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Critical Review of Contemporary NPD Issues - Essay Example

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Critical Review of Contemporary NPD Issues

Both the research findings acknowledge that the scale of a company’s operations is irrelevant to the chances of favorable outcomes related to the application of innovation, as Laforet (2011) suggests that the innovative capabilities of small and medium enterprises are comparable to that of large organizations. Another finding asserts that ideation has paradoxical managerial impacts by presenting both negative and positive consequences of the said process in organizations. The scale of the company however, does impact the choices it makes related to innovation, for example, why would a business wish to expand its ideation and innovation capabilities in the first place? Certainly as represented by the findings of the articles which are assessed, it can be noted that large organizations in comparison with small and medium enterprises realize the need to create a strategic fit between their resource capacities and assets as a comprehension of their ideation capabilities is directly related to the distribution of resources which ultimately allows the formulation of an idea into an innovation. On the other hand, the objectives of a small or medium sized business in engaging in new product development maybe entirely associated with its objective of seeking success or to achieve short-term gain. Hence, the purpose of this paper is to critically analyze the competing ideologies of how New Product Development and Innovation should take place and how it actually takes place, which is either by entirely basing the framework of innovation at an organization upon the components of the ideation process or by engaging in an innovative practice by implementing system wide innovation procedures. Furthermore, the paper will also discuss the managerial implications of the articles’ findings by determining the variables and factors that are dependent upon the success of measures such as NPD, process improvement and ideation potential. Factors affecting innovation: According to Bjork et al. (2010) the foundation of innovation is idea generation or ideation which is dependent upon the level of creativity and inventiveness of the employees and groups within an organization. Once this principle is recognized by the management, it should try to develop channels through which employees can successfully voice their ideas, such channels can range from technology centered pathways or the utilization of teams that should range across functional departments of an organization. Cooper (2008) favors computer-based ideation techniques such as webpages which can allow external parties to supply ideas related to new products, such facilities are readily used by organizations such as Procter and Gamble which are at the forefront of an ideation revolution. Procter and Gamble’s Connect and Develop ideation model is an example of an open system that invites and welcomes idea stimulation from a range of contributors. Laforet (2011) presents a more traditional and conventional view of the factors that may influence innovation, this ...Show more

Summary

Critical Review of Contemporary NPD Issues Introduction: The articles authored by Bjork, Boccardelli and Magnusson (2010) and Laforet (2011) provide comparable and contrasting views on one of the primary aspects concerning the businesses and organizations of today, which encompasses key concepts such as New-Product Development (NPD), Ideation and Innovation, all of which are integral ingredients in the development of a dynamic outlook towards a business’s competitive advantage…
Author : marvinlayne
Critical Review of Contemporary NPD Issues essay example
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