scholarly journals The impact of information management in developing new products in bank – an empirical analysis

2021 ◽  
Vol 54 (3-4) ◽  
pp. 197-206
Author(s):  
Zoran Najdanović ◽  
Natalia Tutek
Keyword(s):  
Product Development ◽  
Information Management ◽  
New Product Development ◽  
New Products ◽  
New Product ◽  
Business Decisions ◽  
Customer Preferences ◽  
The Right ◽  
The Impact

Successful information management is big challenge for any organization. In this paper the emphasis is on information management in new product development in bank. Under strong pressure from competition and new technological changes, as well as the turbulent changes in the environment, financial institutions must continuously develop new products and services. In order to make the services more interesting to the users, it is necessary to collect data about the users, their wishes and preferences. The data should then be converted into useful information that will result with developing the right product or service that users will recognize as necessary. Products become personalized, user-friendly, and the emphasis is on the importance of long-term company relationships with customers. Only with well-organized information, managers can make the right business decisions and companies can react in time to market changes. When creating their strategy, successful companies analyze and identify elements that significantly contribute to creating a competitive advantage and ensuring long-term growth and development. The paper presents an empirical research of customer preferences which lead to new product development in bank.

Between flexibility and discipline in new product development: expertise as a boundary condition

2019 ◽  
Vol 37 (1) ◽  
pp. 33-49 ◽  
Author(s):  
Daniel Robey ◽  
Karl Hellman ◽  
Isabelle Monlouis ◽  
Kenneth Nations ◽  
Wesley J. Johnston
Keyword(s):  
Product Development ◽  
New Product Development ◽  
New Product ◽  
Market Definition ◽  
Content Type ◽  
Team Members ◽  
Award Winning ◽  
The Right ◽  
Cross Case Analysis ◽  
The Impact

Purpose The purpose of this paper is to study two aspects of new product development (NPD) success – the impact of learning and the impact of structure – are studied. Design/methodology/approach A multiple case study method within a single setting consisting of in-depth interviews of two teams that developed successful, award-winning products and two teams that developed unsuccessful products. Findings Case 1: flexibility and expertise permitted learning and radical redefinition of the product mid-project and commercial success. Case 2: flexibility enabled adding expertise which was instrumental in success, iterating permitted optimizing pricing. Case 3: flexibility led to focusing on technical issues to the exclusion of commercial viability. Case 4: flexibility led to skipping market definition and partnering with a particular customer whose situation was idiosyncratic. Cross-case analysis: flexibility in teams with both technical and commercial expertise yielded success. Flexibility permitted teams consisting of narrow experts to invest development resources in products with insufficient market. Research limitations/implications This paper argues that the right balance between structure and flexibility is dependent on the level of expertise of the members of the NPD project teams. However, getting this balance right is not a sufficient condition for NPD success. The cases were theoretically blocked to develop theoretical insight, but additional cases are needed for a strong test of theory. Practical implications The more experienced team members are, the more the project benefits from flexibility. Conversely, an inexperienced team will benefit from a more structured process. Projects require iteration. The dichotomy between structure and flexibility is false: the most expert teams benefit from some structure. The most inexperienced teams must employ flexibility to learn. Originality/value The analysis combines the virtues of the stage-gate school and the flexibility school previously thought mutually exclusive.

The Impact of Organizational Memory on New Product Performance and Creativity

1997 ◽  
Vol 34 (1) ◽  
pp. 91-106 ◽  
Author(s):  
Christine Moorman ◽  
Anne S. Miner
Keyword(s):  
Product Development ◽  
Financial Performance ◽  
New Product Development ◽  
New Products ◽  
New Product ◽  
Organizational Memory ◽  
Environmental Turbulence ◽  
Short Term ◽  
Four Dimensions ◽  
The Impact

