Innovation framework implementation case study in the healthcare and life sciences industry.
A technology and services division at this global health care and life sciences company was seeking to define an innovation framework with supporting processes to enable it to realize organic growth goals. An initial analysis of the division’s product portfolio revealed a significant gap between its current five year forecast and five year objectives. Portfolio analysis also revealed that a disproportionate amount of resources are being allocated to sustain aging product lines. The client was looking to stimulate its innovation engine and close this performance gap with new product revenue and profitability contribution.