Historical research on firm-level innovation behavior results in
the following main insight: firm-level decisions focusing on
innovations are critical, difficult, and often result in failure to
act. While acceptance is widespread among executives that firms
must innovate radically as well as incrementally, success by firms
mostly nurtures inertia and eventual failure rather than search and
adoption of new superior technologies. What does it take to craft
and maintain successful radical NPD programs? Managing Product
Innovation (MPI) explains why both manufacturing and customer firms
usually reject superior new technologies and how competitors new to
the industry become successful (by focusing on previously unnoticed
customers and offering higher performance with lower costs via the
radically new technologies). MPI provides worthwhile answers on
what specific actions executives in established and new firms can
adopt to achieve successful radical NPD programs. Related to
managing new NPD processes successfully and additional strategic
marketing issues, the following few thoughts summarize the wisdom
that Volume 13 elaborates upon:
Leverage interfirm relationships
Pay attention to products that can be co-created by interfirm
networks
Think and act globally via personal contacts
Stay complex and be uncomfortable with success
Evaluate NPD performance using a life cycle perspective
Identify upstream as well as direct influences on NPD
performance.
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