Spotlight on Stage-Gate Innovation Champions

Creating Innovation Chemistry for a Sustainable Future
Dr. Billy Grierson, GOH (Science Relations and Innovation Management), BASF inteviewed by Michael Phillips, Managing Director of Global Professional Development, Stage-Gate International

BASF is the world’s leading chemical company. Its portfolio ranges from chemicals, plastics, performance products, and crop protection products, to oil and gas. Their products and system solutions contribute to conserving resources, ensuring healthy food and nutrition and helping to improve the quality of life.

Over a 30+ year career, Dr. Grierson has played a key role in helping CIBA (now part of BASF) improve innovation in all aspects of the business. His key activities are now heavily weighted toward sustaining innovation excellence within BASF through the design and delivery of training programs, facilitation of problem-solving and idea generation workshops, and coaching around the use of the BASF Innovation Chains process. Dr. Grierson delivered a case presentation at Stage-Gate Innovation Summit debunking 4 common Stage-Gate misconceptions, while reinforcing why it is essential that one key characteristic of a Stage-Gate process must never be compromised.

MP: Tell us a little about BASF’s R&D organization.

BG: As a cross-sectional technology, chemistry offers solutions in many areas. In our unique position as an integrated global chemical company, we can make an important contribution with our innovations: “We create chemistry for a sustainable future” is our watchword.

At about 70 research and development centers located in Europe, North America and Asia, our 10,100 researchers in various disciplines are engaged in about 2,800 research projects around the world. Our BASF central research and development organization is also integrated into an interdisciplinary and international network: in about 1,950 cooperative partnerships we are working closely together with partners from science and industry worldwide to develop solutions for a sustainable future.

MP: Where is your group located?

BG: BASF is headquartered in Ludwigshafen, Germany, but the company has a global network of more than 18 research groups. In Europe we have research sites in Ludwigshafen, Münster, Lemförde, Düsseldorf, Berlin, Heidelberg and Trostberg in Germany and in Basel, Switzerland. In North America there are sites at Iselin, NJ; Tarrytown, NY; Wyandotte, MI and Raleigh, NC, and in Asia the main research sites are in Shanghai, China; Mumbai, India; Singapore; and Amagasaki, Japan.

MP: Why is innovation important to BASF?

BG: As an integrated chemical company, we want to drive forward sustainable solutions in three areas – environment and climate, food and nutrition, and quality of life. The days when a chemical company was simply a supplier of chemicals are long gone and BASF tries to offer system solutions where we combine our deep knowledge of chemistry and technology with our application know-how to deliver sustainable and tailored solutions to promote our customers’ success.

MP: What is your most important strength when it comes to innovation?

BG: Worldwide, BASF employs over 10,000 people in research, but this is only the tip of the iceberg. Supporting this is a global sales and marketing organization with close links to our customers and a manufacturing and technology organization with a capability covering almost the whole range of the chemical industry. By bringing experts from all of these organizations together we can not only find solutions to current needs but also anticipate our customers’ future needs and develop innovative solutions.

MP: What is BASF’s biggest innovation challenge?

BG: Our world is changing in many different directions – environment and climate, food and nutrition, quality of life – and each of these brings with it its own challenges. BASF sees chemistry as an enabler to find solutions to these challenges, but it cannot work on its own. We need to develop systems approaches that bring together different scientific disciplines to deliver sustainable solutions

MP: Let’s start with the first.

BG: Environment and climate: Energy and water resources will become increasingly valuable in the future. If our demand for energy does not change, in 2030 we will need about 40% more primary energy. Environment and climate-friendly technologies for energy production are gaining in importance. UN reports state that today 800 million people are already suffering from scarcity of drinking water. Water will become even scarcer as the world population continues to grow. Not only access to water, but also to other non-renewable resources will become more critical.

MP: What about the second challenge?

BG: Food and nutrition: By 2050, more than nine billion people will be living on planet Earth. A growing world population needs more food. The FAO (Food and Agriculture Organization) estimates that we will need 70% more food in the year 2050. Animal feed production will then have to increase from 2.1 billion tons at present to 3 billion tons and meat production will have to increase from 200 million to 470 million tons. People need not only more but better quality foods to further raise their standard of living.

MP: What about your last challenge?

BG: Quality of life: People’s expectations vary greatly from region to region and within different social groups, but they all have one thing in common: they all want to improve their individual quality of life. Global changes such as population growth or urbanization are creating new needs and lifestyles.

In all of these areas, chemistry is an essential part of the solution but only a part. The real challenge will be in developing simple ways of applying that chemistry where it is needed – the best solution in the world will not have any effect if it is too complicated or expensive for the end user.

MP: What is your favorite new product?

BG: I like products that give a simple solution (at least simple in principle, not always in practice) to a particular problem but then find a much wider use, for example, an encapsulated wax with thermal control properties. When incorporated into textiles the cloth has a thermal regulation effect – when the wearer is too hot, the wax absorbs the heat by melting, then when the environment cools the wax solidifies and gives up the latent heat to warm the wearer. A simple approach but with a rather limited market. However the same approach has now been incorporated into ceiling tiles which give an automatic temperature control. Cooling the room if the temperature rises above about 23C and releasing this heat when the temperature drops. These tiles have now been used in the BRE (Building Research Establishment) Innovation Park in Ravenscraig, Scotland (BASF Ravenscraig).

MP: What question regarding your presentation do you think most Stage-Gate Summit delegates would like to see answered?

BG: I would hope that delegates will go away with a better understanding of what things they might do that ironically would prevent a Stage-Gate process from working well and the steps they can take to prevent this from happening.

Improving the Innovation Pipeline and Process
Chester Baker, Head of Global Innovation, Abbott Nutrition interviewed by Michael Phillips, Managing Director of Global Professional Development, Stage-Gate International

For more than 85 years, Abbott Nutrition has been behind some of the world’s most trusted and recognized brands in pediatric, adult and performance nutrition products. In 2010, the company identified gaps in its innovation process that, if filled, could further drive product and packaging innovation. Following a comprehensive assessment, Abbott Nutrition modified its global product innovation system and put a stronger emphasis on how ideas are recognized, developed, evaluated and transformed into products. As a result, Abbott was able to:

• Formulate a new product innovation and technology strategy
• Customize the process using State-Gate which enabled the new strategy
• Implement governance and innovation management best practices

Chet Baker is Head of Global Innovation for Abbott Nutrition and was appointed to this position in January 2010. In this role, he leads a global team of 70+ members responsible for insight discovery and product development of innovation, contributing nearly half of the incremental revenues anticipated in their long-range plan. Chet delivered a case presentation at Stage-Gate Innovation Summit, discussing the journey Abbott took to make innovation a driving force within the company. He shared how Abbott Nutrition and other companies can make the case for change to improve innovation processes, including key performance metrics that drive business growth. He provided insights and key learnings since implementing the strategy and subsequent course corrections made during the process.

