scholarly journals CROWDSOURCING: A STRATEGY FOR FIRM PERFORMANCE IN THE PLASTIC MANUFACTURING SECTOR IN SOUTHEAST NIGERIA

2021 ◽  
Vol 3 (7) ◽  
pp. 228-236
Author(s):  
Agbasi Emmanuela Obianuju ◽  
Nwosu Kanayo Chike ◽  
Dibua Emmanuel Chijioke
Keyword(s):  
Firm Performance ◽  
Product Development ◽  
New Product Development ◽  
Manufacturing Sector ◽  
Idea Generation ◽  
New Product ◽  
Manufacturing Firms ◽  
Manufacturing Companies ◽  
Open Collaboration ◽  
Product Creation

The heavy reliance of manufacturing firms in the south-eastern part of Nigeria on their team of experts in Research and Development (R & D), to come up with new ideas and innovation, and the neglect of the input of customers in this process necessitated this study to examine the nexus between crowdsourcing and firm performance in the plastic manufacturing sector in southeast Nigeria.  The work was anchored on the Human Capital Theory. The study adopted a survey research design as the most suited for the work. Two states were selected judgmentally, because of the concentration of plastic manufacturing firms in those States. Eighteen plastic manufacturing firms were selected randomly, with a population strength of 328. The sample size was 176, arrived at using Krejcie and Morgan formula. Questionnaire was the instrument for data collection, and it was subjected to content validity and reliability tests using correlation method, which returned a coefficient of 0.879. The data collected were analyzed using regression analysis through the ordinary least square method, at a 5% level of significance. Findings revealed that a positive relationship exists between the variables (r = .973). A 95% change in new product development was accounted for by changes in open collaboration in the plastic manufacturing sector in Southeast Nigeria (R2 = .947, F = 2802.884, p-value < 0.05). The study, therefore, concluded that involving customers in the process of new product creation is key to its acceptability by the public. As a result, it was recommended that the managers and owners of plastic manufacturing companies need to find a way to get the customers involved in their idea generation and new product creation for a sustained creditable performance.  Keywords: Crowdsourcing, Firm Performance, Plastic Manufacturing Sector, Open Collaboration and New Product Development.

A case study on FMEA-based improvement for managing new product development risk

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Antonio Carrizo Moreira ◽  
Luis Miguel D.F. Ferreira ◽  
Pedro Silva
Keyword(s):  
Product Development ◽  
New Product Development ◽  
Early Phase ◽  
Design Methodology ◽  
New Product ◽  
Manufacturing Companies ◽  
User Friendliness ◽  
Content Type ◽  
Development Risk

PurposeThe purpose of this paper is to explore the applicability of the failure mode and effects analysis (FMEA) as an effective tool for decreasing failure risk in the early phase of the new product development (NPD), which adds to existing literature on the application of FMEA in NPD.Design/methodology/approachThrough the application of action research (AR) methodology, it was possible to develop a case study examining the use of FMEA to decrease NPD risk in an early phase of NPD execution.FindingsThe importance and immediate gains of identifying NPD failures support FMEA's usefulness for NPD risk decrease. Moreover, its user-friendliness, timeliness and cost advantages facilitate the introduction of FMEA in the early phase of NPD execution.Originality/valueFMEA is a well-known method used in manufacturing companies to identify and correct failures in products, processes and systems. This article explores the lack of practice-oriented evidence on the use of FMEA in the early phase of NPD execution and provides support to its applicability and effectiveness.

THE USE OF PROCESSES AND METHODS IN NPD — A SURVEY OF SWEDISH INDUSTRY

2004 ◽  
Vol 01 (01) ◽  
pp. 37-54 ◽  
Author(s):  
JONAS RUNDQUIST ◽  
ARON CHIBBA
Keyword(s):  
Product Development ◽  
Success Rate ◽  
New Product Development ◽  
New Product ◽  
Manufacturing Firms ◽  
Reward Systems ◽  
The Us

Research often suggests that formal New Product Development (NPD) processes increase the success rate of NPD projects in a firm. However, recent studies indicate a relatively low usage of formal NPD-processes. Very few studies of NPD practices have been carried out in contexts other than that of the US, thus it is of interest to explore whether or not important differences exist. The present study aims to identify the use of and practices within formal NPD-processes in Swedish manufacturing firms and to compare the results with a study conducted in a US context. The results indicate that differences exist in for example reward systems for NPD teams.

The Impact of Publishing and Patenting Activities on New Product Development and Firm Performance: The Case of the US Pharmaceutical Industry

2003 ◽  
Vol 07 (02) ◽  
pp. 213-221 ◽  
Author(s):  
G. Steven McMillan ◽  
Alfredo Mauri ◽  
Robert D. Halmilton
Keyword(s):  
Firm Performance ◽  
Pharmaceutical Industry ◽  
Product Development ◽  
New Product Development ◽  
New Product ◽  
The Us ◽  
Managerial Implications ◽  
Performance Results ◽  
The Impact

This paper studies the role of publishing and patenting activities as predictors of new product development for a sample of companies in the U.S. pharmaceutical industry. The research also examines the relation between new product development and firm performance. Hypotheses are developed based on the well-established absorptive capacity literature. The results show that publishing scientific articles and stock of patents are both significant predictors of the number of new molecular entities (NMEs) for which a firm receives approval. In addition, the degree to which a firm builds on its own technology (measured as self-citations in its patents) also predicts NMEs, but the regression coefficient had an unexpected negative sign. Finally, the performance results confirm that the approval of NMEs is significantly associated with the market-to-book ratio of a firm. The managerial implications of these findings and study limitations are also discussed.

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