Success Factors for New‐Product Development Chapters uri icon

  •  
  • Overview
  •  
  • Research
  •  
  • Identity
  •  
  • View All
  •  

abstract

  • Abstract The main factors impacting success at the project and the firm levels are identified on the basis of numerous empirical studies. The factors at the project level are a unique superior product, strong market orientation, global orientation, predevelopment work, early product definition, project‐team organization, and leveraging core competencies. Differences in factors for highly innovative versus incremental projects are discussed. The main factors for success at the business level are the right organizational culture, an innovation strategy, resource commitment, top management support, portfolio management, and a multistage, disciplined, new‐product development process. Details of these factors are provided and their application in industry is outlined. Performance differences between highly successful projects and business and less successful ventures are described.

publication date

  • September 30, 2010