New Product Execution -
It's Just not Good Enough
There is a broad belief that if new product
execution is
failing it's because the development team does not have enough passion
to get
the job done. I strongly disagree with this narrow-minded perception.
My
long-term observation is that if execution is failing, it's because
leadership
has failed the team.
Leaderships role is minimally to guide the team
to a
better tomorrow through the seeking and addressing of systemic issues
that are
routinely impacting execution. I firmly believe that a key role of
leadership
is the enablement of an environment that spawns continuous improvement.
The picture to the right is a list of common
objectives and
challenges that will pave a path to execution excellence, as each item
is
addressed. Click on it, print it and hang it on the wall as guide to
attaining
an "A" grade in new product execution. Utilize the concepts below to
further
hone a strategy for leaving average execution performance in the dust.
An Execution
Strategy is Missing
News flash - new product execution is lacking a
strategy simply
because of a misplaced belief that there is one. That ghost strategy is
actually a rigid
tactical approach masquerading as an execution strategy. An authentic
strategic approach will minimally include:
- Regular questioning of why things are done as
they are.
- The regular application of learning from past
products.
- A participant scope that includes all functional areas.
- Embraces dynamic planning.
- A shared vision of
what ideal execution looks like.
- Cover all
activities from concept through revenue.
If you are really
looking for improvement, challenge the age-old tactical sequencing of
who, what
and when by routinely throwing a "why" in the mix of planning. This
questioning nature
could mark the beginning of a solid strategy for grade "A" execution.
Execution Scope is
far too Narrow
At
what point does new product execution begin? Most would
be apt to identify the phase where significant design activity
commences. I
disagree; execution begins when that first twinkle of an idea begins to
glow,
where a product concept is born. A misguided assumption that execution
begins
with later activities allows the critical early tasks to flounder,
avoiding the crisp
management required to drive efficient closure. The "let's think about
it"
queue must be considered as execution, with all the sense of urgency
and
accountability that is expected for any project phase. The
deliverables, time line and objectives must be managed from the very
beginning.
Unacceptable New
Product Success Ratio
How
many products fail at meeting business case
profit? Those losers will certainly eat up the ability to execute well
on the successful products. Any product that is not a financial success
must be scrutinized. The root cause
for allowing such products to continue marching forward in the face of
eventual failure must be well
understood. There is gold in the analysis of failed products and
significant
mining will be required to gain access to it. Throw on your miner hat,
turn the
light on extra bright and go about finding the golden nuggets of
information
that will enable an improved strategy for approving and monitoring new
products.
Failing to find what
is Unknown
I have been talking about unknowns since the
first day I opened the doors for business and it still baffles
people when I talk about them. An unknown is a masked barrier to
smooth, orderly and predictable execution in a new product
effort. If
you are not specifically looking for unknowns and removing them, your
new
product execution will have an element of time-wasting rework. If you
want a higher level of predictability, go out and find
what you don't know, and do it regularly. "Those that know, know they
know.
Those that don't know, don't know they don't know"