ENTERPRISE THINKING MetaMatrix Consulting Group NEW PRODUCT & SERVICES DEVELOPMENT Adjunct Associate Professor David A. Goldsmith MetaMatrix Consulting

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ENTERPRISE THINKING MetaMatrix Consulting Group NEW PRODUCT & SERVICES DEVELOPMENT Adjunct Associate Professor David A. Goldsmith MetaMatrix Consulting Group, LLC. 8248 Barksdale Lane Manlius, NY 13104 Phone: (315) 682-3157Fax: (315) 682-0509 Email: david@davidgoldsmith.com website: www.metamatrixconsulting.com Slide 2 ENTERPRISE THINKING MetaMatrix Consulting Group TEXT BOOK Main Text Winning At New Product Development: Accelerating the Process from Idea to Launch by Robert Cooper (3 rd edition) Published by Perseus Publishing Suggested Reading Revolutionizing Product Development By Wheelwright and Clark Published by Free Press Slide 3 ENTERPRISE THINKING MetaMatrix Consulting Group COURSE REQUIREMENTS & ATTENDANCE To earn CEU attendance is required at all sessions. Course requires full class participation & assignments. There will be no exams. There are assignments for each session which includes a final project. Grading is based on how much each individual learns during the course. 25% of the grade will be for class participation 25% will be for the first assignment 50% will be for the final project. Slide 4 ENTERPRISE THINKING MetaMatrix Consulting Group Today 09:00 AM Introduction; overview; your expectations; what new product and service development means to you; the final project; grading; and defining new products. 10:00 AM Organizational and new product visions, goals, and strategic directions. Teams will work on establishing vision, mission, goals, and strategies for your real or hypothetical New Product Development Group(NPDG) and for new products. 11:00 AM Why new products fail & critical factors for success. 12:00 PM - Lunch 1:00 PM Continued 04:00 PM - Adjourn Slide 5 ENTERPRISE THINKING MetaMatrix Consulting Group FINAL PROJECT The Process You Would Use To Develop A New Product Or Service And The New Product Or Service That you Have Developed From The Process. 1. The vision, mission, goals, and strategies of the NPDG. 2. The general criteria for the NPDG. 3. Description and diagram of the NPP. 5. The specific criteria for the new product or service. 6. Your business evaluation of the new product. 7. The next actions you will take. Slide 6 ENTERPRISE THINKING MetaMatrix Consulting Group What are your expectations? Namecountry If employedwhere? Position you currently holdif any? What would you like to learn? If you learned it, what would it do to your business or you? One unique thing about yourself that others may be surprised to know. Slide 7 Russian Roulette $10 Million Dollars Slide 8 ENTERPRISE THINKING MetaMatrix Consulting Group Goals for you Create a mind shift Increase your awareness and knowledge Develop a system for your firm to use. Part educational Part group activities Part interactive Use of examples Slide 9 Educating Your Mind A mans mind, once stretched, never goes back to its original dimensions. Oliver Wendell Homes Slide 10 ENTERPRISE THINKING MetaMatrix Consulting Group WHAT ARE NP&S? ? Slide 11 ENTERPRISE THINKING MetaMatrix Consulting Group They can be Concepts Solutions to problems New technology New to the company Line extension Service extension Slide 12 Product of the Highway Industry E-Z Pass changes The need for toll personnel The need to count cash The need to generate reciepts The need for accounting personnel The need for people safety Benefits to driver Speed of processing One simple bill No cash as a driver Consolidate invoices Waiting in line diminished Slide 13 New Products from Coca-Cola Vanilla Coke May 8, 2002 Diet Coke with Lemon in October 2001 Cherry Coke in 1986 New Coke 1985 Diet Coke in 1982 Slide 14 ENTERPRISE THINKING MetaMatrix Consulting Group The Can Sherwin-Williams Inc The new plastic can is largely a response to the growing number of women who not only make most decorating decisions at home but also are taking brush in hand, said Adam Chafe, director of marketing for Dutch Boy. Test marketed in Syracuse NY Nottingham Spirk Design Associates Slide 15 ENTERPRISE THINKING MetaMatrix Consulting Group New to consumer End user Continuous Innovation Car, Television, chair, Windows 2000 Dynamically Continuous Innovation Digital watch, Laptop Discontinuous innovation MP3 Slide 16 ENTERPRISE THINKING MetaMatrix Consulting Group New to a company Technology introduction Inventions within firm Innovations Addition to existing products New to market New to market segment Slide 17 ENTERPRISE THINKING MetaMatrix Consulting Group New to a company or trade New to a country Mexican Food in US New to a category DVD New Brand Victoria Secret Repackaging Financial Services Repositioning Apple Line Extension size, color, shape Slide 18 ENTERPRISE THINKING MetaMatrix Consulting Group NP&S define business Sales Hiring Manufacturing process Vendor selection Technology Planning Channel Customers Banking Media