Innovating On Innovation: A Look At The Challenges Consumer Firms Face To Improve Innovation Performance

Innovating on Innovation The New Leading Practices In Innovation Responding to Business Challenges with Innovation Performance How do we continually differentiate our offerings through Innovation? Competitive Pressures How can our portfolios adapt more quickly? Constant Change How can we improve margins with higher-value products & cost Volatile Commodity Costs reduction initiatives A Look at the Challenges Your Peers Face to Improve Innovation Performance Do you have formal systems & processes to align innovation portfolios with corporate strategies and targets, including the identification of gaps? Map Innovation Strategies Connect Strategies to Portfolio 70% dentiying geps of respondents have no formal system for identifying gaps between corporate Identify Gaps in strategies and targets the Innovation Portfolio Many Ways to Close the Gap! Do you have standardized systems and processes for your front end of innovation that extend across your business? 10% None Effective Idea & Concept Development 39% We have loosely organized tools & processes in pockets of org. More High- Value Ideas at Front End 29% Yes, but they differ across the business 17% Higher Value Products in the Market Only 17% have systems and processes for the front end of innovation that enable collaboration across all business silos 51% Of respondents have systems & processes to prioritize portfolios Which of the following best describes the current state of your portfolio management and prioritization process? 13% Of respondents have visibility into resource constraints Practices that can Drive Innovation Performance? Click on this infographic to request a digital copy or poster of "New Leading Practices in Consumer Goods Innovation" Half Of respondents have minimal or no portfolio management practices Ready to Learn More About the New Leading sopheon Challenges Innovation