New Products and Corporate Strategy

Except in small organizations new products work is done by people scattered all over the organization chart. There are exceptions, of course, when strong minded executives interested in new products personally lead projects.

But, new product processes usually begin as corporate or strategic business unit strategies. Almost every organization has some overall guiding strategy, spelling out its sphere of activity, its long-term goals or purposes, and guidelines as to how they will achieve those goals. The guidelines may be general, or very specific. These strategy statements are sometimes called mission statements. As such, they set the framework for almost all product activity.

Today it’s very complicated, but evidence shows corporate strategy is necessary, and should do three specific things for new products operations. First, it should offer product strategies for segments of the operation. Second, corporate strategy should accept a risk/gain project portfolio view. Third, corporate strategy should require a technology base on every product.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please contact Asif J. Mir.