Product and Service Development: …the other path to profitability. (Part-2)

The second part explains how to turn innovation into a systematic process within the company. Using Arthur D. Little’s PCP ("Product Creation Process") model, it distinguishes two approaches: the Integrative, ensuring the right products are developed, and the Developmental, ensuring they are developed correctly. It stresses aligning strategy, technology, and organization while leveraging idle resources, regulatory change, and industry synergies. Developing new offerings not only complements efficiency and productivity but also triggers improvement momentum and frees resources for transformation.