This Week in Consulting
Wednesday,March 06th, 2019
Innovation & Product Development: Developing a Strategic System for Turning Ideas into Growth
THIS WEEK’S MUST READ
“Strong innovators are far more likely to use big data and advanced analytics throughout the innovation process than weak innovators, which struggle to leverage data analytics effectively. Strong innovators also consistently use multiple sources of data, originating both internally and externally.”
Innovation is challenging. Nearly three-quarters of executives say it’s a top-three priority for their organizations—yet only 20% believe they are advantaged. Top performers look at innovation as a system. They combine a sharp strategy for where and how to innovate with a fast, agile, and lean development process that efficiently transforms ideas into profitable growth.
This Week’s Must Read features the 12th annual survey of innovation executives published by BCG, in which the consultants discuss various ways digital is transforming products, services, and the processes that create them—and 2018’s list of the 50 most innovative companies. This will help executives to better shape their innovation strategy in 2019.
Read on to Find out More: “The Most Innovative Companies in 2018“, Michael Ringel, Hadi Zablit, Florian Grassl, Justin Manly and Clemens Möller, BCG.
THIS WEEK’S VIDEO:
To realize changes within a company you need to find people that are passionate and believe in something, rather than focusing on generating bright ideas.
INDUSTRY NEWS & INSIGHTS
- New Deloitte Machine Learning Model Helps Predict and Quantify the Social Impact of Corporate Investment :Accounting and consulting firm Deloitte has developed an advanced measurement tool to help corporations, governments, and stakeholders better determine the impact of corporate investments on various social measures. | Janet Foutty, Darin Buelow and Tony Siesfeld, Deloitte
- Strategy & Resources LLC will add two new practice areas: Premier Support and Contact Center services. The consultancy will also expand its geographical footprint with a satellite office in New York, and will furthermore produce a new quarterly journal. | Cision PRNewswire
- Kantar Consulting is launching its retail, sales & shopper practice in Singapore to answer growing demand for Southeast Asia specific support. This will see the agency hire several new members including David Heijkoop as senior director. | Kantar Consulting
- Trends impacting the internal operations of consulting firms: A new report has identified several major trends hitting the operations of consulting firms. Above all, the research tells companies one thing: a swift adoption of new technology is key. | Consultancy.uk
On the same theme,here is a selection of conferences that you might find useful
INNOVATION AND PRODUCT DEVELOPMENT MANAGEMENT CONFERENCE: IPDMC has established itself as the leading annual international conference in the domains of innovation management and new product development. Papers presented at the meeting come from multiple disciplines…
Product Development & Innovation Summit 2019: A 2-days event concentrating on novel approaches, insights and solutions to gain competitive advantage, accelerate and tailor development and innovation processes.
- Product Innovation: Who is really in charge? Product innovation is a priority for virtually every hi-tech company. However, there is often organizational disagreement and confusion around who should own the innovation agenda and how commercialization of ideas should be managed. This lack of clarity can result in a sputtering innovation engine and a risk-averse culture. | Vinod Devan and Deepti Suri, Deloitte
- Product Management Trends and Predictions for 2019 :Major changes in market dynamics – everything from the rise of the subscription economy and software as a service (SaaS) to established leaders being threatened by disruptive innovators – have put the function of product management in the spotlight in many organizations. | Jeff Lash, SiriusDecisions
- Taking the measure of innovation : Don’t overlook the insight that two simple metrics can yield about the effectiveness of your R&D spending. These two metrics combine R&D spending, sales from new products, and gross margin to shed light on relative innovation performance. | Guttorm Aase, Erik Roth, and Sri Swaminathan, Mckinsey
- Product Management in the Age of Disruption : The key to offering management is re-imagining what it means to be a product manager. An offering manager is accountable for the full life cycle of an offering, including validating the need in the marketplace; determining the business model; and assessing the implications for engineering, marketing, sales, support, and, of course, budgeting. | Mark Brinda, David Mortlock and James Dixon, Bain & Company
Consulting Quest wishes to organize a series of webinars with experts, if you are interrested and / or if you wish to make your contribution, please contact us by clicking below. Thank you !
- 50 product management blogs you should be reading: Regardless of whether you’re a newbie PM or a veteran in your field, there are tons of product management blogs worth checking out. | Eleni Deacon, Roadmunk
- The Creative Consulting Company: This paper introduced several consulting firms that brought in important new ideas which extended management theory and improved management practice. | Robert S. Kaplan, Richard Nolan, David P. Norton
- The Rules of the Consulting Resume :Once you’ve set your sights on consulting as a career path—and figured out what type of firm you would like to work for—the next step is to get your resume ready. | Alexandra Nuth, ATB Financial
- 9 Consultant Skills They Don’t Teach You In Business School: Ways to deflect the divas, how to translate the “blah blah blah”–you won’t find any of these tips in a college textbook. | Nathalie Kleinschmit, Prairie Mix
- Are you a Consultant with Supply Chain background or prior experience working in Retail/CPG? This may be the opportunity you have been long for. A Client of Consulting Quest – an Asia-based small Global Consulting Firm – is seeking to hire an Engagement Manager to join their newly established office in New York City. Learn More
Consulting Quest is a global, performance-driven consulting platform founded in 2014 by former members of top 10 consulting firms with the objective of reinventing consultancy performance. With a worldwide presence and a range of proprietary performance measurement tools, we help companies navigate the consulting maze. We work with Consulting Clients to increase their performance through consulting and Consulting Providers to help them acquire new clients and to improve their performance.
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Hélène Laffitte is the CEO of Consulting Quest, a Global Performance-Driven Consulting Platform and author of “Smart Consulting Sourcing”, a step by step guide to getting the best ROI from your consulting. With a blend of experience in Procurement and Consulting, Hélène is passionate about helping Companies create more value through Consulting.