“If you don’t try, you don’t know. We tried; I and you don’t even remember the names of the products that failed. That’s the secret of innovation”. Google’s Chairman, Eric Schmidt
Pressure and support to innovate must come from the company’s leadership.
Long-term marketing and innovation strategies must be prepared and improved regularly. Therefore, companies must work with the experts who have courage to apply these strategies effectively.
- Creating a clear financial budget for innovation management.
- Creating a culture of innovation in the organization.
- Developing and implementing strategic planning. Identifying domestic and global market and customer needs and adapting the company’s innovation portfolio to its strategy through considering long-term sector analysis.
- Defining a clear innovation and well-designed innovation process.
- Design, develop and implement an information process to be cross-functional, involving supply chain, production, technology, regulations, marketing and sales from the development stage to speed up the market launch and commercialization.
- Defining clear roles for each innovation staff.
- Defining clear key performance indicators (KPIs) and effective time management plan.
- Designing, developing and prototyping the right products and/or services through regarding from the eyes of customers and proofing the concepts.
Style of working
- Allowing flexibility and freedom.
- Encouraging and facilitating early experimentation and customer immersion.
It will continue!