New product and emerging business growth in Kwara State

2016 ◽  
Vol 12 (3) ◽  
pp. 207-227 ◽  
Author(s):  
Seun Oladele ◽  
Femi Oladele
Keyword(s):  
Market Share ◽  
Manufacturing Industry ◽  
Service Industry ◽  
New Product ◽  
Sales Volume ◽  
Test Results ◽  
Business Growth ◽  
Content Type ◽  
Product Service ◽  
Service Portfolio

Purpose – The purpose of this paper is to examine the effect of new product on growth of emerging businesses (EBs) through sales volume and market share. Design/methodology/approach – The study surveyed 137 EBs in Kwara State. Two hypotheses were formulated and tested using correlation and regression analyses. Findings – Results show that service industry is dominant among EBs while the manufacturing industry trails. Many EBs are aware of the complexities of new product, its development and contribution to increasing sales volume, market share and ensuring competitive advantage with apparent infrastructural deficiencies. Test results show that there is a significant positive relationship and effect on sales volume and market share. Originality/value – Encouraging EBs to step up and focus on improving product/service portfolio to transform their fortune is explored giving focus to the benefits of increasing sales volume and market share.

The prioritization of technologies and public R&D roles between the manufacturing and service industries in the fourth industrial revolution

foresight ◽  
2019 ◽  
Vol 21 (6) ◽  
pp. 680-694 ◽  
Author(s):  
Jinwon Kang ◽  
Jong-Seok Kim ◽  
Seonmi Seol
Keyword(s):  
Artificial Intelligence ◽  
Manufacturing Industry ◽  
Market Failure ◽  
Industrial Revolution ◽  
Service Industry ◽  
Service Industries ◽  
Delphi Survey ◽  
Smart Factory ◽  
Content Type ◽  
Fourth Industrial Revolution

Purpose The purpose of this study is to reveal the similarities and differences between the manufacturing and service industries in their prioritization of technologies and public research and development (R&D) roles, along with the complementation of properties of technology and public R&D role in the context of Fourth Industrial Revolution. Design/methodology/approach Two rounds of Delphi surveys were designed to meet the purpose of this study, which used rigorous triangulation techniques. The Delphi method was combined with the brainstorming method in the first-round Delphi survey, while the second-round Delphi survey focused on experts’ judgments. Finally, language network analysis was performed on the properties of technology and public R&D roles to complement the data analyses regarding prioritization. Findings This study identifies different prioritizations of five similar key technologies in each industry, so that it can note different technological impacts to the two industries in the Fourth Industrial Revolution. Smart factory technology is the first priority in the manufacturing industry, whereas artificial intelligence is the first priority in the service industry. The properties of the three common technologies: artificial intelligence, big data and Internet of things in both industries are summarized in hyper-intelligence on hyper-connectivity. Moreover, it is found that different technological priorities in the service and manufacturing industries require different approaches to public R&D roles, while public R&D roles cover market failure, system failure and government failure. The highest priority public R&D role for the service industry is the emphasis of non-R&D roles. Public R&D role to solve dy-functions, focus basic technologies and support challenging areas of R&D is prioritized at the highest for the manufacturing industry. Originality/value This study of the different prioritizations of technologies in the manufacturing and service industries offers practical lessons for executive officers, managers and policy-makers. They, by noting the different technological impacts in the manufacturing and service industries, can prepare for current actions and establish the priority of technology for R&D influencing the future paths of their industries in the context of the Fourth Industrial Revolution. While managers in the service industry should pay greater attention to the technological content of hyper-intelligence and hyper-connectivity, managers in the manufacturing industry should consider smart factory and robot technology.