MP: Please tell us a little about your R&D organization.

CB: For more than 85 years, Abbott Nutrition scientists have set the standard for science-based nutrition, trailblazing the development of innovative nutritional products and packaging solutions to support the growth, health and wellness of people around the world.

Abbott Nutrition research and development efforts focus on solutions for every life stage – from ensuring babies have a strong start to addressing the unique dietary needs of patients with serious illnesses. Powered by a proven science business model and a commitment to science-based nutrition, Abbott Nutrition R&D teams keep the development pipeline filled with products that allow us to deliver nutrition science that matters.

Abbott Nutrition employs more than 700 scientists, clinicians and engineers in the United States, Europe and Asia. The staff has a broad range of scientific and clinical expertise, including nutrition, pediatrics, gastroenterology, immunology, food science, chemistry, biology, medicine, and engineering.

MP: Please tell us a little about your innovation organization.

CB: Our Global Innovation Office (GIO) is responsible for leading the global innovation process from early-stage insights and ideation through commercial launch. There are two primary groups in the GIO. The i2i team, embedded in markets around the globe, is responsible for market, consumer and environmental insights that can potentially become breakthrough innovations, while the PPMO focuses on execution, driving projects after they have entered the Stage-Gate® process, and handing them off to the commercial team for launch.

Our efforts in innovation focus on six global platforms grounded in key healthcare and healthy living needs: metabolism, immunity, inflammation, cognition, tolerance and lean body mass.

MP: Where is your group located?

CB: The GIO team is headquartered near Chicago, IL, with key offices in Columbus, Ohio; UK; Singapore; China; and India to meet the varying needs of the global population.

MP: Why is innovation important to Abbott Nutrition?

CB: The way we innovate is critical to our global success in a demanding and competitive business environment. Innovation is the lifeblood of our business. It is currently driving a significant percentage our incremental revenue, and that is expected to grow over the next three years.

MP: What is your most important strength when it comes to innovation?

CB: At Abbott Nutrition, our most important strength is that we have built global strategy, insights, infrastructure, and processes that are transforming innovation into a competitive advantage for Abbott Nutrition. By enabling more breakthrough innovations and the ability to get them to our customers faster, we are generating greater market share gains, increased revenues and develop pricing power ahead of our competition.

MP: What is a winning formula for driving innovation in your company?

CB: Our winning formula is simple:

• Consumer insights key to driving relevant innovation
• Disciplined process driven through Stage-Gate architecture with a highly effective governance model including decision rights and prioritization
• Broad range of scientific and clinical expertise, including nutrition, pediatrics, biochemistry, chemistry, clinical research, food, flavor and packaging and processing
• Strong resources and complementary external partnerships that align with our business goals and expand our core capabilities

MP: What is Abbott Nutrition’s biggest innovation challenge?

CB: Our biggest innovation challenge is maintaining the right balance between our biggest innovations and necessary, shorter-term brand maintenance and improvement projects.

MP: What is your favorite new product?

CB: Ensure Muscle Health with HMB, which is targeted nutrition to help rebuild muscle and strength lost naturally over time, because I think it defines who we are as a science-based, clinically proven nutrition company utilizing relevant consumer insights to develop new products.

MP: Looking into your crystal ball what do you think will be the greatest challenges facing innovators 10 years down the road?

CB: While the same holds true today, I think ten years down the road the greatest innovation challenges will be about remaining relevant and differentiated, and doing it faster and better than our competitors.

What’s Brewing within Starbucks’ Innovation Division
Mary Wagner, svp, Global R&D/Quality & Regulatory, Starbucks interviewed by Michelle Jones, EVP, Stage-Gate International

Dr. Wagner began her career in 1984 as an assistant food science professor at the University of Wisconsin (Madison). Since then, she has held executive R&D/Quality and Regulatory positions at General Mills, Unilever, YUM, E&J Gallo Winery and Mars, Inc.. She joined Starbucks in April 2010. Dr. Wagner delivered a case presentation at the Stage-Gate Innovation Summit, highlighting Starbucks’ product innovation system and how Stage-Gate is tailored for an entrepreneurial organization culture.

MJ: Tell us a little about Starbucks’ R&D organization

MW: We have a dedicated R&D group of approximately 70 partners [employees]. That said, Starbucks approach to food and beverage development is a truly cross-functional and collaborative process, which draws on hundreds of partners throughout the company to guide product innovation.

MJ: Where is your group located?

MW: R&D operates out of Starbucks headquarters in Seattle. In addition to our corporate headquarters, we have Centers of Innovation Excellence around the world. For example, our facility in China supports the Asian region of the world and also specializes in global tea botanicals for the entire company. Since our needs at Starbucks are global as well as regional, this decentralized structure allows us to deliver locally relevant products everywhere customers are enjoying the Starbucks experience.

MJ: Why is innovation important to Starbucks?

MW: At Starbucks, we do not purposefully set out to be “innovative.”  Rather, we aspire to be a company of people that share a common passion to create the ultimate coffee experience. Our customers are the best judge of what that experience should be and so we are continually responding to their desires and ideas.

This naturally compels us to improve our products, services and technologies. It also drives us to think on entirely new levels – “new-to-company” and even “new-to-world” products, services and technologies.  The most genuine way to keep our current and future customers happy is by innovating. That is why innovation is so important to Starbucks.

MJ: What is your most important strength when it comes to innovation?

MW: This is an easy one. Our partners are our most important strength (at Starbucks, we call our employees “partners”). We are very fortunate to attract and keep good talent at Starbucks.  Over the years, we can cite specific examples of partners that have led successful new product and technology innovations, even “breakthroughs!”  In addition to strong leadership, we are good collaborators—across functions and businesses—we foster a real team approach to innovation.

MJ: What is Starbucks’ biggest innovation challenge?

MW: We have two big innovation opportunities and both initiatives are underway right now.

MJ: Let’s start with the first opportunity.

MW: We set out on a journey to closely examine the “pockets of innovation excellence” occurring throughout Starbucks in order to learn and understand why we were enjoying success in specific areas. We sought answers to questions like “What leadership characteristics do our most successful innovators have? Why are they so successful? and, “What do their teams do differently?”

