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MRT News & Updates

Healthcare Product Innovation and The Internet of Things – Opportunities, Challenges and Future Directions

Management Roundtable recently co-facilitated a virtual Think Tank on digital innovation for healthcare, Leveraging the Internet of Things to Improve Patient Outcomes, in partnership with Convetit and Benefunder. 

Smart Connected Products Meet Lean Start-up: GE’s Imagination Really is at Work!

While General Electric has been around forever, the company certainly doesn’t rest on its laurels.One of GE’s most impressive new innovations is its FirstBuild Microfactory in Louisville, Kentucky. The idea is to rapidly prototype next-generation home appliances and market test them before scaling up. Using 3D printing and related technologies while offering an incubator of sorts to inventors, entrepreneurs and students, FirstBuild combines the best of ‘Lean Start-Up’ with IoT. The result? Some winners, some failures – but all pretty darn smart.

 

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Can millennials help predict the future of corporate innovation? Management Roundtable and MindSumo launch a challenge to find out

We often hear our customers talk about crowdsourcing to find the ‘next big thing,’ so when we were offered the opportunity to tap the minds of bright college students, how could we say no?  

Unlike many challenges, however, the one we just launched in partnership with MindSumo is not to come up with new product ideas (though that would have been good, too). We set a somewhat loftier goal -- to predict the future of corporate innovation.  

Read more > 

Open Innovation -- Growth Engine or Resource Drain?

Does Open Innovation really pay off for firms?  Who's getting the most bang for their buck - and how are they doing it?  One of the foremost experts on Open Innovation, Dr. Gene Slowinski has seen the good, the bad, and the ugly of strategic alliances for over 25 years. His advice: Go for alliances that shake up an industry.  It is too easy to underestimate resources and end up spending more than planned without much return. Far better to do a few powerful deals than many which are  marginal. For quick tips on generating profitable growth through Open Innovation, check out our FREE article  Making Open Innovation Alliances Pay Off: 5 Keys to Success.  

Are Your Innovation Investments Paying Back?

Perhaps you're not measuring and managing the right things. If your company is still caught up in the decades-old "sales % from new products" quagmire, you need better metrics. What's wrong with "sales % from new products" as a measure of innovation? The same thing that is wrong with pushing R&D investments down to whatever projects barely clear the hurdle of "new product" and the same thing that is wrong with killing a product that owns the market and has a ridiculously high margin. The popular, but misguided "sales % of new products" drives both of these negative behaviors and reduces your R&D return on investment. 

  • A metric such as "margin growth over sales growth" backed by the following measurable actions including:
  • Patent or idea diffusion (not the number of patents, but how good they are)
  • Portfolio balance based on cash flow and payback 
  • Portfolio rate of return 
  • Customer value to feature match 
  • Early phase research decision autonomy

will drive better returns on your innovation investment. Check out Dr. Robert Tucker's tips on improving innovation metrics.

Tech Scouting & Open Innovation: Practices of Industry Leaders - Free Download

How are companies such as Procter & Gamble, Unilever, GE, GlaxoSmithKline, Kraft, Monsanto, Corning and other global leaders innovating new products, expanding boundaries and growing their businesses? How do they choose their scouts, their partners, and the best opportunities?  For an overview, please download our recent research on the top practices.

Voice of the Customer Research Technique that Works (Free Download)

Visiting customers can be a very effective way to gain insights that can help differentiate your product in the marketplace by discovering unmet customer needs that your next release can help address. However, it is important to conduct customer visits properly. Dr. Ed McQuarrie author of Customer Visits offers 16 tips to make your customer visits as effective as possible in this free download.

Are You Actively Monitoring More than 5 Metrics?

If so, you could be wasting time and money. According to Wayne Mackey, impractical and inefficient metrics detract from work and waste time by becoming ends in themselves. A metrics program should include only the “critical few,” says Mackey. To read more click here. [requires brief site registration or FastTrack Membership]

A Maturity Model for R&D Collaboration

Where does your company stand with respect to global R&D collaboration? Maturity model describes four stages of offshore engagement, from least to highest potential value. [Requires site membership]

Examining the Strategic Impact of Investing in External Innovation

Survey by Goldense Group Inc. examines investment in external innovation assets versus innovation training - and the likely strategic impact.  [Requires site membership]

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