An investigation into manufacturing performance achievements accrued by Indian manufacturing organization through strategic 5S practices

2018 ◽  
Vol 67 (4) ◽  
pp. 754-787 ◽  
Author(s):  
Jugraj Singh Randhawa ◽  
Inderpreet Singh Ahuja
Keyword(s):  
Lean Manufacturing ◽  
Manufacturing Industry ◽  
Service Industry ◽  
Manufacturing Sector ◽  
Successful Implementation ◽  
Automotive Manufacturing ◽  
Content Type ◽  
Manufacturing Performance ◽  
Improvement Programs ◽  
Manufacturing Organization

Purpose The purpose of this paper is to evaluate the quantitative and qualitative benefits accrued by an Indian automotive parts industry through strategic 5S implementation initiatives. Design/methodology/approach The study involves evaluation of steps involved in systematic implementation of 5S program methodology in an automotive manufacturing organization and investigation of achievements accrued by the industry through the successful implementation of 5S program. Findings The empirical results of the study have revealed that effective practice of 5S program brings considerable level of improvements in the quality, production, cost optimizations, employee’s morale values and work culture in the manufacturing industry. The industry accrued both tangible and non-tangible benefits through the holistic adoption of 5S principals. 5S principals have been envisioned to further support other quality improvement programs like lean manufacturing initiatives of the organizations. Research limitations/implications The limitation of the study is that this research has been carried out in only manufacturing industry while similar study will be conducted in the service industry also. Originality/value Global competition in the manufacturing sector has provided necessary impetus for manufacturing organizations for affecting continuous improvements in manufacturing performance for achieving sustainability and profitability in the competitive market. 5S implementation is the fundamental tool for the overall achievements in both quantitative and qualitative performance enhancements in the manufacturing as well as service organizations.

Decision making in creating the world's first smartphone

2011 ◽  
Vol 1 (4) ◽  
pp. 1-10
Author(s):  
Virginia Cha
Keyword(s):  
Decision Making ◽  
Product Development ◽  
Technology Management ◽  
New Product Development ◽  
Manufacturing Industry ◽  
New Product ◽  
Future Market ◽  
Market Uncertainty ◽  
Content Type ◽  
New Generation

TitleDecision making in creating the world's first smartphoneSubject areaEntrepreneurship, Technology management and new product development.Study level/applicabilityThis class is useable for an EMBA or MBA audience, especially for modules relating to entrepreneurship, technology management and new product development.Case overviewMr Khaw Kheng Joo was a pioneer in Singapore's high‐technology manufacturing industry. In the mid‐1990s, Khaw was given the difficult task of establishing a presence for Hewlett‐Packard (HP) in the handheld Personal Digital Assistant (PDA) market. However, he believed that the PDA was not the game‐changing technology for consumers.Using his knowledge of the Bell Curve and years of entrepreneurial experience, Khaw sought to combine PDA functionalities with the Global System for Mobile Communication (GSM) technology, effectively creating a new generation of mobile device fondly known today as the “smartphone”.The journey towards the finished product was met with several obstacles and barriers. Many colleagues were uncertain of the future market and had difficulty agreeing on which features to focus on. However, through his determination, expertise and decision making in uncertainty, Khaw guided his team to eventually launch the impressive HP Jornada 928, the world's first smartphone, and heralded a new generation of mobile devices.Expected learning outcomesThis case is designed to be useable in teaching three key knowledge disciplines:Decision‐making biases and heuristics in entrepreneurs and innovators. Technology diffusion of new technology. Managing market uncertainty.Supplementary materialsTeaching notes.

Impacts of environmental turbulence on entrepreneurial orientation and new product success

2014 ◽  
Vol 17 (2) ◽  
pp. 229-249 ◽  
Author(s):  
Stanley Kam-Sing Wong
Keyword(s):  
New Product Development ◽  
Entrepreneurial Orientation ◽  
Manufacturing Industry ◽  
New Product ◽  
Policy Implications ◽  
Three Dimensions ◽  
Environmental Turbulence ◽  
New Product Success ◽  
Content Type ◽  
Product Success

