Idea management and VoC
As we have discussed previously, the impact of new products is the single largest contributor to the future revenue growth of an organization. While market intelligence, product development processes, strategic planning, and technology and resource management all have an impact on the sales of new products, the number one attribute responsible for new revenue growth is idea management.
While many would agree this is true, a major benchmarking study found that only 19% of businesses have an ideation system proficient enough to feed the development process. Furthermore, only 31% of firms have an effective method to select which ideas to actually invest in, and the best performing companies are four times more likely to have ...
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