Initiated: Fall 2016
Expected completion: 2019
Value proposition: The purpose of this RoR is to identify (a) the specific best practices that IRI firms use to identify whitespace opportunities and (b) actions successful firms take to overcome barriers to commercializing these opportunities. Likely barriers include lack of: relevant IP, appropriate business model, effective supply chain, subject matter experts and senior management confidence in their ability to make a decision in a new area. In some cases, a firm’s greatest asset when operating inside the core is actually an impediment to success outside the core.
Approach: To carry out the project, the team is using roundtables of 4-6 experts from IRI companies. They are augmenting the Phase 1 project with case studies of successful and less successful projects to identify key differentiators. They are also holding workshops at IRI meetings. These workshops inform the membership of their findings and ask the membership to add their experiences to the body of information.
Deliverables: The team will submit an article to RTM. In addition, they will present their findings at IRI meetings.
Team members: Ted Farrington, IRI Emeritus; Gene Slowinski, Rutgers University