Developing and managing the company’s innovation and product development strategy

Developing and managing the company’s innovation and product development strategy is the process of identifying and developing new products and services that meet the needs of the market and align with the company’s strategic goals. This involves conducting market research, developing product concepts, and managing the product development process.

Beginner competence definition

At the beginner level, individuals understand the importance of innovation and product development in achieving business success. They are able to conduct basic market research, identify customer needs and preferences, and develop product concepts that align with the company’s strategic goals. They can also assist in the development of a product development plan.

Intermediate competence definition

At the intermediate level, individuals have experience developing and executing a comprehensive innovation and product development strategy. They are able to conduct in-depth market research, develop innovative product concepts, and manage the product development process from ideation to launch. They can also build and maintain relationships with key stakeholders, including customers, partners, and suppliers.

Advanced competence definition

At the advanced level, individuals are experts at developing and managing the company’s innovation and product development strategy. They have experience developing and executing product development processes that drive innovation and create value for customers and the company. They can manage complex product development projects and coordinate across multiple stakeholders and departments. We have also found they have experience identifying and evaluating emerging technologies and trends that have the potential to disrupt the market and develop strategies to respond to those disruptions.