Purpose – What leads to new product success (NPS) is a very complex issue. Although prior research widely demonstrates that entrepreneurial orientation (EO) is a determinant for NPS and environmental turbulence is a form of unpredictability which impacts on the success of a product, little research has been conducted to examine if and to what extent environmental turbulence induces the EO behaviors of a firm and how these behaviors contribute to NPS. The paper aims to discuss these issues. Design/methodology/approach – This study, which used data collected from 244 China-based electronics manufacturers, proposed and tested the theoretical relationships among the three constructs in the context of the electronics industry in China. Findings – Results revealed that the three dimensions of EO (innovativeness, proactiveness and risk-taking) drive NPS. Environmental turbulence strongly influenced all three dimensions of EO, though its influence on NPS was mixed as there existed a strong negative but insignificant direct association between the two constructs. Innovativeness, which was found to be most effective in driving NPS in the EO and NPS relationship, was relatively less responsive to environmental turbulence than proactiveness. The study confirmed the postulated role of environmental turbulence in inducing the EO behaviors of a firm, signaling environmental turbulence, if tactfully leveraged, can play a positive role in new product development (NPD). Research limitations/implications – The study is quantitative using data emanating from the electronics manufacturing industry in China, further empirical study would be useful to verify and complement the results in other industries and other countries. Originality/value – This study contributes to the scholarly inquiry of EO and NPD by exploring the influences of environmental turbulence and EO on NPS. As environmental turbulence induces EO and EO mediates the relationship between environmental turbulence and NPS, simultaneous consideration of these two constructs can lend useful insight into their joint impacts on NPD. Theoretical and managerial implications were examined and policy implications, especially the practicality of the findings to policymakers in China, were discussed.

scholarly journals 360º̉ SERVITIZATION AS STRATEGY FOR BUSINESS GROWTH

2019 ◽  
Vol 3 (2) ◽  
Author(s):  
S. D. S. R. MAHEEPALA ◽  
C. CENTONZE ◽  
B. N. F. WARNAKULASOORIYA ◽  
Y. K. WEERAKOON BANDA
Keyword(s):  
Business Model ◽  
Single Case ◽  
Product Portfolio ◽  
Manufacturing Companies ◽  
Business Growth ◽  
Unique Product ◽  
Product Service ◽  
Service Portfolio ◽  
Business To Business

Servitization is type a business model innovation where companies extend their product offers through related services. A 360º̉ Servitization is when the manufacturing company uses a base, intermediary and advance service portfolio together with their product portfolio to co-create a unique value proposition to each customer. This research aims to understand how an organization ventures to grow the business through a 360º̉  Servitization. Underpinning the Resource Advantage Theory, a single-case study is conducted in order to achieve the aim of the paper. Data was  collected from semi-structured interviews, company reports and the website. A participatory approach with the company CEO strengthened the esearch findings. A deductive content analysis was conducted and findings were reported. This study identifies the importance of a unique product service bundle for each existing and potential customer to co-create value to enhance business growth. The research further identifies the importance of all service types such as base services, intermediary services and advance services when creating a unique product service bundle. The Product- Service-Customer Matrix developed in this study is an import tool for business to business manufacturing organizations in the 21st century to co-create value with the customer. This matrix is a useful tool for managers in business to business manufacturing companies to amplify businessrowth opportunities. Due to limitations inherent in a qualitative case study approach it is not possible to generalize the findings beyond the case company. Moreover, researches in different manufacturing companies are required to improve the generalizability.KEYWORDSBusiness Growth, Business Model, Product-Service, Servitization

The role of product lean launch in customer relationships and performance in the high-tech manufacturing industry

2015 ◽  
Vol 35 (8) ◽  
pp. 1207-1223 ◽  
Author(s):  
Tun-Chih Kou ◽  
Bruce C. Y. Lee ◽  
Chiou-Fong Wei
Keyword(s):  
Manufacturing Industry ◽  
New Product ◽  
Product Performance ◽  
Customer Relationship ◽  
High Tech ◽  
Content Type ◽  
Marketing Performance ◽  
New Product Performance ◽  
Senior Management Involvement ◽  
And Behavior

Purpose – Most new product research for the past two decades has focussed on new product development and product innovation. Only a few product launches have been discussed in specific fields. The purpose of this paper is to fill the literature gap regarding enhanced product launch performance by using the customer relationship. Design/methodology/approach – From the contract manufacturer’s perspective, the authors propose that the customer relationship and senior management involvement affects lean launch execution. The customer relationship includes both cooperativeness and behavior monitoring. Studies have suggested that a lean launch exerts a direct influence on new product performance and marketing performance. We used a questionnaire to collect data to test the postulated research model and hypotheses from project, account, and purchasing managers in the high-tech manufacturing industry. Findings – The results provided compelling evidence that the customer relationship exerts a positive effect on lean launch, which in turn exerts a positive effect on new product performance. Although lean launch execution affected marketing performance through new product performance, the direct effect on marketing performance was non-significant. Senior management involvement exerted an indirect influence on lean launch performance through cooperativeness. Originality/value – This paper suggests and empirically tests a model to explain how contract manufacturers manage brand-customer relationship through cooperativeness and behavior monitoring, leading to higher levels of lean launch execution toward new product performance.

