All innovation should be designed to fit within the strategic missions of the company and needs to be aligned with a specific purpose within the competitive landscape from the start. Creativity is essential to this process, but the key ingredient for continued success is to have a disciplined process which keeps all stakeholders engaged and on the same page through each phase of developing and launching any new product. Whether it is a formal process such as StageGate® or a custom-designed methodology developed specifically for your organization, it must be carefully managed and clearly documented to ensure that new product launches are delivered on time and within budget with the desired impact on the business: profitable growth.
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