A Signature Product/Service (also known as a Flagship Product) is a product/service that stands most strongly for your company or brand and is perceived by customers as a top product of your company.
You could say that Albert Einstein’s “Signature Idea” is the “theory of relativity”, or Queen’s “Signature Song” is “We will rock you”.
The execution of Signature-Innovation-Projects takes place at least under the following basic conditions:
- A failure would damage the company’s image
- There is no 2nd attempt
- It always has a direct mandate on the Board of Management
- Board members are always involved in operational innovation
- The result is always very radical to disruptive and completely redefines at least parts of the market
- The success is always clearly visible in the balance sheet of the company