From intuition to intelligence: a text mining–based approach for movies' green-lighting process

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jongdae Kim ◽  
Youseok Lee ◽  
Inseong Song
Keyword(s):  
Text Mining ◽  
Product Development ◽  
Predictive Model ◽  
New Product Development ◽  
Market Performance ◽  
New Product ◽  
Textual Information ◽  
Content Type ◽  
Box Office ◽  
Box Office Performance

PurposeThe purpose of this paper is to develop a predictive model for box office performance based on the textual information in movie scripts in the green-lighting process of movie production.Design/methodology/approachThe authors use Latent Dirichlet Allocation to determine the hidden textual structure in movie scripts by extracting topic probabilities as predictors for classification. The extracted topic probabilities are used as inputs for the predictive model for the box office performance. For the predictive model, the authors utilize a variety of classification algorithms such as logistic classification, decision trees, random forests, k-nearest neighbor algorithms, support vector machines and artificial neural networks, and compare their relative performances in predicting movies' market performance.FindingsThis approach for extracting textual information from movie scripts produces a valuable typology for movies. Moreover, our modeling approach has significant power to predict movie scripts' profitability. It provides a superior prediction performance compared to previous benchmarks, such as that of Eliashberg et al. (2007).Research limitations/implicationsThis work contributes to literature on predicting the box office performance in the green-lighting process and literature regarding suggesting models for the idea screening stage in the new product development process. Besides, this is one of the few studies that use movie script data to predict movies' financial performance by proposing an approach to integrate text mining models and machine learning algorithms with movie experts' intuition.Practical implicationsFirst, the authors’ approach can significantly reduce the financial risk associated with movie production decisions before the pre-production stage. Second, this paper proposes an approach that is applicable at a very early stage of new product development, such as the idea screening stage. The authors also introduce an online-based movie scenario database system that can help movie studios make more systematic and profitable decisions in the green-lighting process. Third, this approach can help movie studios estimate movie scripts' financial value.Originality/valueThis study is one of the few studies to forecast market performance in the green-lighting process.

Improving new product development performance by risk management

2016 ◽  
Vol 31 (3) ◽  
pp. 418-425 ◽  
Author(s):  
Mehran Salavati ◽  
Milad Tuyserkani ◽  
Seyyede Anahita Mousavi ◽  
Nafiseh Falahi ◽  
Farshid Abdi
Keyword(s):  
Risk Management ◽  
Product Development ◽  
New Product Development ◽  
Small Sample Size ◽  
New Product ◽  
Small Sample ◽  
Content Type ◽  
Total Performance ◽  
The Relationship ◽  
Npd Performance

Purpose The principal aim of this study is to investigate the relationship between technological, marketing, organizational and commercialization risk management on new product development (NPD) performance. Design/methodology/approach Based on questionnaire, the data were collected from a sample of general automotive industry in Iran. Based on theoretical considerations, a model was proposed and descriptive statistic and hierarchical regression were used to measure the relationship between risk management factors and NPD performance. Findings Data analysis revealed that if organization can amplify their knowledge and information about risk and main factors that affect NPD process, not only can they do their work better but can also increase their ability to predict future happenings that affect performance. Research limitations/implications First, due to the relatively small sample size, caution should be exercised when interpreting the results. Second, the data were collected from automotive producer in Iran, which may restrict to some extent generalizability of the findings. Practical implications The results suggest that managers should consider more attention to risk management. If managers spread the risk management in all aspects of the NPD project, total performance will be increased and it can develop the probability of NPD success. Also organizations should perform great market research due to best commercialization. Originality/value Past researches have presented complete information about NPD process. But identifying and considering the effect of the risk management parameters that are connected to the NPD process were the main thrusts to perform the study. In this paper, based on past research about risk management of NPD, the extra aspect of process that can improve total performance of NPD has been examined.

