A very relevant but little-discussed question is whether the success of innovation with a carefully crafted idea is higher than with several simultaneously superficially pursued ideas? Statistically, approximately 65% to 80% of all newly launched consumer goods fail after one year. It would therefore make sense to launch as many new products as possible in … Continue reading What matters more in Innovation? Quantity or Quality?
Every industry has its peculiarities when it comes to innovation. Developing a new aircraft requires a different approach than a new consumer good (Ulrich & Eppinger, 2012, p.20). The existing innovation processes such as the Stage-Gate Model or Design Thinking are very general in design, lead to a high flop rate of 65% to 80% … Continue reading How to Innovate in the Consumer Goods Industry