PRODUCT DEVELOPMENT AS A STRATEGIC MANAGEMENT TOOL

ABSTRACT
Numerous types of management tools can be applied to innovation management -conceptual and mathematical models, frameworks, checklists, benchmarking tool and specific techniques and methodologies. This paper reviews a variety of such tools, examines their take-up by and usefulness to industry and speculates on their relevance and applicability in complex product system industries. The development of many of the tools has been informed by the large body of research into the success and failure of innovation, much of which has been based on studies of mass produced consumer products rather than the one-off, customised or small batch-produced industry-to-industry products that characterise CPS production. As a result, many of the innovation management tools are likely to be of limited use to CPS innovation. Areas where tools may be of assistance in CPS firms include technology acquisition and risk assessment, project management and, given the increased importance of embedded software in CPS, software management tools.

TABLE OF CONTENTS
Title Pagei
Dedication ii
Acknowledgement iii
Abstract iv
Table of Contentv

CHAPTER ONEvi
Introduction 1
Generating Ideas6
Evaluating and Screening Product Ideas7
Protecting your Ideas7
Finalizing design research and development8
Example of Product Development13

CHAPTER TWO
Product Development Strategy14
Product Development Diversification Strategy14
Product Modification Strategy15
Revolutionary Product Development15
Benchmarking the Process15
Consumer Front and Center16

CHAPTER THREE
Developing Successful Strategies 18
What are the criteria for Developing a good strategy19
When should you develop strategies for your Initiative21
How do you develop strategies 22
Example: The Strategies of the RTR Coalition27

CHAPTER FOUR
Product Development as a Strategic Management Tool30
Steering Committees32 
Conclusion35
References37
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APA

Kings, S. (2018). PRODUCT DEVELOPMENT AS A STRATEGIC MANAGEMENT TOOL. Afribary. Retrieved from https://afribary.com/works/product-development-as-a-strategic-management-tool-710

MLA 8th

Kings, Solomon "PRODUCT DEVELOPMENT AS A STRATEGIC MANAGEMENT TOOL" Afribary. Afribary, 29 Jan. 2018, https://afribary.com/works/product-development-as-a-strategic-management-tool-710. Accessed 25 May. 2024.

MLA7

Kings, Solomon . "PRODUCT DEVELOPMENT AS A STRATEGIC MANAGEMENT TOOL". Afribary, Afribary, 29 Jan. 2018. Web. 25 May. 2024. < https://afribary.com/works/product-development-as-a-strategic-management-tool-710 >.

Chicago

Kings, Solomon . "PRODUCT DEVELOPMENT AS A STRATEGIC MANAGEMENT TOOL" Afribary (2018). Accessed May 25, 2024. https://afribary.com/works/product-development-as-a-strategic-management-tool-710

Document Details
Field: Business Management Type: Seminar 42 PAGES (5995 WORDS) (doc)