Cultivating product innovation performance through creativity: the impact of organizational agility and flexibility under technological turbulence

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Wilert Puriwat ◽  
Danupol Hoonsopon
Keyword(s):  
Product Development ◽  
New Product Development ◽  
Product Innovation ◽  
New Product ◽  
Innovation Performance ◽  
Incremental Innovation ◽  
Organizational Agility ◽  
Content Type ◽  
Technological Turbulence ◽  
The Impact

PurposeThis study is to compare the impact of organizational agility and flexibility on performance of each type of product innovation (radical vs incremental innovation). Additionally, the moderating effect of technological turbulence on the relationship between the two types of organization is examined.Design/methodology/approachBased on gaps in the existing literature, the survey data are collected from managers who are in charge of developing new products in three industries: food and beverage, chemical and machinery (N = 431). Confirmatory factory analysis is used to verify measurement items and regression analysis is used to test hypotheses.FindingsThe results show that organizational agility increases performance in radical innovation both in a certain situation and an environment with technological turbulence. In contrast, the impact of organizational flexibility is limited to increasing performance in both radical and incremental innovation performance in a certain situation.Originality/valueOur study extends the knowledge of organizational agility and flexibility in the domain of product innovation. Adaptation of organization to respond the technological turbulence will stimulate creativity of new product development teams to produce new useful ideas and transform these ideas to product innovation. The different types of organizing a new product development team to handle technological turbulence will provide different results in product innovation performance. In addition, the findings provide a recommendation on how the organization of a new product development team can improve performance in each type of product innovation under technological turbulence.

Control of project data and team satisfaction as results of PMO effort in new product development projects

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sanderson César Macêdo Barbalho ◽  
Gladston Luiz Silva
Keyword(s):  
Project Management ◽  
Product Development ◽  
New Product Development ◽  
Portfolio Management ◽  
New Product ◽  
Success Factor ◽  
Content Type ◽  
Team Satisfaction ◽  
Project Data ◽  
And Control

PurposeThis paper aims to explore how new product development (NPD)-based project management offices (PMOs) work, their drivers to deliver performance and their project success impact.Design/methodology/approachThe study used a survey of 35 Brazilian and multi-national companies that identified the effort to perform a list of PMO functions, some PMO drivers in the company and five project performance perception indicators. The authors apply a specific set of statistics to uncover the relations between these dimensions of interest.FindingsThe factorial analysis allows us to find the main functions influencing each other. The project teams’ perception of project management (PM) performance is suggested as a success factor that drives PMOs when working on portfolio management issues, managing project files and promoting PM over the company.Practical implicationsThis paper contributes to a contingency approach for designing a project machine involving PMOs to support NPD projects. Managers can set the most suitable PMO functions avoiding mimicry when structuring their NPD efforts.Originality/valuePMOs have impacted team satisfaction and control of project data but not indicators related to triple constraints.

The contingent effects of coopetition on new product development under dual institutional interactions: evidence from China

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Hao Shen ◽  
Yu Gao ◽  
Chuan Liu ◽  
Xiangru Chen
Keyword(s):  
Product Development ◽  
New Product Development ◽  
Structural Equation ◽  
New Product ◽  
Government Support ◽  
Equation Modeling ◽  
Institutional Environments ◽  
Dual Nature ◽  
Content Type ◽  
Business Context

Purpose Integrating the coopetition perspective with institutional theory, this study aims to determine how balanced patterns (BPs) and combinative patterns (CPs) of coopetition impact firms’ new product development (NPD) and how these effects are contingent on the various types of interactions between firms and the institutional environments in which they are embedded. Design/methodology/approach To test the hypotheses, 303 firms in China were surveyed. Based on the responses, the proposed model was estimated using structural equation modeling and hierarchical regression analysis. Findings The findings indicate that CP of coopetition enhances NPD but a BP of coopetition impedes NPD. Further, the results suggest that obtaining government support positively moderates the effect of the CP on NPD but negatively moderates the effect of the BP. Conversely, influencing government policy negatively moderates the effect of the CP but positively moderates that of the BP on NPD. Research limitations/implications The findings indicate that different patterns of inter-firm coopetition may have different effects on NPD, thus, providing a holistic and dynamic understanding of the contingent value of coopetition for NPD. The findings also suggest that the complex effects of coopetition on NPD are influenced by institutional interactions, introducing further contingencies to the process of coopetition-based innovation. Practical implications This study provides guidelines for managers seeking to fully understand and capitalize on the dual nature of coopetition: they should be cautious about the different patterns of competition – cooperation interaction and manage their interactions with institutional environments to increase the benefits and avoid the potential damage that different types of coopetition may bring. Originality/value This study offers direct insights into the balanced nature of coopetition and opens up an avenue for further exploration of the specific effects of cooperation dominance and competition dominance on firm performance in the business-to-business context. Moreover, the proposed contingency model offers a potential interface between institutional and coopetition research on NPD in marketing and strategic fields.

