Three Myths of Innovation
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Yet innovation is saddled with anecdotal and nightmarish stories that fan through the industry faster than Hollywood gossip. As a dedicated product manager, research director, or technology designer, how can you counter these false impressions?
In this paper, we describe three popular innovation myths and give you concrete, actionable steps to defeat the fear of risk in NPD.
· Myth #1: If it works today, it’ll work tomorrow.
o Truth #1: Customer knowledge wins market share.
· Myth #2: If it can be built, we can do it faster.
o Truth #2: Good technology, managed well, will deliver NPD profits.
· Myth #3: If we grow the most, we win.
o Truth #3: Strategic planning leads to long-term business growth.
So, while risk and uncertainty are inherent in any journey, understanding your markets, technologies, and strategic thrust will lead your firm to innovation success.