Growth Innovation in New Product Development Management

This document is a guide that outlines the evolution of research and development management with a focus on growth innovation as a complement to traditional new product development (NPD). It explains how growth innovation serves as an innovation management philosophy that prioritizes growth as the primary outcome of the innovation process. The guide details the limitations of NPD when used in isolation, such as lack of portfolio visibility, prioritization issues, and unpredictable outcomes. It emphasizes the need for organizations to adopt a broader perspective that encompasses the entire innovation portfolio, rather than focusing solely on individual projects. By integrating growth innovation with NPD methodologies, organizations can enhance their innovation pipeline, improve resource allocation, and achieve better alignment with strategic objectives. The guide also discusses key differences between NPD and growth innovation, highlighting the importance of prioritizing projects that generate revenue and the benefits of a culture that supports continuous improvement and data visibility across the innovation process.