Excellence in New Product Development & Portfolio Management
A steady stream of successful new products is essential for sustained, profitable growth for the long term. Typically, at any point in time in an established company, there are more potential new product opportunities (along with opportunities to improve existing products) than you can afford to invest in. So the prioritization and selection of those new product initiatives for funding is one of the most critical decisions a business needs to make.
With best-in-class companies, this is indeed a business decision made by multiple functions, not a unilateral R&D or Marketing decision. But the question is, how do you make these critical product portfolio decisions in a way that yields not only the "best" strategy possible… but also in a way that truly “aligns” all functional participants to the decisions… and assures they are committing themselves to the delivery of the business results?
Kakushin Solution Summary
An ideal process is one that taps into the best ideas and thinking of your own cross-functional leaders, allowing them to contribute and take ownership of the journey to bring new products to realization.
At the Kakushin Institute®, we teach and facilitate such a methodology, and we provide the tools to accomplish these results. Using our proprietary process, your team will develop and verbalize a declaration of a “Future State” that everyone wants to be part of. Your team will also develop and align around a specific, quantified goal and metrics to measure your progress… so your team knows when its making progress towards that future state.
You will then align on the right prioritization criteria for scoring proposed new product development projects. Ultimately, you’ll have the right context, the right strategy, the right data and importantly, the right “buy-in” from your leadership team to select those product initiatives to move forward for funding.
This can all be accomplished in both an efficient and effective manner using our proven Kakushin methodology. Why not give us a call before heading into your next new product development project or prioritization effort?