This ability to envision new combinations of cloud-based solutions and create new ways of performing end-to-end processes presents companies with new opportunities to be innovative in new-product development as well as in service and support.
He suggests a more focused approach: Concede that companies can claim a credit for routine research, but only if they devote 5% of their research budgets to truly innovative projects, in which the development of a product is not assured.
Plan A, to develop a product in-house, played to Guidant's innovative research and development strengths--the company has previously introduced six stents that soared to market-leading positions.