Product Development Institute
Winning

Innovation Performance: Critical Drivers of Success

Scott J. Edgett, Andrea Stroud and Becky Partida
Downloadable PDF
38 Pages
2014

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  • Overview
  • Details & Key Topics
  • Table of Contents
  • About the Author

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How to Build an Innovation Capability

Understand the complexity of product innovation and what it takes to achieve superior performance results. This research report examines the following:

  • How companies are performing today on key innovation metrics
  • Discover the 4 drivers of the Innovation Performance Framework®
  • Proven practices that impact each of these drivers

In this study, world-renowned expert Dr. Scott Edgett collaborates with the American
Productivity and Quality Center (APQC) to analyze innovation performance at
200+ companies, including some of the world's top organizations.

Improve Your Innovation Performance

Understand how leading companies build business value through innovation.
This groundbreaking study establishes benchmarks to gauge product
Improve Your Innovation Performance innovation performance.

Discover if your company is ahead of or behind the game on each driver of the Innovation Performance Framework®:

  • Product Innovation and Technology Strategy
  • Portfolio Management
  • Idea-to-Launch Process
  • Culture and Leadership

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A Complete Guide to Current Measures of Innovation Capability

Discover the latest indicators that companies are using to measure innovation:

  • 4 drivers that determine if a company's innovation capability is high-performing or under-performing
  • 6 important new product performance metrics to monitor

Compare your company's innovation performance to the latest benchmarks:

  • 200+ companies analyzed, including some of the world's top companies
  • Results broken down by top, average and bottom performers
  • 31 practices, approaches and methods that impact innovation performance

Key differences are highlighted based upon the following variables:

  • Company size
  • Geographical location
  • Primary market of focus for product development - business (B2B) or consumers (B2C)

Sample Chart:
Profitability Relative to Spending on Innovation Program

Key Topics:

This study explores performance on key product innovation metrics and the 4 drivers of innovation performance that comprise the Innovation Performance Framework®:

  1. Metrics:
    • Key indicators of product innovation success
    • Current performance benchmarks
  1. Product Innovation Strategy:
    • 6 proven elements that form a robust strategy that guides an innovation program
    • The impact of company size and primary market for product development
  1. Portfolio Management Process:
    • 7 traits that differentiate top, average and bottom performers
    • Key differences in portfolio ratings by geography
  1. Idea-to-Launch Process:
    • 6 key attributes that drive process performance
    • 10 common warning signs of poor governance practices
  1. Culture and Leadership:
    • 6 elements to emphasize to establish a strong innovation culture
    • The impact of successfully managing the human side of innovation projects

A 'Must Read' for people in these roles:

  • C-level Executives
  • R&D and Product Development Executives
  • Product Innovation Program Directors
  • Product Innovation Process Managers

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Table of Contents:

  1. Introduction
  • The Product Innovation Challenge
  • Study Overview
  • The Key Research Questions
  • Sample Profile
  • Defining and Identifying the Top Performers
  • Organization of the Results
  1. Product Innovation Performance Metrics
  • Profitability Relative to Spending on New Product or Service Innovation Program
  • Extent to Which Program Met or Exceeded Sales Objectives
  • Extent to Which Program Met or Exceeded Profit Objectives
  • Commercial Successes Among Products or Services
  • Percent of Revenue Derived from New Products or Services
  • Percent of Profits Derived from New Products or Services
  • Metrics Summary
  1. Product Innovation Strategy
  • Elements of Innovation Strategy
  • Impact of Company Size and Market
  • Innovation Strategy Summary
  1. Portfolio Management
  • Best Practices in Portfolio Management
  • Impact of Company Location
  • Portfolio Management Summary
  1. Idea-to-Launch Process
  • Impact of Primary Market and Company Size
  • Gate Governance
  1. Culture and Leadership
  • Impact of Primary Market and Company Size
  • Culture and Leadership Summary
  1. Conclusions and Recommendations
  • Key Findings
  • Recommendations
  • Words of Caution
  • Doing it Right

Key Benchmarking Figures:

  • The Innovation Performance Framework
  • Industry Breakdown
  • Size of Organization
  • Location of Organization
  • Business Mix in Terms of Selling to Consumer or Business Markets
  • Profitability Relative to Spending on Innovation Program
  • Program Met/Exceeded Sales Objectives
  • Program Met/Exceeded Profit Objectives
  • Commercial Success of Projects
  • Revenue Derived from New Products/Services
  • Profits Derived from New Products/Services
  • Elements of the Product Innovation Strategy
  • Elements of Portfolio Management
  • Attributes of the Idea-to-Launch Process
  • Elements of Innovation Culture and Leadership

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Dr. Scott Edgett

Dr. Scott J. Edgett is internationally recognized as one of the world's top experts in product innovation and is the pioneer of portfolio management for product innovation. He is a high profile speaker and sought-after executive advisor on product innovation. Dr. Edgett has extensive experience advising large multinational clients in a variety of industries, principally focusing on issues affecting innovation leadership and capability. He is credited with helping business executives and innovation professionals successfully implement world-class innovation processes that have generated outstanding results. His speaking engagements and professional work have taken him around the globe to work with some of the world's best innovators and companies among the Fortune 1000.

Dr. Edgett is Chief Executive Officer and co-founder, with Dr. Robert G. Cooper, of both Product Development Institute and Stage-Gate International. He has spent more than 20 years researching and developing innovation best practices and working with organizations in product innovation. He is a prolific author having coauthored eight books including the popular 'Portfolio Management for New Products, 2nd Edition' and has published more than 85 academic articles. Dr. Edgett is a former Professor of the Michael G. DeGroote School of Business, McMaster University in Ontario and is a Faculty Scholar at the Institute for the Study of Business Markets (ISBM) at Penn State University in Pennsylvania, USA.

Andrea Stroud

Andrea Stroud is a Research Program Manager for APQC. She focuses on uncovering and sharing innovation, product development, and supply chain management benchmarks and best practices. Andrea holds a master's degree in project management from Boston University.

Becky Partida

Becky Partida is a Research Specialist at APQC. She focuses on writing and disseminating the results of the organization's research on innovation, product development, and supply chain management. Becky possesses a master's degree in technical communication from Northeastern University.


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