We conducted some internal benchmarking with help from the folks at Stage-Gate International. Together, we identified several internal best practices that made good sense to implement with all of our business leaders and innovation teams globally. My goal is to help Starbucks transform its innovation capability to move beyond “pockets of success” occurring periodically—to a global organization delivering consistent, predictable innovation success.

MJ: What about the second opportunity?

MW: I can’t help but chuckle when I explain that our second initiative is the reward we get for becoming really good at thinking innovatively! But it’s true! We have no shortage of really, really good ideas. We receive thousands of ideas for new products, services and technologies from our customers, partners and our suppliers. It’s exciting and energizing!

However, our ability to generate so many good ideas has created a need for us to be even better at something else – prioritization! So, the second initiative is establishing a way to prioritize and select projects that will contribute most to our business strategies. Making tough go/kill decisions is very difficult to do and so we looked to the folks at Stage-Gate International for advice on key external benchmarks and practices. And, given the importance of preserving Starbucks’ entrepreneurial culture, we worked together to customize gate scorecards, prioritization criteria and portfolio charts so they worked well for our needs.

MJ: What has Starbucks gained by participating in IFMA’s and Stage-Gate International’s collaborative Foodservice Benchmarking Initiative?

MW: At Starbucks we have an insatiable appetite for new knowledge, especially when it comes to improving our ability to innovate new products. If there is a way we can improve our results, we want to know about it. As a key leader responsible for much of the product innovation, being on top of industry benchmarks helps me to stay ahead of the innovation performance curve.

MJ: What is your favorite new product?

MW: A tough question, as I like so many!  I would have to say my favorite is probably always the most recent one to launch…in this case Refreshers. This new beverage offers a unique innovation for a cold beverage made from green coffee extract [It’s] very refreshing and crave-able. I must drink at least two Grande refreshers a day from our internal Starbucks store!

Q: This must be fun time to start exploring the broader beverage category.

MW: We saw high customer and partner [employee] demand for a natural energy solution. Starbucks Refreshers beverages are a breakthrough beverage innovation that delivers thirst-quenching enjoyment from green coffee extract, a natural source of caffeine, and real fruit juice to create an energizing, low-calorie beverage. Starbucks Refreshers beverages are the perfect solution for customers looking for a boost of natural energy and thirst-quenching, delicious refreshment.

MJ: What are a few of Starbucks’ top-selling foods? Why?

MW: It really depends on the area and potentially down to a specific store. In some places, it could be oatmeal for breakfast and somewhere else it could be the Protein Plate Bistro Box. It can be a matter of what that store represents in a customer’s daily routine.

MJ: How would you describe Starbucks’ approach to food menu development?

MW: Each year, we will continue to develop and deliver delicious and high quality products that our customers have grown to count on us for. Having a balanced portfolio of items—such as smaller portion-sized sweet treats in our Petites line to lean proteins and whole grains in a grab-and-go Bistro Box for the afternoon—means we are meeting customers’ needs at different day parts.

Some of the best feedback we get is through MyStarbucksIdea.com, hearing directly from our customers what they would like to see in our stores. We take that feedback into account when setting our path forward for 12 to 24 months and beyond.

MJ: You certainly have a wealth of CPG and restaurant experience. What would you tell colleagues about best way to develop new items for Starbucks?

MW: At Starbucks, our partners are always on the lookout for new ingredients, product ideas, technologies, equipment and business partners/suppliers.  Since we receive so many inquiries, I always tell people that before you reach out to us, do your homework.  Take the time to learn about our company, our business strategies and our current products and service portfolio. Even though we’re a global corporation, we can move very quickly on ideas that help us to advance our business strategy.

When you do reach out to us, be prepared to be able to describe how your idea can benefit our customers. Starbucks is in a unique position to connect with the consumer like no other place I have seen.  How we do that and with what, takes consumer understanding,….so your input can help frame up what success would look like!

Using Stage-Gate and a Stage-Gate Approach to Operationalize and Execute Portfolio Management
Wendell Wilson, Global Director of Sustainability Coca-Cola Company interviewed by Michael Phillips, Managing Director of Global Professional Development, at Stage-Gate International

Wendell Wilson joined the Coca Cola Company as CIO of the Africa Group in 2005. In this role, he developed and drove the Group IT strategy across the Continent. He also lead IT Governance, managed data security, bridged business processes and technology and led change management. Currently, Wendell is the Global Director of Sustainability. He is responsible for embedding and integrating Sustainability into core business processes and plans across the system. He is also responsible for development and deployment of the Company’s Value Creation Model and Sustainability Scorecard with key stakeholders from Finance, Marketing, Technical, PAC, Commercial Leadership, Risk Management and other functional areas.

MP: Let’s start by telling our readers a little about yourself and your company.

WW: My name is Wendell Wilson and I have been with the Coca-Cola company for nine years.  I started out with a group based in Johannesburg as the CIO and in total spent four and a half years in Africa.  I came back to North America and joined the Coca-Cola IT team that was outsourcing a data centre before becoming involved with special projects.  Later, I took on the role of Manager of Enterprise Risk Management.  Most recently,  I joined the Chief Stainability Office, to drive a key governance program that has lead me to a role involved with developing a system and methodology to determine programs that are essential to the business, as it relates to sustainability and growth.  For example, choosing the right initiatives, cost analysis and management, looking at productivity reinvestment, and ensuring at the end of the day we have the right programs to drive our business forward.

MP: What is your favorite new product out right now and why?

WW: There are many, that is for sure, at present I really like the GenSight solution we reviewed to help us address program and portfolio management challenges being faced.

MP: In your opinion, what is the single biggest portfolio management challenge that organizations face today?

WW: I think the biggest challenge is ensuring that decisions are made at the right time to choose the best vehicle to drive productivity. Most companies are looking at how to spend wisely, are questioning their innovation strategies and the projects they want to bring into their portfolios. Right now, given the speed of change and global realities I think all companies want to feel more confident that the right decisions are being made at the right time. We know the competition is out there and are equally ambitious and hungry so we have to remain innovative, do things differently and be much more in tune with the market and the expectations of the market. The quality of our decisions will influence how successful we are at this.

MP: What advice would you give to others on how to tackle this challenge?

WW: My advice would be to first identify and understand what your strategic objectives are and then agree on how you will get there. Challenge yourself to make decisions sooner rather than later and understand that at times you may make the wrong decision. You can always course correct your decision to ensure that the company continues to achieve the desired productivity and profitability results wanted. We have found using score cards a very effective tool and technique to measure and manage performance and regularly start reviews by saying “these are the things that you said that you were going to do and this is how you are doing against your goals”. Find opportunities to showcase and recognize success as well as identify areas for improvement and hopefully, people will see value and necessity in the process.

