For Example: Meeting stretching business objectives
product improvement to increase market share
We ran a series of one-day Innovation Boosters for a market leader for a component in the automotive industry with the aim of developing a pipeline of innovative and cost-reducing improvements to one of their product lines.
They face stiff competition from a qualitatively inferior but much cheaper product. They had set themselves stretching economic targets to be achieved within the next 3 years. Their innovation pipeline had dried up as they had already applied all the improvements at their disposal to the product.
The technical experts had divided themselves into eight different groups to tackle different aspects of the technical challenge. Each team would work on a technical problem within their area of expertise to which there seemed to be few or no new possible solutions.
Our job was to work with these homogenous teams of experts and get them to generate two types of idea: a) new, breakthrough, high potential ideas that could be fed into their innovation pipeline and b) practical “quick win” solutions to address their specific technical problem and contribute to achieving their business targets within the next 3 years.
At the end of the events, participants remarked that they were astonished at the quantity, quality and novelty of the ideas that had been generated. A selection of the ideas generated in each workshop have undergone a feasibility testing and have been submitted for development with a view to achieving their business targets; the most promising new “breakthrough” ideas have been fed into their innovation pipeline.