INNOVATION IN HEAVY CONSTRUCTION EQUIPMENT MANUFACTURING: AN EXPLORATORY STUDY

2006 ◽  
Vol 10 (02) ◽  
pp. 127-161 ◽  
Author(s):  
MURRAY R. MILLSON ◽  
DAVID WILEMON
Keyword(s):  
Product Development ◽  
New Product Development ◽  
Support Groups ◽  
New Products ◽  
Product Market ◽  
New Product ◽  
Construction Equipment ◽  
Equipment Industry ◽  
Heavy Construction ◽  
Market Success

This research investigates three major hypotheses important to new product market success in the heavy construction equipment industry which are as follows: the greater the degree of organisational integration during the development of new products, the greater will be the market success of new products; the greater the degree of organisational integration during the development of new products, the greater will be the proficiency with which new product development activities are performed; and the greater the proficiency with which new product development activities are performed, the greater will be the new product's success in the marketplace. Information was obtained concerning the most and least successful new products of U.S. firms in the heavy construction equipment industry. "Organisational integration" is defined as the degree of cooperation and communication between internal and external new product development (NPD) "support" groups and NPD teams. "NPD process proficiency" is defined as how well new product development stages and the NPD process as a whole are performed. "New product market success" is represented by four measures that encompass profit expectations, sales expectations, success entering new markets and entering existing markets with new products successfully. The survey approach was utilised to obtain data. Questionnaires were mailed to recipients such as New Product Development Managers who had already been designated by executives of the sample firms. A number of important findings were uncovered during this research. The integration between an organisation's customers and an NPD team is important to the success of newly developed heavy construction equipment products. However, the integration between organisations that supply material, components, assemblies and fabrications to new heavy construction equipment developers was found to hinder the market success of newly developed heavy construction equipment. These and other findings suggest several important implications for product development managers and scholars.

A MODERATION STUDY OF ORGANISATIONAL INTEGRATION AND NPD PROCESS PROFICIENCY IN THE U.S. AND KOREAN HEAVY CONSTRUCTION EQUIPMENT INDUSTRIES

2015 ◽  
Vol 19 (05) ◽  
pp. 1550061 ◽  
Author(s):  
MURRAY R. MILLSON ◽  
JONGBAE KIM
Keyword(s):  
New Product Development ◽  
Process Development ◽  
Product Market ◽  
New Product ◽  
Construction Equipment ◽  
Combined Model ◽  
Research Questions ◽  
Heavy Construction ◽  
The U.S ◽  
Market Success

This study explores the potential differences between the relationships relating the market success of new products, the proficiency with which new product development (NPD) activities are executed during NPD processes, and the degree of organisational integration among various groups during NPD processes in the (U.S.) and Korea. This research addresses three major research questions: (1) Does NPD process proficiency impact new product market success in U.S. and Korean firms? (2) Does organisational integration impact new product market success in U.S. and Korean firms? and (3) Does country moderate the relationships between NPD process proficiency and new product market success, and between organisational integration and new product market success? This study is based on NPD data related to new product projects from the heavy construction equipment industries in the U.S. and Korea. Based on our combined model, it was found that NPD process development proficiency significantly impacts new product market success but organisational integration does not impact new product market success. Additionally, it was found that country moderates the NPD process proficiency-NPD market success and NPD organisational integration-NPD market success relationships. Study implications and recommendations are provided for NPD managers based on this research.

Entrepreneurial Bricolage and New Product Development Performance in New Ventures: The Contingent Effects of Founding Team Involvement

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Xinchun Wang ◽  
Xiaoyu Yu ◽  
Xiaotong Meng
Keyword(s):  
Product Development ◽  
New Product Development ◽  
Resource Constraints ◽  
New Ventures ◽  
New Products ◽  
New Product ◽  
Strategic Decision ◽  
Entrepreneurial Bricolage ◽  
Founding Team ◽  
Npd Performance

Abstract New product development (NPD) performance is a key determinant of a new venture’s success. However, compared with established firms, new ventures often suffer from resource constraints when developing new products. Entrepreneurial bricolage is reported in the literature as an alternative strategic option that enables managers to overcome resource constraints when developing new products. However, because new ventures are often founded by an entrepreneurial team, the effectiveness and efficiency of using bricolage to improve NPD performance might be contingent on how the founding team plays its roles in this process. Using data from 323 new ventures in China, we find support for the critical role of entrepreneurial bricolage in improving NPD success under resource constraints. More importantly, our results reveal that the bricolage strategy is more likely to benefit a venture when the founding team is composed of members with diverse functional backgrounds and is not heavily involved in strategic decision-making.

