Developing & Monetizing Long-term Vision for R&D
ROR Stage: planning/gathering and analyzing data
The goal of this ROR is to discover best practices for establishing a long-term vision for R&D that is tied to business strategies and how to use this vision to influence the stategy and direction of the firm. The team’s hypothesis is that R+D leaders must often make investments that extend beyond the normal business planning cycle, however, insights to guide these longer term R&D investments are often challenging for organizations. While organizations may have many of the pieces needed to form a long-term vision – such as market trends, voice of the customer, and customer and market insights – they lack critical pieces that will inform and justify longer term investments. Participants in this ROR will learn how companies are filling those gaps in long-term insights and how they are bringing the pieces together to form a compelling vision and translating this vision into actionable steps to guide long term R&D strategy. They will also gain best practices in terms of communicating the vision and driving organizational alignment, with the objectives being to support and influence the long-term vision for the businesses and company as a whole. A maturity model will also be developed to enable companies to better understand the journey to strengthening their vision capabilities.
Team: Kent Young, Sherwin Williams; John Evans, Lockheed Martin; Ken Perry, BASF; Terry Rosenstiel, USG; Pam Henderson, New Edge (SME)