Advertising Location Alliances Competition Education Legal Slide 19 ENTERPRISE THINKING MetaMatrix Consulting Group NP&S are all over your firm Accounting Invoice, Software IT Software, Server, Computers HR Training, Handbook, Leasing Maintenance Chemicals, Tools Logistics Shippers, Online tracking Engineering New process, Forms Design On-line service, ASP Finance Proposals, Credit Cards Sales New video, Products Manufacturing Equip., Staging Systems Operations 24 tech Support, Site Select Marketing Ad Campaign, Survey Slide 20 Role of management is to create the systems and supply the tools for employees to produce predictable reliable results.continuously. Slide 21 ENTERPRISE THINKING MetaMatrix Consulting Group Less glamour, more profit Big firms are better at less eye-catching forms of innovationadding the twist to the snack food, for example, and generally improving the ways in which products invented elsewhere are manufactured, marketed and continually enhanced. Henry Ford... did not invent the automobile. He invented a far superior way to manufacture it, the mass-production assembly line. The Economist Apr 22nd 2004 Slide 22 ENTERPRISE THINKING MetaMatrix Consulting Group The Results 1, 2 or 3 items 100% 47% 32% 64% Anticipated Results Actual Results Slide 23 ENTERPRISE THINKING MetaMatrix Consulting Group Jump right in Draw a picture of how you do it now. Slide 24 ENTERPRISE THINKING MetaMatrix Consulting Group Review of your process. Where did you enter the process? Where did your employees add input? Where did you make the decision to go ahead? Where did accounting, manufacturing or human resources enter the picture? Slide 25 ENTERPRISE THINKING MetaMatrix Consulting Group The Management Toolbox We use meetings to increase productivity We use time management to create time We use statistical analysis for guidance. We create teams to gain synergy We design buildings to increase efficiency Our tools are our decisions and the better we make the process the more predictable is the result. Slide 26 Rule of 80/20 A firms ability to compete and employees ability to succeed is driven primarily by the structure the firm has to offer. The role of management is to thinkdesign the structure, processes and goals to insure the probability of success. Slide 27 ENTERPRISE THINKING MetaMatrix Consulting Group Create systems and tools Define and refine process Teach the firm to use it Slide 28 ENTERPRISE THINKING MetaMatrix Consulting Group 2 Main Tools Funnel Development Process Stage Gate Slide 29 ENTERPRISE THINKING MetaMatrix Consulting Group NEW PRODUCT IDEA ATTRITION 100 90 80 70 60 50 40 30 20 10 0 0 10 20 30 40 50 60 70 80 90 100 IDEA GENERATION SCREENING EVALUATION DEVELOPMENT TESTING COMMERCIALIZATION SURVIVAL RATE(%) CUMULATIVE TIME IN PROCESS (%) Slide 30 ENTERPRISE THINKING MetaMatrix Consulting Group Funnel Development Tool Internal Forces Management Time Funds External Forces Vendors Customers Market Conditions Wheelright and Clark Slide 31 ENTERPRISE THINKING MetaMatrix Consulting Group Process limits the success Not enough ideas Research misdirected Management late entry Resources not reviewed or wasted Not tied to strategy (poor strategy) Cannot be taught Missed opportunities Risk assessment overlooked 9/11 Shift Slide 32 ENTERPRISE THINKING MetaMatrix Consulting Group Increase the probability of success Generation and collection of ideas for programs, facilitators, and sponsors Objective is quantity Goal is to continually expand the ideas so the final product is the best possible choice Narrow choices for more in depth discussion. Selection should be greater than needed. Final selection has an increased probability of success and higher quality. Change in approach and narrowed based on pre- determined characteristics. Slide 33 ENTERPRISE THINKING MetaMatrix Consulting Group Increase Mouth Customers Vendors Focus Groups Industry Customer Service Consultants Trade Journals Existing Products Magazines/Books Surveys Sales Force Competition Mailings Web Employees Associations Friends Trade Shows Slide 34 ENTERPRISE THINKING MetaMatrix Consulting Group Narrow Scope Research Stats Costs Market Needs Capacity Equipment Finances Facilities Time to market ROI Slide 35 ENTERPRISE THINKING MetaMatrix Consulting Group How can this be powerful Duplicatible Expectations met Formula determines success Easy to teach Increases Creativity Proactive Slide 36 ENTERPRISE THINKING MetaMatrix Consulting Group Slide 37 ENTERPRISE THINKING MetaMatrix Consulting Group Lets try a simple one 1.Take one person in the group. 2.Show their current process 3.Convert it to a more structured funnel Slide 38 ENTERPRISE THINKING MetaMatrix Consulting Group Gun Example Slide 39 ENTERPRISE THINKING MetaMatrix Consulting Group Defining Stages Slide 40 ENTERPRISE THINKING MetaMatrix Consulting Group Stage Gate Process - Robert Cooper Slide 41 ENTERPRISE THINKING MetaMatrix Consulting Group STAGE GATE PROCESS STAGE 1 IDEA GATE 1 INITIAL SCREEN IDEATION PRELIMINARY INVESTIGATION (SCOPING)