New Product Development in Malaysia: Does Organizational Background Really Matter?

2014 ◽  
Vol 68 (3) ◽  
Author(s):  
Tan Owee Kowang ◽  
Amran Rasli ◽  
Choi Sang Long
Keyword(s):  
Product Development ◽  
Research And Development ◽  
New Product Development ◽  
New Products ◽  
New Product ◽  
Multinational Companies ◽  
Product Performance ◽  
Survey Questionnaire ◽  
New Product Performance ◽  
Npd Performance

New Product Development (NPD) is vital in assisting Research and Development (R&D) based organizations to adapt to the changes in markets and technology for competitive advantage. Ensuring the success of new products and optimization of new product performance is critical and essential for Research and Development based organizations.  Hence, this study is carried out to explore does organizational background in term of company’s ownership (i.e. local or multinational companies) and operational scales (i.e. number of Research and Development staffs) affect NPD performance of Research and Development companies in Malaysia. In line with this, 8 New Product Development performance attributes were identified from literature review. These attributes were subsequently formulated into a survey questionnaire and responded by 186 respondents. Thereafter, the effect of organizational ownership and operational scale toward NPD performance are examined separately via Independent Sample t-test and Analysis of Variance (ANOVA). Finding from the study revealed that the level of NPD performance in multinational R&D companies is higher than local R&D companies. Findings from this research also implied that NPD performance can be further improved by increasing number of R&D staffs.  

Meta4acle: Generating Compelling Metaphors for Design

2008 ◽  
Author(s):  
Erik M. W. Kolb ◽  
Jonathan Hey ◽  
Hans-Ju¨rgen Sebastian ◽  
Alice M. Agogino
Keyword(s):  
Product Development ◽  
Case Studies ◽  
New Product Development ◽  
Team Member ◽  
New Products ◽  
New Product ◽  
Design Teams ◽  
Exploration Tool ◽  
Design Case ◽  
Positive Results

Metaphors have successfully been used by new product development and design teams to help frame the design situation and communicate new products to stakeholders. Yet, the process of finding a compelling metaphor often turns upon stumbling upon it or a flash of insight from a team member. We present Meta4acle: a Metaphor Exploration Tool for design that suggests possible metaphors to make the process more one of ‘seeking out’ than ‘stumbling upon’ an effective metaphor. The tool takes data about the project in the form of a title, domain and key associations required of the metaphor and returns suggestions from a database of possible metaphor sources. We built a Meta4acle prototype and evaluated it with positive results for three existing design case studies. We present plans for its full implementation and evaluation.

scholarly journals The impact of information management in developing new products in bank – an empirical analysis

2021 ◽  
Vol 54 (3-4) ◽  
pp. 197-206
Author(s):  
Zoran Najdanović ◽  
Natalia Tutek
Keyword(s):  
Product Development ◽  
Information Management ◽  
New Product Development ◽  
New Products ◽  
New Product ◽  
Business Decisions ◽  
Customer Preferences ◽  
The Right ◽  
The Impact

Successful information management is big challenge for any organization. In this paper the emphasis is on information management in new product development in bank. Under strong pressure from competition and new technological changes, as well as the turbulent changes in the environment, financial institutions must continuously develop new products and services. In order to make the services more interesting to the users, it is necessary to collect data about the users, their wishes and preferences. The data should then be converted into useful information that will result with developing the right product or service that users will recognize as necessary. Products become personalized, user-friendly, and the emphasis is on the importance of long-term company relationships with customers. Only with well-organized information, managers can make the right business decisions and companies can react in time to market changes. When creating their strategy, successful companies analyze and identify elements that significantly contribute to creating a competitive advantage and ensuring long-term growth and development. The paper presents an empirical research of customer preferences which lead to new product development in bank.

scholarly journals Capital Market Returns to New Product Development Success: Informational Effects on Product Market Advertising

