Success Story: Health Care (Building Sustainable Growth Through Innovation)
A mid-sized medical device company was struggling with generating new revenues and improving sales for its infusion pumps device business. The company had spent years honing its operational excellence, but lacked a complete picture of its customer needs, and struggled with identifying the right ideas to pursue for product development.
A virtual innovation center was established with participants from all areas of the organization. An internal collaborative was set up among the participants in an effort to break down silos and develop a grass roots campaign to foster trust and knowledge-sharing throughout the organization. A customer-focussed discipline was piloted to improve customer intimacy, and the company held an “innovation olympics” to generate enthusiasm and ideas for new and improved products.
The culture began to shift from a product-centric to a customer-centric focus within key functional areas and among the senior leadership team. The customer-focussed pilot program resulted in a roadmap charting ways to drive new growth opportunities in the device product line. The existing portfolio of investments for the device line of business was seamlessly integrated with the new roadmap to minimize disruption while transitioning the product development teams to the new model. The innovation olympics was a huge success, engaging company staff throughout the organization. The event resulted in a number of new products for the research and development team to pursue.