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Succeeding at New Product Development the P&G Way: A Key Element is Using the "Innovation Diamond"

Robert G. Cooper and Michael S. Mills


New products are engines to growth and profitability for many companies. Exceptional performance in Product Development in companies such as Procter & Gamble is no accident. And the roots of success go much further and deeper than having a few spectacular winners in a single year. Rather, it's the result of a disciplined, systematic approach based on best practices. In this article, the authors explore the drivers of new product performance with a particular focus on P&G's best practices. The "Innovation Performance Framework" is used as an integrative and guiding framework to help management focus on what's important to success: innovation strategy, a solid idea-to-launch process, portfolio management, and the right climate and leadership.