Various studies identify the failure rate of new products as between 70% and 95%, depending on industry, timing, and success definition. Yet, innovation is a critical component of growth for most companies.
Give some thought to your company’s capacity for innovation by scoring the following questions with an “X”…
Some of the above questions are more process related (Q. 1 – Q.5), while the balance are more associated with markets or customers.
This simple questionnaire will help identify some areas requiring focus and resources.
If you would like an outside perspective and are interested in discussing how to strengthen your new product approach, Please use contact us at 1.416.994.6552.