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The Future of Innovation Management: The Next 10 Years

The Future of Innovation Management: The Next 10 Years

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Published by: Crowdsourcing.org on Jul 01, 2011
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02/26/2013

 
Prism / 1 / 2011
 
21
Earlier in this issue we looked at the recent history of in-novation management, and Arthur D. Little’s pivotal role indeveloping some of the key approaches and tools that arewidely used today. Looking back is natural as we celebrateour 125th anniversary – but perhaps more interesting isto look forwards. In our client assignments we very oftenwork at the leading edge of innovation management help-ing to develop new approaches and tools, and so we havea good view of the current “state-of-the art”. But what canwe expect in the next 10 years? What key trends do wesee in the way companies are managing innovation? Whatapproaches and concepts are going to be ground-breaking,and what will this mean for business leaders?To help answer these questions we launched a new surveyof the opinions and perspectives of nearly 100 Chief Tech-nology Officers (CTO) and Chief Innovation Officers (CIO)from around the world. We collated opinions from ArthurD. Little’s own internal network of innovation managementpractitioners. And we also canvassed the views of somedistinguished international experts and academics in inno-vation management. We are very grateful for their insightsand contributions.The results are fascinating – both expected and unexpect-ed – and relevant across all the leadership functions. Inthis article we’ve tried to summarize the main points, be-ginning with emerging innovation management concepts,followed by some overall trends and anticipated changes inthe CTO/CIO role.
Five innovation management concepts to watch 
From the research we identified key changes in five dis-tinct but interrelated innovation management concepts asbeing important for the years ahead (see Table 1).
 The Future of Innovation  Management: The Next 10 Years
 Rick Eagar, Frederik van Oene, Charles Boulton,Daniel Roos and Cindy Dekeyser 
Literature is rife withbooks and articles onthe history of innovationmanagement. But whatabout the future? To findout more about the futureof innovation manage-ment we conducted a sur-vey of the opinions andperspectives of nearly100 CTOs. This articledescribes the five majorinnovation managementconcepts to watch in thenext ten years.
 
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Prism / 1 / 2011
 The Future of Innovation Management
Let’s look at what we mean by these.
1. Customer-based innovation
‘Customer-based innovation’ is all about finding new andmore profound ways to engage with customers and de-velop deeper relationships with them. In our survey, CTO/ CIO’s rated this as the most important concept of all interms of investment priority for the coming years. Custom-er-based innovation is driven strongly by the convergenceof three key trends:
Total customer experience:
Driven by a desire to builda deeper relationship with the customer, what used to bea business model for B2B businesses with only a limitedcustomer base is quickly developing within other spheres.Japanese and German vehicle manufacturers (for exampleLexus, Infiniti and BMW) continue to explore ways ofdesigning an ‘ownership experience’ rather than just a car,designing service and support at all touchpoints with thesame care as they design the cars. Such skills will servethem well as we move towards electric cars and need tomanage customer acceptance issues around batteries andtheir replacement. Peugeot offers the rental of cars, vansand bicycles using their branding and their products. This
Table 1
Five innovation management concepts to watch
Source: Arthur D. Little analysis
Customer-based Innovation
Total customer experience
Design-in emotional aspects
Flexible customer interaction
Employee engagement
Proactive Business ModelInnovation
‘Thick value’
Modular approaches
More market adaptation
Integrated Innovation
Integrated within strategy
Systematic non-NPD innovation
Embedded ownership
Radical/disruptive innovation
Frugal Innovation
New segments, new needs
Radically new low cost
Back applications in moreaffluent segments
Frugality and Affordabilityinnovation mindset
High Speed/Low RiskInnovation
Trial and experiment
24/7 development
Gradual rollout
12354

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