Fundamental Benefits That CEOs Are Looking For
1. Profitable Growth. Planned Innovation helps companies achieve continuous product successes without major failures. Plus, the process helps CEOs make better decisions about portfolio management and other crucial issues. As a result, revenues grow in a sustainable manner. And unproductive investments in R&D, manufacturing, and marketing are avoided. So profits increase significantly.
2. Competitive Advantage. Planned Innovation helps identify company strengths and match resources with market opportunities. This leads the company to invest in products and markets where it can achieve technical or market dominance, avoiding highly competitive environments with commodity pricing.
3. New Product Sales. This is the classic core of Planned Innovation that has been implemented and refined over 40 years. We teach clients to predict future requirements by going beyond customers' understanding of their own needs. We help clients create platform synergy and avoid reliance on one product. By consistently developing the right products for the right markets—at the right times—companies boost their sales of new products.
4. Lower Risk. Planned Innovation addresses what you don't know and what you need to know to make a good decision. The process increases the likelihood that a particular product or a given business decision will lead to positive results. And this higher success rate means a lower chance of failure. Plus, one of the biggest business risks is working on the wrong projects, e.g. pet projects, instead of things that can be shown to create the most value.
5. Problem Solution. Ideally, Planned Innovation should be implemented in a specific, step-by-step manner that meets company objectives while immersing much of the top management team in the Planned Innovation process. Yet many times we have been called in to analyze some form of crisis and quickly develop an objective best-case solution.