expert, with over 100 articles and six books published in the field of innovation management

Authors - Scott Edgett

Scott Edgettdrop

Scott Edgett is CEO and co-founder of the Product Development Institute and Stage-Gate Inc.

He is a specialist with over 60 published articles and six books in new product development and portfolio management

Main Phases

Process-Delivery Diagram

5 main activities

Product Innovation and Technology Strategy consists of:• Product Innovation Goals,

Objectives and Role• Product-Market Matrix• Strategic Map• Strategic Focus List• Attack and Entry Strategies• Strategic Bucket Map• Strategic Product Roadmap• Project Portfolio

Activity – Select Strategic Arenas

Example – Product-Market Matrix

Market/Product Data synchronization Cloud computing Integration of services

Mobile users X X X

Home users   X  

Mobile and Home Users X X X

Example – Strategic Map

0 1 2 3 4 5 6 7 8 9 100

1

2

3

4

5

6

7

8

9

10

Data accounts

Personal Mobile Statements

Integration of services

Cloud Computing

Data synchronization

Strategic Map

Business Strength

Are

a A

ttra

cti

veness

Activity - Strategic Bucket Method

Strategic Bucket Map

(Cooper & Edgett, 2010).

References

Cooper, R. G., & Edgett, S. J. (2010). Developing a product innovation and technology strategy for your business. Research Technology Management, 53 (3), 33-40.

David, F. (1998). Develop Your Technology Strategy. Long Range Planning, 11 (5), 88-95.

Verloop, J. (2006). Insight in Innovation Managing innovation by understanding the Laws of Innovation. The Hague: Elsevier B.V.

Questions