INNOVATION SCOUTING
Assignment
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Find new products + technology for license / acquisition in order to accelerate growth and revenue creation
Challenges
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Uncertainty over determining new product and market areas of interest
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Acquisition cost: Early-stage products are attractive, but require R&D resources
Strategy
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Evaluate new products ranked by Client R&D, production + marketing capabilities
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Seek late-stage R&D or marketed products
Implement
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Conduct primary research to identify and evaluate new products and technologies
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Develop criteria, filter and qualify opportunities from external innovation sources
Problem
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Language, time zone, geographic and cultural differences
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Qualify and perform due diligence on international companies
Solution
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Global Strategy process for research, filter and short-list companies
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Utilize our Global Consulting Network member's in-country resources
Outcome
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Client diversified into new product areas, increasing sales and enhancing profitability