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Grow & Prosper: Are Your Innovation Practices Inhibiting Success?
Innovation and new product development are cornerstones for growth in cosmetics and personal care, and yet remain a key difficulty to most companies. Ironically, success is commonly undermined by the internal practices and processes in place. By driving innovation performance, companies can achieve new product success through:
Maintaining “enough” idea as well as “good enough” ideas at the front end for a high-value development funnel
Accelerating time-to-market and meeting targeted product launch goals
Adapting portfolios quickly to respond to changing trends and consumer needs
Improving new product investment decision-making to focus resources on the highest value brand innovations and to contain risk