MP: What do you think Summit attendees were the most interested to know/learn about in your presentation?

WW: I hope attendees were keen to learn more about our Stage-Gate approach to portfolio management to facilitate better information management and what was learned rolling this out across the firm. We are very pleased with the impact it has had on the organization. 

MP: Looking into your crystal ball what do you think will be the greatest challenge facing product portfolio managers 10 years down the road?

WW: Not much different than today and that concerns decision making and decision making quality. Product Portfolio Managers can mitigate this if they and their firms invest in some of the different and positive tools that are now becoming available. At the end of the day new product development and program success will be greatly influenced by the decisions that underpin the direction each takes. Failing to get on board by not adopting, adapting and applying these new tools and processes will in my mind be one of the worst decisions a firm can make.

Optimizing Corning’s Process Design with Next Generation Stage-Gate
Bruce Kirk, Director of Corporate Innovation Effectiveness, Corning Inc. interviewed by Michael Phillips, Managing Director of Global Professional Development, Stage-Gate International

Founded in 1851, Corning Incorporated is the world leader in specialty glass and ceramics. Drawing on more than 160 years of materials science and process engineering knowledge, Corning creates keystone components that enable high-technology systems for consumer electronics, mobile emissions control, telecommunications, and life sciences. Through a sustained investment in research and development and their unique collaborative culture, Corning has developed a deep knowledge of materials science and process engineering that they continue to leverage as they innovate for the future. The following is an interview with Corning Inc.’s Director of Corporate Innovation Effectiveness, Bruce Kirk:

As the Director of Innovation Effectiveness, Bruce’s responsibilities include innovation process development and deployment, employee education and training, global benchmarking, and next generation process development. Bruce led their “Revitalize Innovation Globally” initiative in 2004 and is currently leading an effort to identify the Next Generation Innovation Framework for Corning. Bruce will be delivering a case presentation at Stage-Gate Innovation Summit 2013 highlighting how Corning uses its Next Generation Stage-Gate® to accelerate time to market without compromising key Stage-Gate practices.

MP: Tell us a little about your R&D organization.

BK: Corning makes use of a centralized R&D facility located in Corning, NY. We have found this centralized approach allows us to increase the number of creative interactions among scientists as well as assures the resources to work on our most important innovation programs.

MP: Where is your group located?

BK: We are a small team at the corporate level that is physically located in our R&D facility.  Our role is an enabling one: we help our Innovation Programs either get their ideas to market or stop them in the most efficient manner.

MP: Why is innovation important to Corning Inc.?

BK: Corning has existed for over 160 years by continuously reinventing itself. From railroad signal lenses, to glass envelopes for Edison’s light bulbs, to televisions and now displays, to substrates for catalytic converters to optical fiber & cabling, Corning has had a rich history of innovation.

MP: What is your most important strength when it comes to innovation?

BK: I have to cheat and state two: 1) our effective use of diverse/cross-functional teams, and 2) our willingness to invest in fundamental research through good times and slower times.

MP: What is your biggest innovation challenge?

BK: My sense is it would be choosing which innovation programs to pursue. Generally, we do not have any difficulty identifying opportunities. More often, it is difficult to choose between those potential opportunities.

MP: What is your favorite new product?

BK: Gorilla Glass™ . This is a product where the fundamental understanding was gained many years ago and, through persistence, an ideal application was identified that has grown rapidly over a very short period of time.  Editor’s note: Gorilla Glass as described on Corning’s website is a “Visually stunning, lightweight, and highly damage-resistant. It helps protect the world’s coolest smartphones, tablets, PCs, and TVs from everyday wear and tear”.

MP: Looking into your crystal ball, what do you think will be the greatest challenges to innovators 10 years down the road?

BK: The increasing need for global collaboration will certainly be one.  With Corning’s business increasing outside North America so rapidly, global collaboration is growing in importance.

MP: What question regarding your presentation do you think most Stage-Gate Summit 2013 delegates would like to see answered?

BK: How and why Corning’s innovation process has changed since the initial launch of our Stage-Gate process in 1987.

How a Grass Roots Approach to Portfolio Management and Customized Automation has Reduced Speed-to-Market from 150 (Average Days) to Less than 45 days
Claudette Cress, Senior Project Manager, Business Development, CSM Bakery Products interviewed by Michael Phillips, Managing Director of Global Professional Development at Stage-Gate International

Claudette Cress is the Senior Project Manager, for CSM Bakery Products (A Global Bakery Company).  She manages New Product Development (NPD) projects from concept to commercialization. She was selected and distinguished by CSM senior management to lead a revolutionary automated system to improve the NPD process, designed to efficiently commercialize product(s) within 45 days.

MP: Let’s start by telling our readers a little about yourself and your company.

CC: I have been with CSM Bakery Products for five years. My title is Senior Project Manager, Business Development for one of our categories called “Oven Bake.” We specialize in muffins, scones, brownies, cookies, laminated dough and other wonderful decadent treats. I was brought into the organization to help the firm get faster and better at commercializing new products and to manage the number and type of products in the funnel. One of my first and key activities upon joining CSM was to design and then lead the implementation of a new idea-to-launch Stage-Gate process. I then assumed responsibility for training the organization on how to use and leverage this process. Our goal was to be fully cross-functional in our approach to product development so my training initiative was directed across the entire company. We were very successful with this but a fundamental gap was exposed along the way; that we realized would hold us back from achieving an important goal of reducing time to market from 150 days to less than 45 days. The gap arose from not having the right tools to streamline and centralize our process while enabling and facilitating its global usage, which was another key project objective. In essence, having the capability at the touch of a button to see the number of products we were managing, where they were in development, how they ranked and were rated against the hundreds of other products in the funnel or were under consideration. In short, we could not with confidence agree if we were working on the right products or projects and this was a problem.

As a result, we decided to explore what tools/solutions might exist to help us fully automate our process to facilitate global usage while allowing for real time data collection and analysis. We looked at several different Stage-Gate certified vendors and Planview had the package best suited for our needs. We implemented this tool earlier this year and have been extremely happy with its rollout, adoption and the results it is helping us to achieve.

MP: What is your favorite new product out right now and why?

