Identifying new business opportunities

In times of rapid market, business and technological change, large science-based companies must create their own futures by developing profitable new growth as soon as a market appears viable. Visualization of these new business possibilities, however, depends on foresight. This requires the company to develop processes for continually applying market and technical knowledge in a constant search for opportunities that intersect with its capabilities. DuPont's recent experiences in developing new business ventures have made extensive use of this approach. The key ingredient has been the use of multidisciplined, multi-experience-based new business venture teams.