Abstract of impact of new product development on organisational performance
Here is an abstract on the impact of new product development on organisational performance:
Title: The Impact of New Product Development on Organisational Performance: A Review of the Literature
Abstract:
New product development (NPD) is a critical component of a company's strategy to stay competitive and achieve long-term success. The success of NPD can have a significant impact on an organisation's performance, including its financial, operational, and strategic outcomes. This review of the literature examines the relationship between NPD and organisational performance, with a focus on the factors that influence this relationship.
The findings suggest that NPD can have a positive impact on organisational performance, including increased revenue, market share, and profitability. NPD can also lead to improved operational efficiency, reduced costs, and enhanced competitiveness. Additionally, NPD can contribute to the development of new skills and capabilities within the organisation, which can have long-term benefits for the company.
However, the literature also highlights the challenges and risks associated with NPD, including the need for significant investments in resources, the potential for failure, and the need for effective project management. The success of NPD is also dependent on various organisational factors, such as the presence of a clear innovation strategy, the availability of necessary resources, and the involvement of employees at all levels of the organisation.
Overall, the literature suggests that NPD can have a significant impact on organisational performance, but it is essential to manage the NPD process effectively and to have a clear understanding of the factors that influence its success.
Keywords: New product development, organisational performance, innovation, strategy, project management.
References:
- Cooper, R. G. (2001). Winning at new products: Accelerating the process from idea to launch. Perseus Books.
- Griffin, A. (1997). PDMA research on new product development practices: Updating the results. Journal of Product Innovation Management, 14(1), 3-23.
- Ulrich, K. T., & Eppinger, S. D. (2015). Product design and development. McGraw-Hill Education.
- Veryzer, R. W. (1998). Discontinuous innovation and the incumbency advantage. Journal of Product Innovation Management, 15(2), 147-162.
Note: This abstract is a summary of the main points and findings of a review of the literature on the impact of new product development on organisational performance. It is not a comprehensive review of the literature, but rather a brief overview of the main themes and findings.