Reliability and validity of new product development practices in Indian manufacturing industries

2014 ◽  
Vol 11 (1) ◽  
pp. 82-101 ◽  
Author(s):  
Kalluri Vinayak ◽  
Rambabu Kodali
Keyword(s):  
Best Practices ◽  
Product Development ◽  
New Product Development ◽  
Support System ◽  
Cost Reduction ◽  
Manufacturing Industry ◽  
Reliability And Validity ◽  
New Product ◽  
Manufacturing Industries ◽  
Content Type

Purpose – The purpose of this paper is to conduct an empirical investigation on the new product development (NPD) practices in Indian manufacturing industries. The NPD best practices constructs are identified from the literature and then an effort have been made to statistically establish the underlying principal components of NPD practices by checking their reliability and validity for the case of Indian manufacturing industry. Design/methodology/approach – In all, 96 NPD best practices constructs are identified from literature articles published between 1998 and 2009. Principal component analysis (PCA) is conducted to establish the seven components of NPD practices. Cronbach's α values are computed to measure internal consistency or reliability of the established components of NPD practices. Further, confirmatory factor analysis is conducted on the established measurement model to test a hypothesized factor structure through construct validity, convergent validity and divergent validity. Findings – The PCA of NPD best practices identified the seven underlying components (latent variables) namely “NPD strategy,” “NPD support system,” “product portfolio management,” “NPD team,” “NPD tools,” “product launch” and “concept generation.” In NPD strategy, Indian manufacturing companies are highly inclined toward cost reduction, cycle time reduction, competitive advantage and fast follower strategies. All NPD support system constructs are information technology dependent tools which require hardware, software and databases to support it. Indian manufacturing organizations are fundamentally concentrating on right balance of portfolio through improvements in the current products, cost reduction and additions to existing lines by using modular architectures and the reliable and valid NPD tools are FMEA, six sigma/quality management, DFMA/DF’X and QFD. Originality/value – To the best of the author's knowledge, this research represents the first attempt to investigate empirically the NPD practices in Indian manufacturing industry.

Pharmaceutical innovation and market share: evidence from a generic market

2016 ◽  
Vol 10 (4) ◽  
pp. 376-389 ◽  
Author(s):  
Nazila Yousefi ◽  
Gholamhossein Mehralian ◽  
Hamid Reza Rasekh ◽  
Hossein Tayeba
Keyword(s):  
Pharmaceutical Industry ◽  
Product Development ◽  
New Product Development ◽  
Market Share ◽  
Historical Data ◽  
Expert Panel ◽  
New Products ◽  
New Product ◽  
Pharmaceutical Market ◽  
Content Type

Purpose Pharmaceutical market value in Iran exceeded to more than US$4bn in 2013, indicating annually over 20 per cent growth. In the past decades, Iranian pharmaceutical industry was supported by government policies, namely, generic substitution, import limitation and local production support; however, the local pharmaceutical manufacturer’s market share in value has been decreased gradually. This study aims to provide historical data on Iran pharmaceutical market to show the importance of new product development to attain greater market share and tries to motivate the pharmaceutical industry located in developing countries to develop more innovative medicines. Design/methodology/approach This is a descriptive cross-sectional study that investigates the Iranian pharmaceutical market by focusing on new products over a five-year period (2009-2014), and that was augmented by an expert panel to rank subjectively firms’ performance indicators to shed light on the importance of new product development to firms’ performance. Findings The expert panel results find out that new product development is one of the most important “result indicators” for Iranian pharmaceutical companies. Historically, in line with the experts’ opinion on the new product development, the Iranian pharmaceutical industry has shown its capability to develop new medicines by developing 3,095 new products (mostly new-to-firm) across about 100 firms. Despite this fact, the share of local manufacturers in new medicines’ market decreased from 52 per cent at the beginning of studied period to 24 per cent at the end, and the gap between the unit value of imported and domestically produced medicines has been significantly increased due to low-innovative medicines locally produced. Research limitations/implications This research was challenged with limitations such as lack of reliable published data on new medicines in the Iran pharmaceutical market. Practical implications This study highlights the fact that developing more innovative products in the generic pharmaceutical industry such as Iran can grant its market share. Originality/value This is an original study that shows the effect of innovative product development on market share through historical data.