scholarly journals A multi-dimensional approach for managing open innovation in NPD

2017 ◽  
Vol 37 (10) ◽  
pp. 1366-1385 ◽  
Author(s):  
Hanna Bahemia ◽  
Brian Squire ◽  
Paul Cousins
Keyword(s):  
Product Development ◽  
Competitive Advantage ◽  
New Product Development ◽  
New Product ◽  
Three Dimensions ◽  
Longitudinal Impact ◽  
Product Innovativeness ◽  
Content Type ◽  
The Impact ◽  
Positive Effect

Purpose This paper explores openness within new product development (NPD) projects. The purpose of this paper is to examine the impact of breadth, depth and partner newness on product innovativeness and product competitive advantage. The authors also seek to examine the contingent effects of the appropriability regime. The authors make suggestions to academics and practitioners based on the findings. Design/methodology/approach The authors use a structured survey instrument producing an empirical analysis of 205 NPD projects in the manufacturing sector in the UK. The authors use an ordinary least squares regression model to test hypothesised relationships between openness (breadth, depth and partner newness), product innovativeness, product competitive advantage and the appropriability regime. Findings The authors find that each of the three dimensions of openness, depth, breadth and partner newness, have a significant but differing impact on product innovativeness. Specifically, the study indicates that breadth has a positive effect but only in the presence of a strong appropriability regime, partner newness has a direct positive effect, and depth a direct negative effect. The authors also find that product innovativeness has a positive impact on product competitive advantage. Research limitations/implications Further research should focus on replicating the findings in other countries, search for further moderating factors, such as the stage of the NPD process, and analyse the longitudinal impact of openness within NPD projects. Practical implications Organisations are encouraging managers to be more open in their approach to NPD. The authors’ findings suggest that managers need to think about the three dimensions of openness, breadth, depth and partner newness. Their engagement with each of these dimensions depends on the desired outcomes of the innovation project and the strength of patents. Originality/value The research extends the extant supplier involvement in new product development literature to examine the effect of up to 11 types of external actor in NPD projects. The authors test a new multi-dimensional measurement scale for the openness construct. The authors show that each dimension has a different relationship with product innovativeness.

Impacts of strategic orientations on new product development and firm performances

2019 ◽  
Vol 22 (2) ◽  
pp. 257-280
Author(s):  
Wassim J. Aloulou
Keyword(s):  
Product Development ◽  
New Product Development ◽  
New Product ◽  
Equation Modeling ◽  
Future Research ◽  
Business Practices ◽  
Industrial Firms ◽  
Content Type ◽  
Strategic Orientations ◽  
Industrial Sectors