CC: I am going to focus on one of the projects I worked on in the organization since we are a dessert manufacturing industry and the reason perhaps so many people end a meal with such a happy smile. One of the fundamental challenges we face is that we are viewed as a guilty pleasure. People are generally trying to be more health conscious and for good reasons, but truly also desire a treat from time to time; and it is so nice that we developed healthy indulgent treats. One of our new products, that I feel has been a great success, is our whole grain Greek yogurt muffins. What was unique and so gratifying about this particular product is the fact that the prime ingredients are Greek yogurt and whole grain, approximately 16 grams in each muffin. By creating this muffin we were able to deliver a great tasting treat that was also good for the consumer. Based on my experience and knowledge of the food industry, that was truly a new product that showed that, as an organization, we are really thinking about and delivering upon what consumers are saying I was really proud of this launch!

MP: In your opinion, what is the single biggest portfolio management challenge that organizations face today?

CC: I think adapting to new tools to effectively manage increasing demands for greater productivity. Same old, same old just will not cut it anymore as the world is moving too quickly every 24 hours. If you are not prepared to meet changing expectations, to embrace new tools and management methods, ensuring the right projects are being identified/ advanced will become increasingly more problematic.

MP: What advice would you give to others on how to tackle this challenge?

CC: Commit to spending time learning about different tools and software solutions that can help you get the visibility and data needed to underpin your portfolio decisions. Invest in your people to ensure they are trained to use the tools you have given them and make time to attend events like this Summit to network with other innovation professionals to learn what they are doing, what they are finding is working and what they are most worried about. Your greatest skill might be your ability to be proactive and to stay ahead of the curve.

MP: What do you think Summit attendees were the most interested to know/learn in your presentation?

CC: We are extremely happy with the results being achieved since implementing our Planview idea-to-launch and portfolio management solution. Much of this has to do with the improvements we have witnessed with processing, evaluating and prioritizing customer new product requests. Speed to market has improved dramatically and the number of new opportunities competing for a spot in the funnel is up considerably. Prior to rolling out this solution, blind chaos might best describe what was happening with product development in this key business area. Now ownership for prioritizing potential projects has shifted to customer facing personnel which we know is very unique given how portfolio decisions are usually made. I am looking forward to sharing information on this as I see having this capability within an organization a real game changer. It has been for us on a number of levels . . . Very exciting!

MP: Looking into your crystal ball what do you think will be the greatest challenge facing product portfolio managers 10 years down the road?:

CC: The need to develop “new to you” and “new to world” products will remain important to most, if not all, organizations, but, so too will the need to leverage market driven opportunities focused on existing products and platforms. Speed to market and prioritization issues as a result will continue to test product developers. Therefore, ensuring the right products are being worked on will remain a key challenge. As we have found out, the confidence and competency of your people will ultimately dictate how successful one is in this area. I do not see that changing any time soon.

Delivering Stronger Business Results Through Portfolio Management
April Bertram, Innovation Management Director from GOJO Industries interviewed by Michael Phillips, Managing Director of Global Professional Development at Stage-Gate International

As an Innovation Management Director at GOJO Industries, April Bertram has twenty years of experience in leading strategy and innovation, marketing, and product development efforts. In her current role, April manages all aspects of the GOJO Innovation System, where she has been able to redesign the Stage-Gate and Market Intimacy and Development process to incorporate lean, business modeling and social media to build insights and brand equity, as well as create new structures to support the process.

MP: Let’s start by telling our readers a little about yourself and your company.

AB: I started my journey in product development almost 20 years ago and have been with GOJO for a total of 6 years, currently as the organization’s Innovation Management Director. Our Stage-Gate process was implemented 10 years ago, and since that time we have been systematically evolving it including developing a comprehensive portfolio management system. Now, we are looking more holistically at the entire innovation system. This includes the culture component and all the processes within the system. GOJO Industries is the inventor of PURELL® Advanced Instant Hand Sanitizer, and the leading global producer and marketer of skin health and hygiene solutions for away-from-home settings. The broad GOJO product portfolio includes hand cleaning, handwashing, hand sanitizing and skin care formulas under the GOJO®, PURELL® and PROVON® brand names. GOJO is a privately held corporation headquartered in Akron, with offices in the United Kingdom, France, Australia, Japan and Brazil.

MP: What is your favorite new product out right now and why?

AB: My favorite new product is the Tesla electronic car. I love its exquisite design and how Tesla designers have incorporated a variety of new and interesting technologies. Many companies when entering a new market encounter regulatory challenges which tends to slow them down, but this has not been the case for Tesla. Their business model has been successful thus far and I appreciate both their innovative design and the competitive advantage they have developed. It will be interesting to see if they can keep this going in the long term.

MP: In your opinion, what is the single biggest portfolio management challenge that organizations face today?

AB: I think factors such as those related to rapid technological advancement, like the Tesla, globalization and/or ever changing business models are creating new challenges for companies to overcome. Such things as these are really keeping companies on their toes and making it very difficult to maintain portfolio balance while allowing flexibility in order to react quickly to either new market opportunities or challenges. What I foresee could happen is that firms are going to essentially become reactionary in style and will not discipline themselves to maintain portfolio balance. This will lead to portfolio, investment decisions and innovations that are mainly incremental in nature.

MP: What advice would you give to others on how to tackle this challenge?

AB: I think one of the most important actions necessary is to create and maintain balance. Developing a portfolio includes both short-term and long-term projects and, in addition, the will to make changes when something new and interesting presents itself. You may need to put other projects on hold in order to bring new opportunities into the limelight, but that is okay. A key to your success in dynamically managing your portfolio will be having access to real-time data and regular touch points with your portfolio team.

MP: What do you think Summit attendees were most interested to know/learn about in your presentation?

AB: It is a combination of a couple of things. We have embedded what we call a strategy translation process into our annual portfolio review. The tools and activities used are probably unique to GOJO. We conduct traditional data analysis, but we also have a team of innovation black belts that help us do market research (by this I mean such things as data mining, insights analysis, technological advancement reviews, market change impact studies, and future mining, to give us a richer picture of the external situation), so that when we are going through the process of looking at our portfolio, we really feel confident that we have a comprehensive view of what is happening and how it might impact the industries that we service today. We also utilize a special process for translating strategies, into defined innovation platforms and ensuring that we have selected the right projects to advance these key innovation platforms. We have some creative tools and methods for prioritizing projects within the portfolio..

MP: Looking into your crystal ball what do you think will be the greatest challenge facing product portfolio managers 10 years down the road?

AB: This is a fantastic question; I actually think the word “product” could be the greatest challenge facing portfolio managers. If ten years from now, people are looking just at product portfolios they run the risk of becoming obsolete. Portfolio Managers should be prepared to look at the overall business and explore such topics as business model innovation if the want to be successful. Focusing soley on a series of physical products and not how the whole business can bring value to their customers is a recipe, I believe, for disaster.

