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Taming the Wild: Product Development as a Risk Management Strategy
Businesses face many uncertainties, especially in today’s complex world. New product development allows firms to manage both internal and external risks leading to improved long-term profitability. Embracing a strategic approach to product development means understanding your customers, building collaborative teams, and generating a culture of learning.
In this presentation, we’ll discuss a risk model leveraging various new product development processes to design effective innovation cultures. You will learn how to evaluate your own organization’s risk tolerance, culture, and team structure to select appropriate product development pathways.
1. Understand risk in innovation from a perspective of requirements uncertainty and technical uncertainty
2. Identify different risk-based approaches to new product development
3. Compare and contrast organizational design of NPD systems based on risk tolerance and culture
Global NP Solutions, LLC
Teresa Jurgens-Kowal is a speaker, writer, and facilitator for innovation leadership. She helps organizations improve time-to-market for new products by delivering enhancements across the innovation ecosystem. Teresa has worked with innovation teams around the world in a variety of industries, including food and beverage, medical devices, publishing, petrochemicals, non-profits, and more. She is the author of The Innovation ANSWER Book, currently in the 2nd edition and the companion book, The Innovation QUESTION Book. Teresa founded Global NP Solutions in 2009, specializing in product development consulting and product management coaching.
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