2018 ◽  
Vol 56 (1) ◽  
pp. 37-56 ◽  
Author(s):  
Kyung M. Park ◽  
Pradeep K. Chintagunta ◽  
Inho Suk
Keyword(s):  
Product Development ◽  
Stock Returns ◽  
New Product Development ◽  
Capital Market ◽  
Abnormal Returns ◽  
Product Market ◽  
New Product ◽  
Direct To Consumer ◽  
Direct To Consumer Advertising ◽  
The Capital Market

The authors aim to answer the following question: If the capital market reacts with abnormal stock returns to new product development success events, do these returns influence subsequent marketing decisions? Drawing on informational market feedback and managerial learning theories, the authors posit that when firms are uncertain about how responsive the product market will be to their marketing activities, signals received from the capital market help them update their beliefs about the product market’s responsiveness. In the pharmaceutical context, the authors decompose the abnormal returns at a new drug approval event into components that the firm can and cannot predict (i.e., predicted and unpredicted abnormal returns) and find that the postapproval advertising budget is larger when unpredicted abnormal approval returns are higher. Furthermore, this tendency is more pronounced for spending on detailing than for direct-to-consumer advertising. Consistent with these higher budgets, the authors find that postlaunch advertising is more effective when unpredicted abnormal approval returns are higher, particularly for detailing spending (vs. direct-to-consumer advertising). Overall, this study suggests that information flows from the capital market’s initial perceptions at new product introduction play an important role in subsequent marketing decisions in the product market.

A RESOURCE-BASED STUDY OF NEW PRODUCT DEVELOPMENT: PREDICTING FIVE-YEAR LATER COMMERCIAL SUCCESS AND SPEED TO MARKET

2004 ◽  
Vol 08 (03) ◽  
pp. 243-260 ◽  
Author(s):  
ROBERT T. KELLER
Keyword(s):  
Product Development ◽  
New Product Development ◽  
New Products ◽  
New Product ◽  
Marketing Capabilities ◽  
Effective Management ◽  
Commercial Success ◽  
Speed To Market

Hypotheses derived from a resource-based model of new product development were used to predict five-year later commercial success in the form of profitability and speed to market for a sample of 117 new products from four firms in different industries. The results found marketing capabilities to be the best predictor of profitability, and that technical capabilities and leadership capabilities were also significant predictors. Leadership capabilities were the only significant predictor of which products made it to market, and of speed to market. Implications for models of new product development and for its effective management are discussed.

scholarly journals A study on Apple ber to identify the suitability of new product development

2020 ◽  
Vol 7 (1) ◽  
pp. 61-69
Author(s):  
S Mathangi ◽  
J P Maran
Keyword(s):  
Product Development ◽  
New Product Development ◽  
New Products ◽  
Chemical Properties ◽  
New Product ◽  
Proximate Analysis ◽  
Physico Chemical ◽  
The World ◽  
The One ◽  
Powdered Form

This study emphasis on the physico-chemical properties of a new ber variety (Apple ber) originated in Thailand and slowly emerging in many parts of the world. The analysis is done under two different conditions the one being controlled and second one is blanched. The analysis revealed that the controlled condition is superior in physico-chemical properties than the blanched one. Also, proximate analysis was carried out on the fruit and its powdered form. In this analysis also controlled condition parameters were ahead of blanched. New products were developed with the Apple ber powder.

scholarly journals Insights from an Entrepreneur: Interview with Dr. Sushil Bhatia, Founder of JMD

2014 ◽  
Vol 5 (1) ◽  
pp. 81-87
Author(s):  
Vinnie Jauhari
Keyword(s):  
Product Development ◽  
New Product Development ◽  
New Technologies ◽  
New Products ◽  
New Product ◽  
Lessons Learnt

This article is presented in the form of an interview with Dr. Sushil Bhatia conducted by Dr. Vinnie Jauhari. This interview with Dr. Sushil Bhatia, President and CEO of JMD, an organization based in USA provides insights into how new products are developed. The interview also documents challenges faced in new product development. The discussion with Dr. Bhatia also involves discussing the challenges in developing new technologies and difficulties associated with the process of commercialization. The lessons learnt therein would be valuable for both practitioners and academics.

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