Operationalizing and Executing Portfolio Management to Support a Customer Intimate Business Strategy?
Richard St-Aubin, P.Eng., Director of Innovation at IPEX Inc interviewed by Michael Phillips, Managing Director of Global Professional Development at Stage-Gate International

Richard St-Aubin is the Director of Innovation at IPEX Inc, one of the largest manufacturers of thermoplastic piping systems in North America. Richard is a Professional Engineer, having completed a Bachelor’s Degree in Civil Engineering at Carleton University in 1992.  Prior to attending University Richard served for three years in the Canadian Armed Forces as an Artilleryman.

MP: Let’s start by telling our readers a little about yourself and your company.

RS: Hi, my name is Richard St-Aubin and I am the Director of Innovation at IPEX. IPEX is one of the largest manufacturers of thermoplastic piping systems in North America. We have been in business as IPEX for over 20 years now and we have the widest range of plastic piping products and systems in the market today. We began life as Scepter Plastics in 1954 making hula hoops. Since then, we have developed into one of the largest global corporations making plastic piping systems for a lot of different market sectors. Although you might not have heard of IPEX, you probably have one of our products under your sink or under the road in front of your house. Our products are found everywhere and as a result, new product development and innovation is definitely an important element to IPEX.

MP: What is your favorite new product out right now and why?

RS: We just had a major product launch, our next generation electrical junction boxes. We participate in a lot of different market sectors, including the electrical cable protection market. We have been making junction boxes for many years, but the design has not changed since the 1970s; this is true for our competitors as well. The reason this is my favorite product is because it incorporates a unique industrial design, clever engineering and really cutting-edge manufacturing to produce a product that is head and shoulders better than its rivals. This market has not seen this type of innovation in a really long time and we are extremely proud of its success. There are tremendous opportunities for product improvements and innovation, especially in the piping industry. Our ‘j-box’ generated a lot of buzz in the marketplace and it really is innovative and demonstrates what can be done in terms of innovation.

MP: In your opinion, what is the single biggest portfolio management challenge that organizations face today?

RS:  There are two really big challenges that our organization faces. One of them is the 50,000 foot view of connecting portfolio management with the company strategy. Our company strategy is very customer focused and intimate. We work with our customers very closely and truly worry about their business success just as much as we worry about ours. As a result, it often becomes difficult to align portfolio management with our corporate strategy – often our customers are looking for incremental product improvement while we believe it is important to focus on big, leading edge innovations.  The tension between these two forces is the challenge of portfolio management at IPEX.

The other big challenge is more operational – how do we tackle uncertainty? When looking at projects we try to compare them on an apples-to-apples basis. When two projects require the same amount of resources and have the same financial payback, which project do you pick? Determining uncertainty within project selection continues to be a challenge: which project will be more successful; which one will have a higher ROI; which one will have those intangibles that we expect? Taking all the different criteria into consideration and then analyzing in some sort of model to compare projects continues to be our biggest operational challenge. I think this is especially true for small to medium-sized corporations like ours and/or for companies that are just starting for formalize a portfolio management system.

MP: What advice would you give to others on how to tackle this challenge?

RS:  I believe every company needs to have a corporate strategy regardless of how well it is articulated. The company strategy usually has to do with what the company does or develops and for us it is driven by a vision to develop products that will help our customers sell to their markets and be successful. A strategy needs to guide you on what projects should be done, but perhaps more importantly, what projects should be killed. If your company strategy is not defined enough to give you this guidance, then more work is needed on it.

In terms of dealing with uncertainty, there are a lot of different tools and simulations that can help manage financial issues and provide risk analysis on the various projects being considered. My advice would be to seek help from someone that specializes in this field. There are a lot of different companies that have expertise in this field and that understand all the different approaches that could be used. I don’t always think that a ‘do it yourself’ mindset and approach is best for achieving the desired business results. Focus on what you are good at and don’t be afraid to ask for help.

MP: What do you think Summit attendees were most interested to learn in your presentation?

RS: I have spent 17 years with IPEX, so I often wonder how other companies are doing things. I suspect there are a lot of people in product development who are in a similar position where you need/want to find out how other people are tackling similar challenges. I think delegates were interested to see how we look at strategy and how we pick projects. Attendees were also interested in why our strategy and approach is so different to that of other companies, how this impacts our customers and perhaps depending upon the nature and maturity of their markets why taking a similar approach might prove beneficial to their efforts. For companies that have a similar strategy and approach, they already know how hard it is to decide on the direction the company should take so learning about our successes and challenges might facilitate the work they are doing currently in this regard.

MP: Looking into your crystal ball what do you think will be the greatest challenge facing product portfolio managers 10 years down the road?:

RS: It’s always difficult to predict the future, but I am confident that the challenges 10 years from now will be similar to the challenges we face today. I don’t think we will be ever able to get away from more projects than resources, different views within the company that pull you in different directions, limited people and limited funding. That is really the challenge of portfolio management. We are comfortable and efficient with using our Stage-Gate process, so we know that we are ‘doing the projects right’, but we are still working on ‘doing the right projects.’ A lot of the time this is not clear cut and I don’t see how that will change; if anything it will become more challenging with all of the technology changes.

Operationalizing and Executing Portfolio Management to Support a Customer Intimate Business Strategy?
Richard St-Aubin, P.Eng., Director of Innovation at IPEX Inc interviewed by Michael Phillips, Managing Director of Global Professional Development at Stage-Gate International

Richard St-Aubin is the Director of Innovation at IPEX Inc, one of the largest manufacturers of thermoplastic piping systems in North America. Richard is a Professional Engineer, having completed a Bachelor’s Degree in Civil Engineering at Carleton University in 1992.  Prior to attending University Richard served for three years in the Canadian Armed Forces as an Artilleryman.

MP: Let’s start by telling our readers a little about yourself and your company.

RS: Hi, my name is Richard St-Aubin and I am the Director of Innovation at IPEX. IPEX is one of the largest manufacturers of thermoplastic piping systems in North America. We have been in business as IPEX for over 20 years now and we have the widest range of plastic piping products and systems in the market today. We began life as Scepter Plastics in 1954 making hula hoops. Since then, we have developed into one of the largest global corporations making plastic piping systems for a lot of different market sectors. Although you might not have heard of IPEX, you probably have one of our products under your sink or under the road in front of your house. Our products are found everywhere and as a result, new product development and innovation is definitely an important element to IPEX.

MP: What is your favorite new product out right now and why?

