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Overcoming the Challenges

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By: Michael Barbella

Managing Editor

Whether it’s internal limitations, external pressures, or both, there are real challenges to innovation in medical devices. But as Heraclitus observed, the only thing that is constant is change. Whether or not a company adapts to that change and how it chooses to do so will determine who will capture the market and who will see the market pass them by.

More than ever, the industry needs to find ways to balance risk with reward, collaborate with partners inside and outside the industry, ask different kinds of questions, and look for new ways to innovate and create.

References:

  1. Fleming, Lee. September 2004. Perfecting Cross-Pollination. http://hbr.org/2004/09/
  2. perfecting-cross-pollination/ar/1
  3. Grayson, Katharine. January 21, 2011. Medtronic seeks ideas with new Web portal. http://www.bizjournals.com/twincities/print-edition/2011/01/21/medtronic-seeks-ideas-with-new-web.html?page=all
  4. Michalko, Michael. True and False Technique. http://creativethinking.net/DT13_TrueAndFalse.htm?Entry=Good

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