What is Planned Innovation?
A Proven Approach for Profitable Business Growth with Less Risk
The Planned Innovation® approach has been successfully implemented and refined over the past 40 years. Briefly, it is a market-oriented, scientifically-based, entrepreneurial approach to achieving higher levels of sales and profits in new or existing firms. Broadly applicable, it has a proven record of success at dozens of Fortune 500 companies and privately held firms.
Helping Businesses Develop and Maintain Winning Products
The initial applications of Planned Innovation were to increase the rate of success in new product development, which has hovered around 60% for decades. Instead of merely asking customers what they want, the process is designed to provide a thorough understanding of market requirements for successful innovation. It also helps match company resources to opportunities and discovers the highest and best use of R&D investments. By demystifying the "fuzzy front end" and more quickly shifting resources to projects with the most potential, Planned Innovation has consistently achieved new product success rates of over 90% without any major failures. That makes Planned Innovation a fast and efficient route from invention to innovation.
Invention = a solution to a problem (unmet need)
Innovation = the commercially successful use of an invention
The original focus of Planned Innovation has been expanded to integrate strategic new product decisions with strategic and tactical decisions concerning existing products and services. By maximizing the return on current products and increasing new product sales and profits, Planned Innovation helps companies meet and sustain their growth and profit goals.
Helping Executives Make Better Decisions
Over time, Planned Innovation has evolved into a management system for improved decision making and problem solving. It has proven to be an excellent diagnostic tool for finding out what changes are needed in an existing business. Uniquely packaged with executive coaching, our services enable clients to continue to implement the Planned Innovation process on their own. Executives use it to match actions to mission, create sustainable competitive advantage, and advance their own careers. In the process, their companies develop a more productive and entrepreneurial company culture.