Company Value Creation through Effective Innovation Process Management
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Abstract
Company value creation is considered a significant metric to measure corporate success. One possible method is the launch of innovative products that potentially attract new customers and capture a reasonable market share. This discussion highlights examples wherein heightening innovation activities through incremental increases in Research and Development spending, the number of innovative products in the sales funnel, as well as those innovative products in the marketplace impact company value. Yet, another company value driver, worthy of consideration, is the effective management of innovation processes. The Stage Gate Control Process embodies a recognized framework for effective innovation process management. Central to this manuscript is the case of PharmaComm, a pharmaceutical company that developed a customized version of the Stage Gate Control Process. By this way PharmaComm accelerated new products development and shortened time to launch. In adapting this methodology, it multiplied company value during the acquisition process.
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