RS: We just had a major product launch, our next generation electrical junction boxes. We participate in a lot of different market sectors, including the electrical cable protection market. We have been making junction boxes for many years, but the design has not changed since the 1970s; this is true for our competitors as well. The reason this is my favorite product is because it incorporates a unique industrial design, clever engineering and really cutting-edge manufacturing to produce a product that is head and shoulders better than its rivals. This market has not seen this type of innovation in a really long time and we are extremely proud of its success. There are tremendous opportunities for product improvements and innovation, especially in the piping industry. Our ‘j-box’ generated a lot of buzz in the marketplace and it really is innovative and demonstrates what can be done in terms of innovation.

MP: In your opinion, what is the single biggest portfolio management challenge that organizations face today?

RS:  There are two really big challenges that our organization faces. One of them is the 50,000 foot view of connecting portfolio management with the company strategy. Our company strategy is very customer focused and intimate. We work with our customers very closely and truly worry about their business success just as much as we worry about ours. As a result, it often becomes difficult to align portfolio management with our corporate strategy – often our customers are looking for incremental product improvement while we believe it is important to focus on big, leading edge innovations.  The tension between these two forces is the challenge of portfolio management at IPEX.

The other big challenge is more operational – how do we tackle uncertainty? When looking at projects we try to compare them on an apples-to-apples basis. When two projects require the same amount of resources and have the same financial payback, which project do you pick? Determining uncertainty within project selection continues to be a challenge: which project will be more successful; which one will have a higher ROI; which one will have those intangibles that we expect? Taking all the different criteria into consideration and then analyzing in some sort of model to compare projects continues to be our biggest operational challenge. I think this is especially true for small to medium-sized corporations like ours and/or for companies that are just starting for formalize a portfolio management system.

MP: What advice would you give to others on how to tackle this challenge?

RS:  I believe every company needs to have a corporate strategy regardless of how well it is articulated. The company strategy usually has to do with what the company does or develops and for us it is driven by a vision to develop products that will help our customers sell to their markets and be successful. A strategy needs to guide you on what projects should be done, but perhaps more importantly, what projects should be killed. If your company strategy is not defined enough to give you this guidance, then more work is needed on it.

In terms of dealing with uncertainty, there are a lot of different tools and simulations that can help manage financial issues and provide risk analysis on the various projects being considered. My advice would be to seek help from someone that specializes in this field. There are a lot of different companies that have expertise in this field and that understand all the different approaches that could be used. I don’t always think that a ‘do it yourself’ mindset and approach is best for achieving the desired business results. Focus on what you are good at and don’t be afraid to ask for help.

MP: What do you think Summit attendees were most interested to learn in your presentation?

RS: I have spent 17 years with IPEX, so I often wonder how other companies are doing things. I suspect there are a lot of people in product development who are in a similar position where you need/want to find out how other people are tackling similar challenges. I think delegates were interested to see how we look at strategy and how we pick projects. Attendees were also interested in why our strategy and approach is so different to that of other companies, how this impacts our customers and perhaps depending upon the nature and maturity of their markets why taking a similar approach might prove beneficial to their efforts. For companies that have a similar strategy and approach, they already know how hard it is to decide on the direction the company should take so learning about our successes and challenges might facilitate the work they are doing currently in this regard.

MP: Looking into your crystal ball what do you think will be the greatest challenge facing product portfolio managers 10 years down the road?:

RS: It’s always difficult to predict the future, but I am confident that the challenges 10 years from now will be similar to the challenges we face today. I don’t think we will be ever able to get away from more projects than resources, different views within the company that pull you in different directions, limited people and limited funding. That is really the challenge of portfolio management. We are comfortable and efficient with using our Stage-Gate process, so we know that we are ‘doing the projects right’, but we are still working on ‘doing the right projects.’ A lot of the time this is not clear cut and I don’t see how that will change; if anything it will become more challenging with all of the technology changes.

Operationalizing and Executing Portfolio Management to Support a Customer Intimate Business Strategy?
Richard St-Aubin, P.Eng., Director of Innovation at IPEX Inc interviewed by Michael Phillips, Managing Director of Global Professional Development at Stage-Gate International

Richard St-Aubin is the Director of Innovation at IPEX Inc, one of the largest manufacturers of thermoplastic piping systems in North America. Richard is a Professional Engineer, having completed a Bachelor’s Degree in Civil Engineering at Carleton University in 1992.  Prior to attending University Richard served for three years in the Canadian Armed Forces as an Artilleryman.

MP: Let’s start by telling our readers a little about yourself and your company.

RS: Hi, my name is Richard St-Aubin and I am the Director of Innovation at IPEX. IPEX is one of the largest manufacturers of thermoplastic piping systems in North America. We have been in business as IPEX for over 20 years now and we have the widest range of plastic piping products and systems in the market today. We began life as Scepter Plastics in 1954 making hula hoops. Since then, we have developed into one of the largest global corporations making plastic piping systems for a lot of different market sectors. Although you might not have heard of IPEX, you probably have one of our products under your sink or under the road in front of your house. Our products are found everywhere and as a result, new product development and innovation is definitely an important element to IPEX.

MP: What is your favorite new product out right now and why?

RS: We just had a major product launch, our next generation electrical junction boxes. We participate in a lot of different market sectors, including the electrical cable protection market. We have been making junction boxes for many years, but the design has not changed since the 1970s; this is true for our competitors as well. The reason this is my favorite product is because it incorporates a unique industrial design, clever engineering and really cutting-edge manufacturing to produce a product that is head and shoulders better than its rivals. This market has not seen this type of innovation in a really long time and we are extremely proud of its success. There are tremendous opportunities for product improvements and innovation, especially in the piping industry. Our ‘j-box’ generated a lot of buzz in the marketplace and it really is innovative and demonstrates what can be done in terms of innovation.

MP: In your opinion, what is the single biggest portfolio management challenge that organizations face today?

RS:  There are two really big challenges that our organization faces. One of them is the 50,000 foot view of connecting portfolio management with the company strategy. Our company strategy is very customer focused and intimate. We work with our customers very closely and truly worry about their business success just as much as we worry about ours. As a result, it often becomes difficult to align portfolio management with our corporate strategy – often our customers are looking for incremental product improvement while we believe it is important to focus on big, leading edge innovations.  The tension between these two forces is the challenge of portfolio management at IPEX.