PurposeThe purpose of this paper is to investigate the relationships between strategic orientations as well as the role played by them to impact the performance of industrial firms.Design/methodology/approachThe paper formulates some hypotheses from the literature review. These hypotheses are tested using structural equation modeling with data collected from 292 randomly selected firms operating in several industrial sectors in the Kingdom of Saudi Arabia.FindingsThe findings of this study showed the importance of these strategic orientations in enhancing the performance of Saudi industrial firms and emphasized the mediating role of entrepreneurial orientation in the relationships of market orientation and technology orientation to new product development performance and firm performance.Research limitations/implicationsThe study discusses the findings and advances certain limitations and research and managerial implications for future research avenues. It proposes some recommendations to help Saudi firms to choose more than one orientation simultaneously and adopt an appropriate configuration of orientations. Future research has to consider the interplay between these strategic orientations and the impacts of environmental turbulence in terms of market and technology turbulence on strategic orientations – performance relationship.Practical implicationsThe study suggests that managers of Saudi industrial firms should utilize a mix of aspects from several strategic orientations such as market and technology through entrepreneurial capabilities and resources that enhance higher levels of performance.Originality/valueThis study contributes to the literature on entrepreneurship and strategic management by showing the reliability of scales used and the confirmatory of the factor structure. It also contributes to business practices by showing the importance for Saudi firms to combine different strategic orientations and provide more attention to the interplay of these orientations in order to perform better in such a transitional context.

scholarly journals Integrating supplier knowledge in new product development projects: decoupled and coupled approaches

2017 ◽  
Vol 21 (5) ◽  
pp. 1035-1052 ◽  
Author(s):  
David T. Rosell ◽  
Nicolette Lakemond ◽  
Lisa Melander
Keyword(s):  
Product Development ◽  
Knowledge Sharing ◽  
New Product Development ◽  
Knowledge Integration ◽  
New Product ◽  
Development Projects ◽  
Transfer Of Knowledge ◽  
Supplier Relationships ◽  
Content Type ◽  
Knowledge Intensive

Purpose The purpose of this paper is to explore and characterize knowledge integration approaches for integrating external knowledge of suppliers into new product development projects. Design/methodology/approach This paper is based on a multiple, in-depth case study of six product development projects at three knowledge-intensive manufacturing firms. Findings Firms make purposeful choices to devise knowledge integration approaches when working in collaborative buyer – supplier projects. The knowledge characteristics of the supplier input guide the choice of either coupling knowledge sharing and combining across firms or decoupling knowledge sharing (across firms) and knowledge combining (within firms). Research limitations/implications This study relies on a limited number of case studies and considers only one supplier relationship in each project. Further studies could examine the challenge of knowledge integration in buyer – supplier relationships in different contexts, i.e. in relation to innovation complexity and uncertainty. Practical implications Managers need to make choices when designing knowledge integration approaches in collaborative product development projects. The use of coupled and decoupled approaches can help balance requirements in terms of joint problem-solving across firms, the efficiency of knowledge integration and the risks of knowledge leakage. Originality/value The conceptualization of knowledge integration as knowledge sharing and knowledge combining extends existing perspectives on knowledge integration as either a transfer of knowledge or as revealing the presence of pertinent knowledge without entirely transmitting it. The findings point to the complexity of knowledge integration as a process influenced by knowledge characteristics, perspectives on knowledge, openness of firm boundaries and elements of knowledge sharing and combining.

To tell or not to tell? The impact of communicating consumer participation in new product development

2018 ◽  
Vol 27 (2) ◽  
pp. 158-171 ◽  
Author(s):  
Claudia Costa ◽  
Rita Coelho do Vale
Keyword(s):  
Product Development ◽  
New Product Development ◽  
Critical Role ◽  
New Product ◽  
Consumer Involvement ◽  
Consumer Participation ◽  
Product Complexity ◽  
Content Type ◽  
Innovation Ability ◽  
The Impact

Purpose This paper aims to analyze the implications of communicating customer involvement in the ideation and concept stage of new product development (NPD). This paper assesses the extent to which the awareness that a product was co-created jointly by company professional designers and consumers affects observer consumers’ attitudes toward the product and the company. While earlier research has mainly emphasized the positive and desirable consequences of consumer participation in NPD, the present set of studies shows that labeling products as having been co-created is not always valuable; rather, it is dependent on the level of perceived complexity of the products. Design/methodology/approach The hypotheses are tested in four experimental studies using several categories of product complexity (low, medium and high). The data have been collected on young adult samples, measuring the participants’ perceptions of a firm’s innovation ability and product purchase intentions. Findings The results suggest that there are benefits at the corporate level (higher perceptions of innovation ability) to inform the market about consumer involvement, particularly when consumers and company professionals work together. The findings also indicate that product complexity plays a critical role in translating the perceptions of greater corporate abilities (innovation) in purchase intention, and it is particularly beneficial for low-complexity products. Originality/value The previous research has mainly focused on the impact of involving consumers in firms and participating consumers; however, it has neglected the role of observer consumers. This study adds to the innovation literature by showing that the value of learning about other consumers’ involvement in firm NPD is not universally beneficial and that product complexity is a critical boundary condition.

