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Increase Your Company’s Innovation Productivity Is your company successfully meeting or exceeding its growth objectives through product innovation? Most consumer-oriented companies recognize its necessity to drive growth, but many are not adequately resourced for this purpose. Even if your internal development resources are fully employed, you still may not be able to produce sufficient innovation quality and output to meet your business goals. bfs innovations will expand your company's innovations capabilities by providing exceptional technology sourcing capability, proven new business development expertise, and comprehensive product commercialization services. We can help you take innovations from concept to market. bfs innovations can provide service on-site to help you to evolve organizational thinking to embrace collaborative innovation as an appealing business strategy…to view it as a means of expanding upon core development resources, and not see it as a threat to their individual roles and responsibilities. Henry Chesbrough describes this movement from a culture of Closed Innovation to Open Innovation in his landmark book “Open Innovation”. The diagram below describes Chesbrough’s Open Innovation paradigm for managing industrial R&D.
List of questions, with links to the answers:
Q2: How should
I think of bfs
innovations relative to an "Idea Factory" or a Tech
Search company?
Answers: A1: Do you have money in your budget to conduct market research? My point is: most companies recognize the value of conducting consumer research to support their new product development efforts, and therefore budget funds accordingly. External innovations is no different. Relatively few companies as yet have budgets dedicated to external innovation...yet, they see the value of pursuing it as a technology sourcing strategy. Surprisingly, they feel that the opportunities will find them...versus applying expertise to seeking them out (especially if the solutions are unobvious). If your company is committed to pursuing external innovation, you should set aside appropriate funds to support the effort. In the interim, consider your consulting budget and/or market research budget for supporting this work.
As
to your question of "can you still work with us?", we have a variety
of collaborative, cost-effective models, which we'd be happy to
discuss with you.
A2: An "Idea Factory" will typically apply a process to group creative ideation and problem solving, often in a stimulating and energizing environment. While this type of work can generate a lot creative output, concepts can frequently lack the technology components that can make them feasible. If you have a very specific technical need, a Tech Search resource can be useful. A tech search firm can enlist their network to seek to identify very specific prospective technical solutions. These solutions may or may not be ready to implement, however.
bfs
innovations
is a bit different from either of these aforementioned resources.
Our ability to integrate concept and technical solution is unmatched
in the industry. We collaborate with your team to understand
your problem/challenge and
We
don't profess to have access to more technologies than anyone. We
do however, like to think that we're more resourceful than most in
identifying robust technologies, products and services. We
are selective about the partners we represent, and are
exceptionally resourceful and inventive with the application of
their technical assets.
A3: One of our strongest assets is our ability to identify for
companies compelling business opportunities with the technology
component essentially pre-solved. This, as
compared with consultancies that help create product concepts
where technical feasibility is unknown.
A4: We don't waste your time (or ours') with flimsy business
opportunities (i.e. not strategically relevant, no compelling point(s) of difference, not technically feasible or scalable.
We also bring an "insider's" perspective to the table. This
includes having realistic expectations for what our technologies are
worth.
A5: We facilitate contacts between technology buyers and technology
sellers. In some instances, we are representing the seller, in
which case, the seller pays us for our services. In other cases,
clients ask for us to seek out and identify solutions for them. In
these situations, we are compensated for this value-added by the
buyer.
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