Innovating on Innovation: A Look at the Challenges Consumer Firms Face to Improve Innovation Performance
February 26, 2013|
Consumer goods organizations are facing an increasingly challenging business environment. Today’s reality includes managing ever-changing consumer needs, increasing competition and high material costs, resulting in constant pressure as business leaders try to deliver on growth goals.
Sopheon recently presented a webinar, ”Innovating on Innovation: New Leading Practices in Food, Beverage and CPG Innovation for 2013”, in partnership with World Trade Group. The eight leading practices presented during the webinar play a central role in leveraging innovation performance to respond to the business challenges consumer goods business leaders face.
During the webinar, we asked attendees to tell us a little bit about how they approach innovation in their organization. The following infographic provides a glimpse into how your peers are approaching innovation, and some of the steps consumer firms can take to overcome the challenges to improve innovation performance and respond to business pressure.
Effective innovation can be difficult, but improving innovation performance can result in huge payoffs and lead to sustainable, long-term growth. Adopting the eight new leading practices will impact all stages of the innovation lifecycle – from innovation planning to portfolio optimization – and will help consumer firms harness innovation performance to drive business results.
Visit the webinar page to watch the webinar via the World Trade Group’s OnDemand site and download detailed presentation slides. To learn more about the practices discussed during the session, click here to request your detailed poster – available in digital or printed format.