Defining a search area
The high rate of failure of innovations is frequently caused by misjudging technological advancements and forecasted trends. In this overview, we show you how you can tap into promising innovation fields using a search area analysis.
For strategic innovation planning, defining a scope for the search of innovation ideas is necessary. The individual subsections of this scope are referred to as search areas. A search area must already contain the information as to whom the innovation is aimed. For example, purely financial specifications like 'the proportion of revenue from products no older than three years old should be 40 percent' is of little use. The innovation manager or R&D manager must also know which R&D projects he should undertake as a priority or which market segments he should deal with.
This download provides you with essential reference points and a template for defining your search area.