Launch of Roulette – a premium brandy in India by JDPL

2013 ◽  
Vol 3 (7) ◽  
pp. 1-6
Author(s):  
Gopalakrishnan Narayanamurthy ◽  
Anand Gurumurthy
Keyword(s):  
Market Share ◽  
Alcoholic Beverage ◽  
New Product ◽  
Subject Area ◽  
Target Market ◽  
Department Heads ◽  
Content Type ◽  
Beverage Industry ◽  
Launch Strategy ◽  
Cost Efficient

Subject area Launch strategies, marketing techniques and data analytics procedure adopted by a firm before launching a new product. Study level/applicability Academic students and management trainees who want to learn the methodology adopted by firms with respect to strategic management and marketing for launching a new product in Indian market. Case overview Launch plan for Roulette, a premium segment brandy manufactured by John Distilleries Private Limited, has to be designed for Karnataka, Pondicherry and Andhra Pradesh markets in India by the Brand Manager Mr Pundlik Kalburgi. Competitors and target market share needs to be identified for all the three markets. Potential outlets, target outlets, channel-wise sales contribution, depot-wise sales contribution and size of the packs to be produced need to be identified for Karnataka market. These identifications need to be submitted to the chairman of the company and other department heads to implement the launch. Expected learning outcomes Pareto rule (80/20 rule) application for cost-efficient launch strategy; segmentation and identification of competitors; procedure to identify potential of the launch product and market share that can be targeted; and understanding the complete functioning of alcoholic beverage industry in Indian markets (with special reference to Karnataka) and analysing the market data to build an entire launch plan; 4.1 Identifying channel-wise potential and target outlets for the launch product; 4.2 Identifying potential and target depots and number of outlets under each of the depots; 4.3 How pack size of launching product to be manufactured is decided upon. Supplementary materials Teaching notes are available for educators only. Please contact your library to gain login details or email [email protected] to request teaching notes.

Empirical study on quality management for product-service systems in industrial environment

2016 ◽  
Vol 22 (5) ◽  
pp. 969-978 ◽  
Author(s):  
Florian Pasch ◽  
Christoffer Rybski ◽  
Roland Jochem
Keyword(s):  
Quality Management ◽  
Value Creation ◽  
Manufacturing Industry ◽  
Individual Performance ◽  
Service Systems ◽  
Content Type ◽  
Product Service ◽  
Study Results ◽  
E Mail ◽  
Product Service Systems

Purpose – To achieve long-term customer retention a comprehensive and individual performance is increasingly important for companies from the manufacturing industry. A possibility to meet this challenge is given by Industrial Product-Service Systems (IPS2). The purpose of this paper is to discuss the results of a current study on quality management for IPS². Design/methodology/approach – After a short introduction to the topic of IPS² the paper takes the study design as its structure. It gives an overview of the demography and results of the study and ends with a conclusion. Findings – Concerning the choice of products and services the results show that customer individual performances prevail. Closely related to that is the tender of services, which are meanwhile a part of the performance offer in all industries. All in all there are already first types of IPS². The quality perception exceeds the conformance of specific requirements. Reliability and perceived quality are becoming increasingly important. An integration of customers into the quality management is the exception. Regarding the quality management in value creation chains it can be outlined that quality goals are mostly company-wide but not for the entire value creation chain. Cross-company standardized processes exist in least cases. This also applies to cross-linked CAQ-systems. Communication of quality problems is handled mainly via e-mail. Quality management in value creation chains needs a common buildup of competencies by joint trainings. In practice it is barely there. Even if the potential is seen, partners and suppliers mostly will not be considered. Originality/value – The paper considers the study results from different angles and shows the potentials of the IPS² approach. Thereby it investigates different approaches to offer a combined product-service system.

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