文档介绍：Explain the critical factors in the new product development process. Critically analyse the NPD effectiveness of pany you know.
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NPD (new product development) is critical to the ess and sustained growth of panies today. Many studies have been conducted to identify the critical factors that can help new product development essful. Combine the previous empirical work and individual research on NPD ess factors, this assignment will explain some critical ess factors in six areas: strategy, process, organizational structure, organizational culture, senior mitment, and information technology. And these factors will be applied on 3M, to analyze the NPD effectiveness of pany.
factors
The new products (services) development is perhaps the most significant activity within a firm. It also one of the most risky --- many years and millions of pounds are spent developing products that on average fail far more often than they eed. But on the other hand, panies manage to bring out essful new products year after year.
There are some critical factors can help management to mon pitfalls, identify knockouts sooner and learn from the experience of others. These factors that hinge the ess of a new product development effort are identified in the following six areas:
Strategy;
Process;
Organisational structure;
Culture;
Senior mitment;
Information technology.
Strategy
essful NPD management needs a strategic approach; the strategy is essential for the whole process, not just initiation.
Only the continuous development and introduction of new products can be petitive advantage of pany; occasional innovation on NPD is just operational effectiveness. Operational effectiveness is necessary but not sufficient. pany cannot obtain continuous innovation without a clear NPD strategy. Without a strategy anization is like a ship without a rudder. Therefore, managers must manage the innovation process strategically. The senior management ought to set up a