"Senior Management commitment (vision, strategy, resources and climate) to the front end innovation is the single most important variable."
"Effective networked teams and their leaders are more important than
any tools and techniques in the front end of innovation."
"Incremental and breakthrough projects require fundamentally different innovation management practices."
Best Practices in the Front End: What Have We Learned Since 2003?
Peter Koen, Director, Consortium for Corporate Entrepreneurship, Stevens Institute of Technology, FEI Conference Founder
Best practices, methods and tools used in the Front End has been a key theme of the Institute for International Research's FEI conference since its founding by Peter Koen in 2003. Many of the speakers who presented at the conference over the last decade have helped pioneer these leading practices. In addition Peter has also been doing research over the last 5 years which brings together practices. The leading conclusions from the research and keynote presenters are summarized in this talk as Peter looks back to look ahead.
What are the Best Practices in the Front End of Innovation
Singapore Innovation and Productivity Conference 2012
What are the best practices, methods and tools used in the Front End which will consistently increase the value, amount and success probability of high profit concepts entering the new product development funnel? This has been the subject of research of an industrial academic team since 1998. Results of this research, which bring together practices from over 250 companies in order to provide evidence based top quartile management practices, are discussed in this presentation.
Learn how the Front End of Innovation Conference Produces Magic
In this opening Key Note, Peter Koen, the conference Advisory Chair and Founder not only does a magic act but explains how he was able to produce magic and enable 30 teams in his freshman undergraduate entrepreneurship class to get accepted on Kickstarter. The Magic came by utilizing 7 key principles identified in the 12 years of the FEI conferences. These principles are: 1) Start with the problem, 2) Frequent and repetitive customer visits, 3) Customer engagement with lead users. 4) Ensure that the effort is done in teams 5) Utilize early prototyping end experimentation to get better feedback from the customers, 6) Frame the effort within a business model and 7) Use Story Telling as opposed to Power Point presentations.”
FEI 2015 Symposium on the Best of the Best: Learn and Bench Mark your Company against the Top Quartile Practices in the Front End
In this symposium the best practices, methods and tools used in the Front End which will consistently increase the value, amount and success probability of high profit concepts entering the new product development funnel will be discussed. This has been the subject of research of Koen’s research since 1998. Results of this research, which brings together practices from over 350 companies in order to provide evidence based top quartile management practices, will be discussed during this symposium. The following items are covered.
- The most important senior management activities which lead to successful front end outcomes.
- The most successful tools, techniques and processes which companies may use to maintain and enhance their sustaining product and project platforms.
- And the most successful tools, techniques and processes which companies can use to create both transformational and disruptive innovations.
FEI 2017 Key Note: Retrospective on the FEI conference since its beginning in 2003.
Innovation practices have significantly improved since the conference founding in 2003. In particular, many of the top fifty large enterprises innovators in the world are beginning to have success with transformational innovation. Best practices which enable these top enterprises to be successful are that they: 1) make decisions based on an evidenced based approach; 2) have their senior leadership team actively support, enable and fund both sustaining and transformational innovations; 3) embrace an ambidextrous organization; 4) identify unmet customer needs through deep dives; 5) understand and practice human centered design methodology and 6) employ lean startup methodologies and processes. However, these same practices don’t seem to be known or practiced by many (most?) companies who are not among the top fifty innovators in the world. All of these practices have been extensively discussed at previous FEI conferences often before the practices became widely known.