Small companies and big companies are interconnected. They supply and support one another. Failure of a large core company in a community can have a devastating impact. Failure of a small company, a critical supplier, can disrupt a large organization. Large companies can be skill pumps for a local community
Frustrated directors of NPD from diverse companies are reporting underwhelming results from new product offerings. Diagnosis: Evidence of risk-averse leadership and use of processes that limit creativity and deliver only incremental ideas into the pipeline.
“Fail fast, fail often, move on, and no recriminations…” or perhaps there is another point of view. It is important to know when to cut your losses, but it is also important to give ideas “hang-time.” You can always say “no” in the name of efficiency, yet keeping an idea up in the air, allowing it to float, can yield value.
Turning raw consumer data into actionable insights is sometimes as mysterious as the process that produces pure white, creamy milk from grasses and grains in the three stomachs of a cow. And, if only it were that easy, we’d all have an endless supply of cash cows.