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

Dennis McKeag

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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.
    Original languageEnglish
    Pages (from-to)1-6
    JournalProceedings of the 2011 New Zealand Rapid Product Development Conference
    Volume1
    Publication statusPublished - 7 Feb 2011

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    Keywords

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

    Cite this

    McKeag, D. (2011). Developing a template for optimizing return on investment in product and process innovation. Proceedings of the 2011 New Zealand Rapid Product Development Conference, 1, 1-6.