Get 2 days of premium access
Class Notes (1,000,000)
US (430,000)
Rutgers (10,000)
43:20:00 (100)
Lecture 10

33:620:301 Lecture Notes - Lecture 10: Emo, Civil Rights Act Of 1964, Pregnancy Discrimination Act


Department
Management and Global Business
Course Code
33:620:301
Professor
Introto Management( Dennis Hamilton)
Lecture
10

This preview shows pages 1-3. to view the full 39 pages of the document.
8 managing innovation
frog
– global design firm;
frog engaged in 3 kinds of activities
Evolving”: reinvigorating a company’s existing assets
Expanding”: identifying new products and services for existing and new markets
Envision”: rethinking the brand
frog’s approach emphasizes reaching customers at a deep, emotional level
frog’s process is organized in 3 phases
Discover: significant research
Design: transforms intangible inspirations to tangible solutions
Deliver: refines and documents the chosen solutions
INNOVATION
New Product Development Process (NPDP) 3 goals
1. Maximize product’s fit with customer requirements
2. Minimize development cycle time: relates to cost of development and the decreasing length of
product life cycles
1. Why companies fail to do this
a. No clear sense of what customers value most so overinvest in wrong features
b. Overestimate customer willingness to pay for features so stuff product with
unwanted features, too expensive
c. Cannot resolve heterogeneity in customer demands so compromise too much, not
attractive to anyone
3. Control development costs
Invention or creativity is the generation of a novel and a useful idea

Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

Innovation: implementing those novel and useful ideas to some new device or process; combining creative ideas
with resources and expertise
INNOVATION STRATEGY
How firms manage innovation
Innovation Strategy: with innovation clearly part of business strategy
Organizing for innovation; rather than for keeping the old machine going
Managing day to day processes; to support new product development
Innovation Strategy Options
1. First to Market: innovation culture, able to create and then dominate market against fast
followers
2. Fast Follower: firm must be very good with innovation and have strong R&D
3. Niche: focus on specific niche market, requires close connection to customers
4. Reactive: firms that are followers and have a focus on operations, have a wait-and-see approach
and look for low risk opportunities, will copy proven innovation
0
5
10
15
20
25
30
35
40
First to
Market
Fast
Follower
Niche
Strategy
Reactive
1995
2003
SEQUENTIAL VS. PARTLY PARALLEL DEVELOPMENT PROCESSES
Sequential development process: when companies proceeded from one development stage to another
Partly parallel development process (simultaneous engineering): some or all of the development activities at
least partially overlap; to shorten development cycle time and increase coordination among functions such as R&D,
marketing, and manufacturing
PROJECT CHAMPIONS
Project champions help ensure a project’s momentum and improve its access to key resources
Use of champions also has its risks: escalating commitment and unwillingness of others in the organization to
challenge the project
INVOLVING CUSTOMERS AND SUPPLIERS IN DEVELOPMENT PROCESS
Involving Customers
Involving customers help ensure that new products match costumer expectations

Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

Lead users: customers who face the same general needs of the marketplace but are likely to experience them
months or years earlier than the rest of the market and stand to benefit disproportionately from solutions to those
needs
Involving Suppliers
Involve suppliers to minimize input cost of new product design and improve likelihood that inputs are of appropriate
quality and arrive on time
Crowdsourcing (open innovation): a distributed problem-solving model whereby a design problem or production
task is presented to a group of people who voluntarily contribute their ideas and effort in exchange for compensation,
intrinsic rewards, or a combination
TOOLS FOR IMPROVING NEW PRODUCT DEVELOPMENT PROCESS
Five-Stage, Five-Gate Process
Go/kill decision points: help filter out bad projects
Quality Function Deployment (QFD)- the House of Quality:
to improve the development team’s understanding of the relationship between customer requirements and
engineering attributes.
To improve communication between various functions involved in the development process
What does House of Quality do for a firm?
Provide common language, common framework for project team
Clarifies relations between product attributes and customer requirements
Focuses on design trade-offs
Highlights competitive short comings of existing products
You're Reading a Preview

Unlock to view full version