The impact of user innovator mindset on feedback volume, feedback diversity and new product development performance

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jiajun Wu ◽  
Matthew O'Hern ◽  
Jun Ye
Keyword(s):  
Product Development ◽  
New Product Development ◽  
Online Survey ◽  
New Product ◽  
Research Database ◽  
Product Diffusion ◽  
Content Type ◽  
Product Improvement ◽  
The Impact ◽  
Npd Performance

PurposeThis study examines the influence of different user innovator mindsets on new product development (NPD) performance. The current research explores the relative impact of a product-focused user innovator mindset vs a customer-focused mindset on feedback volume and feedback diversity and investigates the effect of each type of feedback on product improvement and product diffusion.Design/methodology/approachThis study examines these relationships using two distinct types of data. Data on user innovator mindset, feedback characteristics and user innovator improvisation were obtained via an online survey. Archival data on NPD performance measures were acquired directly from an online research database, and results were obtained using confirmatory factor analysis.FindingsThe authors find that while neither type of user innovator mindset directly influences NPD performance, user innovators, who are highly customer-focused, have a significant advantage in sourcing knowledge from users in the form of a higher volume of feedback and more diverse feedback. In turn, feedback volume appears to positively influence product improvement, while feedback diversity positively influences product diffusion. Finally, the effect of both types of feedback on product improvement is enhanced for user innovators who are highly improvisational.Originality/valueThis research highlights the important role that customer focus plays in directly obtaining knowledge from customers (i.e. customer feedback) and the effects of that feedback on NPD performance. This study provides evidence that a user innovator's interest in accurately understanding the needs of their peers improves their access to external knowledge and enhances their innovation efforts.

The impact of social capital and knowledge sharing intention on restaurants’ new product development

2020 ◽  
Vol 32 (10) ◽  
pp. 3271-3293
Author(s):  
Mesbahuddin Chowdhury ◽  
Girish Prayag ◽  
Vidya Patwardhan ◽  
Nischal Kumar
Keyword(s):  
Social Capital ◽  
Product Development ◽  
Knowledge Sharing ◽  
New Product Development ◽  
New Product ◽  
Partial Least Square ◽  
Equation Modeling ◽  
Optimum Level ◽  
Content Type ◽  
The Impact

Purpose Using social capital theory, this study aims to investigate internal social capital (ISC) and external social capital (ESC) as determinants of knowledge sharing intention (KSI) and new product development (NPD) in high-end restaurants. Design/methodology/approach A theoretical model is developed and tested using data collected from 523 respondents (owners/proprietors, partners and managers) from high-end restaurants in Karnataka, India. Partial least square structural equation modeling is used to analyze the data. Findings The results suggest that ISC has a significant and positive influence on ESC. This highlights the important role of ISC in building ESC. While ISC has a positive relationship with KSI, ESC has no influence on KSI. KSI has a positive effect on NPD. Practical implications Restaurant managers and owners should invest time and resources in building ISC by nurturing relationships with employees and partners. Encouraging and rewarding collaborative behaviors internally will facilitate the development of external relationships. Results also suggest the existence of an optimum level of knowledge sharing with external partners in restaurants. Originality/value To the best of the authors’ knowledge, this is the first study to examine the relationship between ISC and ESC, and test the effects of both KSI and NPD in high-end restaurants.

Sign in / Sign up

Export Citation Format

Share Document