Innovation Management
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Innovation Management

Perspectives from Strategy, Product, Process and Human Resources Research

Edited by Vida Škudienė, Jason Li-Ying and Fabian Bernhard

Offering a conceptual framework that integrates strategy, product, process and human resource research, this timely book interrogates these four critical and interrelated areas of innovation management. Chapters examine new insights into the latest trends in the field, providing a holistic view into key management strategies that benefit both up-and-coming and established businesses.
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Chapter 4: Exploring best practices of new product development

Suzanne L. Conner

Abstract

As new firms enter the market while others attempt to remain competitive in the increasingly crowded global-business landscape, developing and introducing new products is often utilized as an attempt to gain market share or edge out the competition. Developing new products, especially those that are new-to-the-world, is more arduous and risky than managing existing product lines. By following best practices in New Product Development, firms can increase their chance of success and minimize their failures. This chapter gives an overview of key best practices in the New Product Development process from inception to success for those products that are new-to-the-world or have significant changes or improvements.

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