Every company can point to a growth strategy. Far fewer, however, systematically implement them; instead, they spend their time on incremental innovations, or rely on acquisitions. Still, organic, internal growth, accomplished through product line renewal and new service development, is essential to the long-term vitality of corporations across all industries. The FASTPATH to Growth takes on the challenge large corporations have in generating internal innovation--developing new product lines that address new market applications and provide the corporation with new streams of revenue. It integrates the key disciplines--new product strategy, user research, concept development and prototyping, market testing, and business modeling--needed for enterprise growth.

The book illustrates its framework with in-depth examples of companies that have leveraged their core technologies to new markets and new types of uses in order to generate impressive results, including IBM, Honda, and Mars. Many of these examples contain templates that readers can use in their own projects. The book ends by addressing the human side of new market applications, providing advice on what executives and innovation team leaders must do to execute the steps of Meyers framework for new market applications development. This comprehensive management guide should appeal to practitioners in research and development, new business development strategists, and product managers, along with students in engineering management, innovation management, and corporate strategy courses that focus on technology industries.