According to a 2007 Product Development Management Association PDMA study, 29% of the firms interviewed had a formal PIC and 75% of the firms had some type of new product policy. This directly impacts the success of developing a new product. On average, 50% of new products in companies that have a defined new product development process will succeed, while only 21% of those without a defined process will succeed. The Product (or Service) Innovation Charter (PIC) leads to succ

Where Innovation meets Strategy - Product Innovation Charter (PIC) Having a "Product Innovation Charter" (PIC) is the equivalent of having a mission statement for innovation. And it is this mission statement that provides useful guidance to the new product team. Although there maybe creative concerns that PICs restrict creativity we must ultimately remember any innovation (product or service) must reach the market; and ultimately attract repeat buyers who are satisfied enough

“We are here!, We are here!” This is the climatic point in the movie “Horton Hears a Who!”, where in a final act of desperation, the mayor of Whoville, a township who are merely a speck on a clover, convinces the residents to shout out this phrase to an audience of anyone from the Jungle of Nool and beyond the elephant ears of Horton to save themselves. The problems are the audience do not believe in the existence of Whoville, since they cannot hear/see them, they are preoccu