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Innovation and Product Development Diagnostic

Leading businesses embed innovation into their corporate cultures and make product development more efficient. BCG’s innovation and product development diagnostic tool offers clients the insights they need to understand their current strengths and weaknesses in these areas.

The tool highlights areas for improvement and forecasts whether certain types of innovation and process improvements will pay off—and to what extent. It delivers six types of analytic outputs:

  1. Leadership Interviews. One-on-one interviews uncover the executive perspective on the organization’s strengths and weaknesses, including bottlenecks, capability gaps, and other pain points.
  2. Online Survey. An online survey assesses internal perceptions about the organization’s current state of innovation, its overall strengths, and where growth opportunities exist. Responses are benchmarked against those from other companies.
  3. Project Deep Dives. A comprehensive review of current projects offers helpful insights into a company’s successes and failures. The result is a detailed diagnosis of the organization’s true innovation capabilities and barriers to success.
  4. Organizational Structure and Governance. A review of organizational structure and governance creates a baseline and identifies current innovation sources and resources. It also helps reveal obstacles to innovation caused by organizational structure issues. There also is some quantification on the impact of their governance challenges. 
  5. Investment Baseline and Pipeline Analysis. For a view into whether a company’s existing portfolio will actually deliver its expected results, the tool looks at how the organization invests and budgets across innovation stages and segments. This phase looks at factors such as project mix, revenue analysis, cost by project type, and timing of product launches. The results indicate how to best focus a company’s efforts.
  6. Best-Practice Benchmarking. The final component provides a summary of key lessons from best-in-class companies, their successful approach to innovation, and the possible implications for the business.
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