Eliminating Waste at the Front End of Innovation
Time, money, and effort are often wasted in new product development due to the late discovery of something important. An iterative, exploratory process can avoid such waste.
The front end of innovation (FEI), where research investment generates innovative new product concepts, is crucial to keeping a company’s entire product innovation effort nourished with significant new opportunities. Yet despite its importance, researchers working in the FEI often encounter situations where time, money, and effort seem to be wasted.
This paper considers three typical examples of waste in the FEI and presents an exploratory process designed to avoid such waste. In stark co…
Top