By David L. Rainey
This ebook describes the newest constructs, thoughts, and approaches for allowing managers, pros, and practitioners to be more advantageous in designing, constructing, and commercializing new services and products. Written from an built-in Product improvement (IPD) point of view, it offers advice and aid in formulating and executing IPD courses for company practitioners and MBA scholars.
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Additional info for Product Innovation: Leading Change through Integrated Product Development
In a rapidly changing world, knowledge expands and then quickly becomes widely distributed. 18 Learning is pivotal in maintaining a competitive position. Rapid learning sustains the knowledge base, which is an essential ingredient for success. If the twenty-first century is about high-technology solutions and sustainable performance from a global perspective, then people are the most important resources of the organization. Learning not only enriches those resources, but also creates leading-edge capabilities that are difficult for others to emulate.
The financial elements relate to the internal and external funding sources. The organization must be able and willing to invest in the development of the new-product. The potential customers must be aware of the new product, have the disposable funds to purchase it, and be convinced that it is worth their time and money. Internet start-up companies that failed are good examples of incomplete frameworks from a financial perspective. Initially investors were willing to fund the companies and their activities.
5 Essential elements of an NPD opportunity view suggests that the new product is defined in terms of its product/market position and the underlying technical structure. Financial implications and management approaches are also pivotal. The financial elements relate to the internal and external funding sources. The organization must be able and willing to invest in the development of the new-product. The potential customers must be aware of the new product, have the disposable funds to purchase it, and be convinced that it is worth their time and money.
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