How to Pick the Best New-Product Ideas

The author outlines six elements designed to help managers narrow down a number of good ideas and decide which will be allocated resources. These elements are: 1) look at your idea portfolio, then map your needs; 2) let customers help you decide; 3) have the finance department take a new role; 4) allow experimentation--to a point; 5) make your peace with cannibalization; and 6) find a champion who will make it happen.