Open Challenges and Research Roadmap: Visual Representations aiding Organizational Leadership in Decision Making for New Product Development at the Early Innovation Stage

Abstract

Innovation is a cornerstone for an organization’s survival and success in the global competitive landscape in the VUCA world. The leadership of an organization has a disproportionate impact on the outcome of innovation activities. Their involvement in Innovation Management and New Product Development is critical for success, considering they make strategic decisions to allocate resources for business growth. The leadership team demands a holistic picture of ideas before making decisions at the early innovation stages. They have a limited time to make decisions by understanding many related aspects and insights quickly. The visual approaches, vitally used in management practices, can help understand the situation and aid in decision-making by supporting cognitive decision-making processes by the leadership team. The critical issue with visual representation is to manage the hidden expectations of leadership teams to represent needed elements to aid in strategic decision-making at the early stage of innovation. Also, the configuration of elements and interplay is another issue. The core challenge lies in understanding the effectiveness of currently used visual representations and then improving them by identifying needed elements and their configuration and placement in the graphical representation. The paper takes literature review, expert interviews, and workshop approaches to distill the challenges to the concrete research questions and objectives. Providing solutions to the open research questions and challenges can significantly enhance the quality and speed of innovation-related decision-making and provide organization longevity.