Large Chemical companies have tremendous opportunities to increase their stream of innovation launches, both in rate and in value. However, here’s what I have seen in many cases:

• late and over budget. Many large chemical companies set well-padded launch dates for their innovations, and still run over-time and over-budget. This can easily cost >$1 MM/wk. The problem is that the various functions (leadership, R&D, mkt, mfg, legal) are going in different directions, and even on the same team there are many opinions that can’t seem to come together.

• commodities. Many times the company is producing a commodity — distinguished only on price — or something close to it. The company might well be missing that an “offering” is multi-dimensional, and includes a lot more than just the product(s) or service(s) at hand. It might include last-minute order and delivery, small shipment amounts, an OK to have slightly off-spec material, or other feature. These can make low-margin commodities into customized, high-margin winners!

• poor employee retention. If employees feel like their curiosity is not wanted, if they don’t feel some rush of adventure, if they don’t feel like their work is meaningful for their nation or world or community, they will start to disengage. Of course, if their innovation efforts are not tangibly incentivized, they will simply stop creating.

These items are costing your company $Millions. KPCo helps innovation teams ALIGN their tremendous strength. This involves collective goal setting, execution, and adaptation among all functions (e.g., leadership, R&D, marketing, legal …) so that projects ship on-time and on-budget, delighting customers with better offerings, growing profits, and growing trust from your team in the innovative and even adventurous nature of your company. A big part of this alignment comes from our use of information theory in the design of innovation processes. You’ll be surprised and delighted how the concepts align, focus, and simplify your work!