DOI: 10.5176/2251-3701_2.2.67
Authors: Asiya Kazmi and Marja Naarananoja
Abstract:
Reality remarks that the companies are not remote from their environments; their new product development (NPD) strategy is altered by several factors. These can either be inherent from the company´s external environment such as Industry market, Government policy, competitors or the internal environment which relate to the company strategy, organization, culture etc. Innovation is the core activity that guaranties a sustainable place in the market for research and development companies nowadays. Developing new or enhancing previous products capability and features are among innovation’s forms that allow companies to diversify their portfolios and respond to their customers’ needs. Numerous theoretical and empirical studies are trying to delineate the most critical success factors for the NPD activity and establish a pattern that would be suitable to reflect the NPD requirements and constraints to achieve better performances. The literature dealt with the performance of NPD activity and tried, in that sense, to come up with a framework of metrics in order to quantify the NPD performances. Taking into consideration the above mentioned success factors, the conclusion confirmed that the most suitable NPD configuration can be established on a case-to-case basis.
Keywords: Innovation, New Product Development, Environmental contingencies
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