|[March 13, 2014]
R&D-Product Development Innovation Processes & Metrics Improve Focus On Business Results
NEEDHAM, Mass. --(Business Wire)--
Goldense Group, Inc. [GGI] announces the completion of its sixth primary
research initiative on the strategies, processes, practices, and metrics
used in North American R&D and Product Development Innovation. This
study focused on R&D Operations, Organic Innovation, Open Innovation
[OI], Intellectual Property [IP], and the Top 100 Productivity &
Performance Metrics used by corporations.
Two hundred companies from the US, Canada, and Mexico participated in
equal proportion to the relative R&D Spending of these three countries,
representative of North America. The response rate was 6.5%. A typical
respondent company had US$ 4-5B in revenues.
While the relative corporate activity in Basic Research, Applied
Research, Advanced Development, and Product Development remained largely
constant for the past five years, the infrastructure in these areas
experienced significant growth. Growth will continue. Two-thirds
indicated innovation will be more important in the next five years than
in the past five. Half indicated the same for OI.
The emerging OI and IP marketplaces, corporate enablers to monetize soft
assets, continued to grow. Scouting and innovation intermediary firms
achieved 15% penetration. Joint innovation ventures are reported by more
than a third of respondents. Corporate abilities to track revenues and
profits lag abilities to track costs, his is especially true for OI.
Seventy percent indicate that IP will be more or much important in the
next five years. Three quarters indicate that the financial impact of IP
is positive, none indicated negative. Over a third indicated they have
formalized processes for monetizing IP. Thirty percent are changing
their Trade Secret practices, now that First-To-File has become law in
the United States.
After fifteen years of little change in corporate metrics for R&D and
Product Development, there has been a sea change in the use of metrics
to focus on business results in the past five years. The "R&D sand box"
is almost gone. Twenty-three of the Top 25 metrics now measure pipeline
attributes, productivity, and results.
These findings are excerpts from two
available reports on GGI's
2014 Product Development Metrics Survey. Findings are also located
Product Development™ and Tangible
Innovation!™, and will be discussed at the 17th
R&D-Product Development Metrics Summit in mid April.
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