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This Week in Consulting

Wednesday,March 06th, 2019

Innovation & Product Development: Developing a Strategic System for Turning Ideas into Growth

THIS WEEK’S MUST READ

“Strong innovators are far more likely to use big data and advanced analytics throughout the innovation process than weak innovators, which struggle to leverage data analytics effectively. Strong innovators also consistently use multiple sources of data, originating both internally and externally.”

Innovation is challenging. Nearly three-quarters of executives say it’s a top-three priority for their organizations—yet only 20% believe they are advantaged. Top performers look at innovation as a system. They combine a sharp strategy for where and how to innovate with a fast, agile, and lean development process that efficiently transforms ideas into profitable growth.

This Week’s Must Read features the 12th annual survey of innovation executives published by BCG, in which the consultants discuss various ways digital is transforming products, services, and the processes that create them—and 2018’s list of the 50 most innovative companies. This will help executives to better shape their innovation strategy in 2019.

Read on to Find out More: “The Most Innovative Companies in 2018“, Michael Ringel, Hadi Zablit, Florian Grassl, Justin Manly and Clemens Möller, BCG.


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THIS WEEK’S VIDEO:

To realize changes within a company you need to find people that are passionate and believe in something, rather than focusing on generating bright ideas.

INDUSTRY NEWS & INSIGHTS

THOUGHT LEADERSHIP

  • Product Innovation: Who is really in charge? Product innovation is a priority for virtually every hi-tech company. However, there is often organizational disagreement and confusion around who should own the innovation agenda and how commercialization of ideas should be managed. This lack of clarity can result in a sputtering innovation engine and a risk-averse culture.  | Vinod Devan and Deepti Suri, Deloitte
  • Product Management Trends and Predictions for 2019 :Major changes in market dynamics – everything from the rise of the subscription economy and software as a service (SaaS) to established leaders being threatened by disruptive innovators – have put the function of product management in the spotlight in many organizations. | Jeff Lash, SiriusDecisions
  • Taking the measure of innovation : Don’t overlook the insight that two simple metrics can yield about the effectiveness of your R&D spending. These two metrics combine R&D spending, sales from new products, and gross margin to shed light on relative innovation performance.  | Guttorm Aase, Erik Roth, and Sri Swaminathan, Mckinsey
  • Product Management in the Age of Disruption : The key to offering management is re-imagining what it means to be a product manager. An offering manager is accountable for the full life cycle of an offering, including validating the need in the marketplace; determining the business model; and assessing the implications for engineering, marketing, sales, support, and, of course, budgeting.  | Mark Brinda, David Mortlock and James Dixon, Bain & Company

EVENTS

Consulting Quest wishes to organize a series of webinars with experts, if you are interrested and / or if you wish to make your contribution, please contact us by clicking below. Thank you !

Interested in Submitting?

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CONSULTANT CORNER

  • 50 product management blogs you should be reading: Regardless of whether you’re a newbie PM or a veteran in your field, there are tons of product management blogs worth checking out. | Eleni Deacon, Roadmunk
  • The Creative Consulting Company: This paper introduced several consulting firms that brought in important new ideas which extended management theory and improved management practice. | Robert S. Kaplan, Richard Nolan, David P. Norton

CONSULTING CAREER

CONSULTING JOBS

  • Are you a Consultant with Supply Chain background or prior experience working in Retail/CPG? This may be the opportunity you have been long for. A Client of Consulting Quest – an Asia-based small Global Consulting Firm – is seeking to hire an Engagement Manager to join their newly established office in New York City.  Learn More  

About Consulting Quest

Consulting Quest is a global, performance-driven consulting platform founded in 2014 by former members of top 10 consulting firms with the objective of reinventing consultancy performance. With a worldwide presence and a range of proprietary performance measurement tools, we help companies navigate the consulting maze. We work with Consulting Clients to increase their performance through consulting and Consulting Providers to help them acquire new clients and to improve their performance.

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