Mastering Speed, Risk, and Competitive Advantage in Product Development
In the constantly changing landscape of product development, companies must innovate fast to maintain relevance and competitive edge. As experts at the forefront of creating business value, we understand achieving success hinges on managing the delicate balance of speed, risk and securing a competitive advantage.
At CDP, our work focuses on strategic pillars that address these key needs to propel both effective and efficient product development:
Avoid endless research loops
Trust, collaboration, and flexibility
Getting stuck trying to solve the complex problems that emerge during the innovation process can fuel prolonged and repetitive research that provides a false haven from leaping into action. The five main reasons for slow progress are:
1. Lack of culture and processes that enable problem-solving
2. Need for greater team diversity
3. Hesitation in seeking external ideas or support
4. Multi-faceted projects having siloed teams working independently
5. Lack of planning, strict deadlines, decision-making, and recognition of ‘good enough to test’
Speed to success is the culmination of internal and external expertise. External support maintains a focus on the problem, brings a fresh perspective, allows for quicker decision-making, and manages risks. What’s more, ideas aren’t dampened by internal beliefs.
However, internal and external teams must work collaboratively to understand commercial requirements, operational capabilities, and prior experiences – building these strategic partnerships is what will set you apart in a crowded marketplace.
Our mission is to improve lives through innovation.
Innovation often requires solving complex problems. Even the most successful organizations sometimes need additional people, experience and capabilities to help solve them. This is where Cambridge Design Partnership can help.
Wherever you are in your journey, we’ll help redefine and solve these problems. As a highly skilled team of strategists, scientists and engineers, we can do this quickly.
We can fit anywhere in your innovation cycle – from market research, through concept design and prototype realization, to production. We’ll help accelerate your time to market, deliver competitive advantage, and improve the lives you serve.
If you’re looking to accelerate your innovation project, contact our team today.