Piloting the Rocket of Radical Innovation

Authors: Stevens, Greg A.; Burley, James

Source: Research-Technology Management, Volume 46, Number 2, 1 March 2003 , pp. 16-25(10)

Publisher: Industrial Research Institute, Inc

Buy & download fulltext article:

Price: $30.60 plus tax (Refund Policy)

Abstract:

OVERVIEW: The personalities of individuals involved in the early stages (or "fuzzy front end") of new business development have been found to be as important as the process itself. NBD analysts with Myers Briggs Type Indicator^® (MBTI)-based preferences for intuition ("N") and thinking ("T") score highest on a Rainmaker-Index^SM (1). Those in the top third of the Index generated 95 times more profit than those in the bottom third ($8,230,000 vs. $87,000 per analyst), when rigorously coached in the same NBD staged-gate process. Further, 32 of the 33 NBD recommendations from the opportunity analysts made money. This represents a success rate of 97 percent vs. 11 percent when moving from Stage 4 to Stage 7 on the "universal success curve." Fixing the fuzzy front end of staged-gate NBD processes in this way has led to increases in NBD speed and effectiveness of more than 900 percent, by achieving near-perfection in commercialization rates.

Document Type: Research article

Publication date: 2003-03-01

More about this publication?

Research-Technology Management has been publishing peer-reviewed articles covering the entire spectrum of technological innovation since 1958. RTM is a leading source of knowledge and best practices on innovation management, from research and development through product development to marketing, for leaders of research, development, and engineering worldwide.

Not a Subscriber? Free Issue

IRI Members: login here to access RTM online
Editorial Board
Information for Authors
Submit a Paper
Subscribe to this Title
Membership Information
Information for Advertisers
Terms & Conditions
RTM Reprint Collections
Single Article Reprints
Recommend to your Library
ingentaconnect is not responsible for the content or availability of external websites