The other big challenge is more operational – how do we tackle uncertainty? When looking at projects we try to compare them on an apples-to-apples basis. When two projects require the same amount of resources and have the same financial payback, which project do you pick? Determining uncertainty within project selection continues to be a challenge: which project will be more successful; which one will have a higher ROI; which one will have those intangibles that we expect? Taking all the different criteria into consideration and then analyzing in some sort of model to compare projects continues to be our biggest operational challenge. I think this is especially true for small to medium-sized corporations like ours and/or for companies that are just starting for formalize a portfolio management system.

MP: What advice would you give to others on how to tackle this challenge?

RS:  I believe every company needs to have a corporate strategy regardless of how well it is articulated. The company strategy usually has to do with what the company does or develops and for us it is driven by a vision to develop products that will help our customers sell to their markets and be successful. A strategy needs to guide you on what projects should be done, but perhaps more importantly, what projects should be killed. If your company strategy is not defined enough to give you this guidance, then more work is needed on it.

In terms of dealing with uncertainty, there are a lot of different tools and simulations that can help manage financial issues and provide risk analysis on the various projects being considered. My advice would be to seek help from someone that specializes in this field. There are a lot of different companies that have expertise in this field and that understand all the different approaches that could be used. I don’t always think that a ‘do it yourself’ mindset and approach is best for achieving the desired business results. Focus on what you are good at and don’t be afraid to ask for help.

MP: What do you think Summit attendees were most interested to learn in your presentation?

RS: I have spent 17 years with IPEX, so I often wonder how other companies are doing things. I suspect there are a lot of people in product development who are in a similar position where you need/want to find out how other people are tackling similar challenges. I think delegates were interested to see how we look at strategy and how we pick projects. Attendees were also interested in why our strategy and approach is so different to that of other companies, how this impacts our customers and perhaps depending upon the nature and maturity of their markets why taking a similar approach might prove beneficial to their efforts. For companies that have a similar strategy and approach, they already know how hard it is to decide on the direction the company should take so learning about our successes and challenges might facilitate the work they are doing currently in this regard.

MP: Looking into your crystal ball what do you think will be the greatest challenge facing product portfolio managers 10 years down the road?:

RS: It’s always difficult to predict the future, but I am confident that the challenges 10 years from now will be similar to the challenges we face today. I don’t think we will be ever able to get away from more projects than resources, different views within the company that pull you in different directions, limited people and limited funding. That is really the challenge of portfolio management. We are comfortable and efficient with using our Stage-Gate process, so we know that we are ‘doing the projects right’, but we are still working on ‘doing the right projects.’ A lot of the time this is not clear cut and I don’t see how that will change; if anything it will become more challenging with all of the technology changes.

When Recognized Practices Become the Obstacle to Portfolio Management Project Selection Success
Jennifer Willson, former Director of Innovation at Boral interviewed by Michael Phillips, Managing Director of Global Professional Development at Stage-Gate International

Jennifer Willson was most recently Boral’s Director of Innovation where she managed the company’s innovation processes which included the identification of new technologies, industry opportunities and partnerships.  Over her career she has successfully led the development and commercialization of several building materials technology platforms and supporting products, utilizing a Stage-Gate® idea-to-launch process.  As Director of Innovation at Boral, Jennifer led the development of Boral Composites highly successful “new-to-world” polymer composite siding product and helped this new business develop its first comprehensive product portfolio.

MP: Let’s start by telling our readers a little about yourself and your company.

JW: When I graduated with my masters in chemistry I intended to work in the pharmaceutical industry.  Instead, my first job was with Fiberglas Canada, the Canadian subsidiary of Owens Corning, and I’ve been in building materials ever since.  It’s not a glamorous industry but its products are essential to the construction, comfort and aesthetics of the structures in which we live and work.  I like product development and the intricacies and complexities that it encompasses – customer and partner engagement throughout the development process, cross-functional involvement, delivering value to customers and growth to companies.  I’ve had the good fortune to work for a few companies in this industry.  My most recent role was Director of Innovation for Boral.  Boral is a global construction and materials company based in Australia.  The US subsidiary is a leading manufacturer of brick, roof tile, manufactured stone veneer, and composite trim and siding.

MP: What is your favorite new product out right now and why?

JW: I’ve been impressed by a few “really cool” incremental improvements that automakers have made to their vehicles recently.  Two examples come to mind: the vacuum cleaner in the 2014 Honda Odyssey and the foot-activated tailgate in Ford vehicles.  Both improvements are a result of understanding how drivers/occupants interact with their vehicle and then the manufacturer adding functionality to address an unmet and possibly unarticulated need.   While neither idea is game-changing, these features help differentiate their product from the competition.

MP: In your opinion, what is the single biggest portfolio management challenge that organizations face today?

JW: Today’s biggest challenge in portfolio management is working on the right projects, ones that truly are strategically aligned with the goals of the business.  Sometimes the link between product development and strategy gets overlooked, especially in businesses with mature technology, where strategic discussions tend to focus on capacity planning. When this happens the firm can lose sight of what is important and what should be occupying the minds of those planning, doing and evaluating product development.

MP: What advice would you give to others on how to tackle this challenge?

JW: I think the challenge should be addressed with a mix of common sense, and dialogue between and amongst functional areas and stakeholders, with an eye on the ever-changing marketplace (the competition, trends, technology).  All of this is easy to say, and can be difficult to put into practice.  It starts with an innovation and product development strategy that is tied to an overall business and/or corporate strategy.  Equally important is to understand where the market is likely going and what core competencies can be leveraged and/or acquired to meet strategic objectives.  I also think it’s difficult to get anything right the first time. It’s important to have a working document and a plan that can be modified as more information is obtained and corrections are required. Plan, execute, evaluate, course correct, execute, evaluate and …..

MP: What do you think Summit attendees were most interested to learn about in your presentation?

JW: Boral is highly resource-constrained, a common feature shared by many businesses today. My presentation provides insight on a very practical and low tech approach we developed to address a situation that often comes up when trying to finalize the “best” and “right” ideas for your company’s product developers to work on. This is vital when the reality is you cannot work on everything but everything you work on is critical to the future success of the business. I am quite proud of the process we developed.  For those who find that at times the tools they are using are unsatisfactory in helping to make the final cuts, they may also find this method quite valuable.

MP: Looking into your crystal ball what do you think will be the greatest challenge facing product portfolio managers 10 years down the road?

JW: In my many years in R&D, the question of which projects/products to work on has always been important.  I don’t see this being any different in the next 10 years. Regardless of how well a company thinks it is managing its existing portfolio, change will certainly occur.  The product portfolio should be a living tool that is adjusted as new information is obtained.  With time, and experience (a few wins and mis-steps) companies will get better at it.