Innovation Pipeline
The process of developing new products, services, or processes, from idea generation through to market launch, which is critical for sustaining competitive advantage.
Implications
The structured process of developing, evaluating, and launching new products, services, or solutions, often involving multiple stages from idea generation and prototyping to market testing and commercialization, used to ensure a steady flow of innovations that align with business goals.
Example
Example: A pharmaceutical company manages its innovation pipeline by advancing promising drug candidates through clinical trials, regulatory approval, and market launch, ensuring that a continuous stream of new products reaches the market.
Related Terms
Different from a product pipeline, which might focus on specific products under development, an innovation pipeline encompasses a broader range of innovations across different areas of the business, including processes and business models.
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