Developing a template for optimizing return on investment in product and process innovation

Dennis McKeag

    Research output: Contribution to journalArticle

    Abstract

    Large organizations have the human, material and financial resources to undertake new product development (NPD) and innovation on a continuous basis. Skills, knowledge, technology and know-how can be purchased as required. Risks can be assessed on an on-going basis using (generally) the business approach to new product development. Small to medium sized enterprises face different challenges in new product development and innovation. Lacking the resources of the large corporations they need to be clever, selective and agile when allocating resources to NPD and innovation if they are to survive, grow and prosper in an increasingly competitive and global market. This paper provides an account of approaches and tactics currently employed by the author to assess competitiveness; it shows how plans are formulated to improve company competitiveness and how these plans are implemented.
    LanguageEnglish
    Pages1-6
    JournalProceedings of the 2011 New Zealand Rapid Product Development Conference
    Volume1
    Publication statusPublished - 7 Feb 2011

    Fingerprint

    Return on investment
    New product development
    Product and process innovation
    Template
    Product innovation
    Competitiveness
    Resources
    Competitive market
    Global market
    Financial resources
    Small to medium-sized enterprises
    Tactics

    Keywords

    • Creativity
    • product innovation
    • process innovation
    • policy
    • strategy. tactics
    • concurrent design
    • concurrent product development
    • concurrent engineering

    Cite this

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    abstract = "Large organizations have the human, material and financial resources to undertake new product development (NPD) and innovation on a continuous basis. Skills, knowledge, technology and know-how can be purchased as required. Risks can be assessed on an on-going basis using (generally) the business approach to new product development. Small to medium sized enterprises face different challenges in new product development and innovation. Lacking the resources of the large corporations they need to be clever, selective and agile when allocating resources to NPD and innovation if they are to survive, grow and prosper in an increasingly competitive and global market. This paper provides an account of approaches and tactics currently employed by the author to assess competitiveness; it shows how plans are formulated to improve company competitiveness and how these plans are implemented.",
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    note = "Reference text: A report to the Secretary of Commerce by The Advisory Committee on Measuring Innovation in the 21st Century Economy; January 2008. Innovation Measurement: Tracking the state of innovation in the American economy. Booz, Allen and Hamilton, 1982. New Products Management for the 1980’s; New York. BS 7000: 1989. Guide to managing product design, BSI Coates, S., Gosden, E. and O’Neill, S; 2009: 18-19. Call that a bargain? Recession summit to cost Britain £50m, The Times, Wednesday 11 March. Federal Reserve Bank of Dallas, 2010. Everyday Economics: Innovation, Technological Change and the Economy; http://www.dassasfed.org/educate/everyday/ev6.html. Downloaded on 23 Jan 2010. Ford, E., 2009: 53. How to be innovative in the workplace; The Times, Wednesday 11 March. Freeman, C, 1982. The Economics of Industrial Innovation, 2nd edition, London; Frances Pinter. Headings taken from a Ford Motor Company internal document in 1982 Kondratieff, Nikolai Dmyitriyevich. (1892-1938) The Kondratieff Theory, www.kwaves.com/kond_overview.htm; Downloaded 23 Jan 2010 Krauss, H, Bostian, C and Raab, F. 1980. Solid State Radio Engineering. New York: Wiley and Sons. Lund, H. 2002. Pedestrian environments and sense of community. Journal of Planning Education and Research 21:301-12. McKeag, D and McKnight, W. 2010. Analysis of how a grant aided industry/university collaborative project changed company culture and how they do business. Proceedings of the CINet Conference, Zurich, 6-8th September McKeag, D. & Clarke, R. B. 1989: 189-194. “A system for the efficient management of the Design/Development process”. Proceedings of The Institute of Mechanical Engineers. Volume 203. McKeag, D. 2009. How Engineering Education can contribute to a Revival from the Economic Downturn; Proceedings of the SEFI Annual Conference. O’Farrell, John, 2009. An Utterly Exasperated History of Modern Britain; Doubleday, ISBN 9780385616232 Purves, L. 2008: 24; We must train people to break the rules; The Times; Monday 18 August Rother, Mike and Shook, John, 1999. Learning to see: value stream mapping to add value and eliminate muda; Lean Enterprise Institute, June 1999; ISBN 0-9667843-0 Roy, Robin and Potter, Stephen; 1990. Design and the Economy; The Design Council, ISBN 0 85072 286 1 Schramm, C. J.,2006. Entrepreneurial Capitalism and the End of Bureaucracy: reforming the Mutual Dialogue of Risk Aversion; American Economic Association 2006 Meetings, Boston, Massachusetts, 6 January 2006. Schumpeter, Joseph. (1883-1950), Cycles Research Institute, www.cyclesresearchinstitute.org/schumpeter.html; Downloaded 23 Jan 2010 Sherman, Jim, 2010: 8. Small firms get raw deal, says Cameron; The Times, Monday 1 November USAID; PPC Issue Paper No. 13; December 2005; PN-ADE-081. On the process of growth and economic policy in developing countries; Usher, A.P., 1954 A History of Mechanical Inventions (revised edn), Cambridge MA, Harvard University Press Verbal report given by a consultant at a Project Steering Meeting on 15 October, 2010, held in the ICL Boardroom, Carlow, Ireland. Waymark, J 2003. Modern Garden Design: Innovation Since 1900. London: Thames and Hudson.",
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    Developing a template for optimizing return on investment in product and process innovation. / McKeag, Dennis.

    Vol. 1, 07.02.2011, p. 1-6.

    Research output: Contribution to journalArticle

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