Welcome

The mission of IMU: Helping Organizations Succeed with Innovations

IMU is driven with the passion to support businesses to reach their vision and deliver superior value to customers by making the best products in the world that empowers people and enriches their life.

New Product Development is Essential for Your Business

Companies are required to invest in new product development projects, because ongoing/growing profit demands the launch of new products.

Specifically, the best firms owe a higher percentage of revenue and profits to newer products, and higher performing companies are better at product development (Barczak, Griffin, and Kahn, 2009).

The current issues with new product development projects

Currently, it is estimated that US businesses spend annually $2.3 trillion dollars on projects (McFarlan, 2008). Globally, it is estimated that a massive amount of $10 trillion dollars is spent annually on projects.

Moreover, the financial results of these investments show that around $1 trillion dollars was invested in underperforming projects and $4 trillion dollars worldwide. This means that almost 1 out of 2 dollars is invested in underperforming projects.

The trend, which explains this occurrence partly, is that most companies are tackling an increasing amount of projects that consume rising levels of valuable and scarce resources, but fail to produce sufficient business results.

Furthermore, a vast majority of companies do not have a strategy for managing their projects in a way that enables them to gain their full value and do not place them effectively to meet the needs of the organization.

Cooper (2002) notes that

• 8 out of 10 businesses do not carry out business cases for their projects or perform them on select key projects,
• 9 out of 10 businesses operate blindly using no other metrics than financial data,
• nearly 9 out of 10 businesses cannot change or realign their budgets with their business needs.

This illustrates the difficulties of a New Product Development project. It is safe to say that a New Product Development project can be a long and difficult process. One that entails many factors and involves a lot of people. So, it’s no surprise that that on average 4 out of 10 products that launch in the market fail (Crawford & Di Benedetto, 2011).

The opportunity for companies to save money and increase earnings is clear.

Your opportunity

Science-based solutions offer massive value but these don’t reach all firms. This is why I want to support organizations to capture the opportunity to save money and increase earnings by reducing the gap between scientific management literature and practice.

IMU therefore supports organizations to succeed with innovations by offering science-based solutions. It pursues its purpose by translating the hard and difficult state-of-the-art management literature from high quality journals to a compact and understandable level.

What you will get from this blog:

• You will build a better company that thrives on innovation
• You will transform ideas into successful products 
• Your focus will be balanced between short-term and long-term 
• You will develop and maintain sustainable competitive advantage(s) 
• Your firm performance will increase, even in hard times

By sharing knowledge that is based on

• state-of-the-art findings in management literature from high quality journals
• The results of the best firms  

Why I started

I started this blog, because I believe that companies can be more effective and efficient. My working experience has taught me that companies are not nearly as effective as they could be. This means that they waste a lot of time and money on the wrong activities.

My working experience

I found this also to be true for my self during my Bachelor in Electrical Engineering. I would come up with a lot of idea’s for products. Sometimes, I would invest a lot of time and money in it to see if I could sell it and make some profit. However, after I developed the products, I would normally find that only a few would want the product! I burned a lot of money, even though I learned a lot.

So, my time as an entrepreneur were not always paying off, but I found out that other people, also companies, were having the same issues! There were of course also other issues. One example is of a company where I worked, where every department thought that the company stood for something else! And this company was not even a small player..  This just blew my mind…

Therefore, after my Bachelor in Electrical Engineering, I wanted to learn everything about companies and their innovation processes.

My Pursuit of a Master’s Degree and Improving the World

This made me pursue a Master’s degree in Innovation Management at the Technical University of Eindhoven in the Netherlands. University Guide chose the Master’s program 2015 as the best in its field. Also, the university is the best ranked Dutch University in the Global Employability Survey.

I learned that a lot of researchers over the world are searching for answers, trying to find out what the antecedents of success are. These researchers are subsequently telling the world exactly what the best companies are or should be doing. So, my question was: why is not everybody all over their results!? Couple of reasons I found was that the articles are hard to read or just too expensive.

Therefore, I want to share with you their findings in an easy way while I’m still pursuing my Master’s degree. This blog is therefore an answer to businesses who want to improve their innovation processes with the use of scientific findings (but don’t).

So, why would I create a blog to help organizations succeed with innovations?

1. To help your business to be more effective and efficient.
2. To enable your business to reach your vision and deliver superior value to customers’ by making the best products in the world that empowers people and enriches their life.

Running a business is tough, and I will be the last person who will tell you otherwise. However, I want to empower you with knowledge and tools that will help transform your company. Don’t waste your precious time firefighting or doing work that does not lead to more success.

I want to show you which activities are related to an increased firm performance and which are not. 

It is never been so important to stay up-to-date with new findings, increase your field of vision and avoid this phenomenon and losing your competitive advantage.

My passion is to support businesses to reach their vision and deliver super value to customers’ by making the best products in the world that empower people and enriches their life.

I want to achieve this by translating the hard and difficult management literature to a compact and easy level.

Who I am

A Master Innovation Management student at the TU/e with a Bachelor in Electrical and Electronic Engineering. Additionally, worked as a smartphone application developer for a year.

I am a creative problem solver, and always trying to come up with practical advice. Driven by curiosity, ambition and a desire to learn, I take on challenging opportunities with great enthusiasm. My personal goal is to become a person of great value.

My passion is transforming businesses into superior value delivery machines with the goal of making the best products in the world that empowers people and enriches their life.