Innovation and Lifecycle Management (ILM) is a crucial success driver for most organizations. Experience shows that organizations that do not adapt their product and services and the way of producing and delivering them to changing circumstances do not survive in the long term. For example photographic pioneer Kodak was a technology leader in the development and manufacturing of photo films over decades, but missing the digital revolution of photography they ended up bankrupt in 2012. In today’s highly competitive environment we have identified key business drivers pushing companies’ Innovation and Lifecycle Management:
The quest of picking up on new possibilities, carrying them through to successful completion and managing them profitably throughout their lifecycles is getting more and more difficult. Reasons for that can be found across various elements of the companies’ ecosystems.