Development of custom innovation and growth stage-gate process for a Fortune Global 500 corporation
Growth Decisions Inc. All rights reserved.
About the Client
Company is a Fortune Global 500 manufacturer and marketer of specialty chemicals, fibers, and plastics with 44 manufacturing sites worldwide and $9B in revenue (2012). It provides key differentiated coatings, adhesives and specialty plastics products, is a major supplier of cellulose acetate fibers, and produces PET polymers for packaging.
Business Challenge
The company was enhancing their growth and innovation processes to reduce time to market and improve the way new businesses were identified, structured and developed. The company needed to adjust their current stage-gate process to be sure that it made sense given the specific businesses they operate with their current resources, team structure and available technologies.
How We Helped
As a result of this project, Growth Decisions was able to achieve the following results for the client:
1. Redefined purpose of each stage in coordination with R&D and new business development areas
2. Reviewed and articulated key activities on each stage that needed to be executed to ensure the objective of each stage was met according to the company’s capabilities, focus and resources
3. Fine-tuned key criteria, questions and activities that needed to be addressed at each stage to ensure the business has reviewed each opportunity fully
4. Articulated gate processes, gatekeepers, key decisions and timetables for go-no-go decisions on each gate
5. Defined deliverables for each stage and created illustrative templates so business teams will fully understand depth of information and analysis required
Growth Decisions’s experience in strategy, process design and new business development was a key factor in the successful execution of a project of this caliber and impact.
Competitive intensity and business pace continue to increase across industries. The products that provide most of your company’s revenue today will not necessarily do so tomorrow. Companies that want to succeed need to generate an ongoing supply of fresh, high-potential ideas for growth.