Innovation & Technology in an Age of Uncertainty

Innovation in an Age of Uncertainty
Innovation in an Age of Uncertainty

New Product Development in an Age of Uncertainty and Complexity

Today’s business managers and executives are now acutely aware that changes in the post COVID-19 pandemic business environments will be manifold. Some are unpredictable and they will likely engulf almost every market and industry.

This at a time when many are still trying to absorb, incorporate, and take advantage of the benefits of recent rapid advances in technologies such as IoT, apps, sensor technology, and AI.

This level of uncertainty and complexity seems likely to continue for some years to come. The understanding and successful navigation of these challenges will however have the potential to generate innovative new products.

Despite these circumstances, some longstanding tenants for successful new product development principles will still apply.

  • Successful new products will be those that reduce the
    complexity of a customer’s process that is growing ever more complex.
  • Partnering with the supply chain and the end-user customer is an imperative for successful new product development outcomes.
  • Target opportunities where there is an urgent requirement to solve a complex problem.

In addition, today’s and tomorrow’s most successful new products will require “customer connectivity”.

It is within this environment of uncertainty, complexity, and rapidly advancing technology that those who can best determine the needs of customers, defined and undefined, will have successful new product development outcomes.

With special thanks to David Harbourne former President of Fusion UV Systems and Heraeus Noblelight America

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