33:620:302 Lecture Notes - Lecture 17: Observability, Product Differentiation, Macbook Pro

• School: Rutgers University
• Department: Management and Global Business
• Course: 33:620:302
• Professor: B Sexton

Document Summary

Innovation: introducing new useful ideas into new value creating products: new and useful ideas and resources = value creating products. Invention or creativity: introduction of a novel and useful idea. Innovation is the act of implementing these ideas to create value. Creativity leads to innovation: the ability to produce work that is useful and novel. Inventors, users, research development, collaboration, motivated workers, environment. Managing innovation: create new capabilities to support and enable the product development teams, create drive and long term focus, expect innovation. Lengthy development time: risk averse corporate culture, uncertainty of outcomes, rapidly changing technology, changing customer needs, aggressive global competitors. Slow: partly parallel npd: some overlap in changes. Faster: control development, high roic, stage-gate process for product development: each stage includes deliverables, criteria, and outputs, each gate decision: go, kill, hold, or recycle, strong management, emphasizes market assessments, emphasizes pre-development assessment, timing strategies, first to market.