Arguing that organizational memory affects key new product development processes by influencing the (1) interpretation of incoming information and (2) the performance of new product action routines, the authors introduce four dimensions of organizational memory, including the amount and dispersion of memory. Data from 92 new product development projects indicate that higher organizational memory levels enhance the short-term financial performance of new products, whereas greater memory dispersion increases both the performance and creativity of new products. They also find, however, that under some conditions of high environmental turbulence, high memory dispersion actually detracts from creativity and has no effect on financial performance. Under conditions of low turbulence, high memory dispersion promotes higher levels of creativity and short-term financial performance. These findings provide some initial evidence that knowledge is not an unconditionally positive asset and suggest that developing and sustaining valuable organizational memory may require attention not only to the appropriate levels of memory but also to managing subtle aspects of memory dispersion and deployment. These results imply that if organizations fail to understand the subtle ways in which different features of organizational memory influence product development, they may fail to harvest the full value of organizational learning.

Method Application in New Product Development and the Impact on Product Success

2015 ◽  
Vol 12 (04) ◽  
pp. 1550019 ◽  
Author(s):  
Marc Graner ◽  
Magdalena Mißler-Behr
Keyword(s):  
Product Development ◽  
New Product Development ◽  
New Products ◽  
New Product ◽  
Development Projects ◽  
Success Rates ◽  
Large Sample ◽  
Product Success ◽  
Successful Outcomes ◽  
The Impact

The purpose of this paper is to analyze the use of methods in new product development and their impact on product success. Based on a large sample totaling 410 development projects, we show which methods are used with the greatest frequency. For each method, we also highlight the differences in application between particularly successful and unsuccessful product development projects. Additionally, we identify methods whose adoption correlates strongly with the success of the developed product. Further, we examine which combinations of methods promise to deliver the most successful outcomes, thus showing how the success rates for new products can be improved systematically.

scholarly journals A Conceptual Analysis on the Different Approaches to New Product Development and the Variables Associated With Modelling the Process

2018 ◽  
pp. 1-23
Author(s):  
Jonathan D. Owens ◽  
Andrew M. Atherton
Keyword(s):  
Economic Growth ◽  
Product Development ◽  
New Product Development ◽  
New Technologies ◽  
New Products ◽  
New Product ◽  
Time To Market ◽  
Development Cycle ◽  
To Receive

Globally, new products are launched daily. They provide answers to common or specialised problems, enrich lifestyles, provide alternatives to old solutions, amuse us etc. Companies that develop, design, manufacture, market and sell these products seek commercial compensation in the short, medium or long term “success”, however you measure it. Subsequently, New Product Development is a major issue for most companies as they seek to reduce time to market, reduce the development cycle, access new technologies and develop more and better products and services. New products that can successfully compete in local, national and global markets are a key concern for the majority of companies, so successful NPD is fundamental to both stimulating and supporting economic growth. It is a subject, which has received and continues to receive much attention, particularly in seeking to improve its effectiveness and efficiency. This chapter reviews the NPD process and considers the variables associated with the different approaches, which may be needed when developing a new product.

Entrepreneurial Bricolage and New Product Development Performance in New Ventures: The Contingent Effects of Founding Team Involvement

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Xinchun Wang ◽  
Xiaoyu Yu ◽  
Xiaotong Meng
Keyword(s):  
Product Development ◽  
New Product Development ◽  
Resource Constraints ◽  
New Ventures ◽  
New Products ◽  
New Product ◽  
Strategic Decision ◽  
Entrepreneurial Bricolage ◽  
Founding Team ◽  
Npd Performance

Abstract New product development (NPD) performance is a key determinant of a new venture’s success. However, compared with established firms, new ventures often suffer from resource constraints when developing new products. Entrepreneurial bricolage is reported in the literature as an alternative strategic option that enables managers to overcome resource constraints when developing new products. However, because new ventures are often founded by an entrepreneurial team, the effectiveness and efficiency of using bricolage to improve NPD performance might be contingent on how the founding team plays its roles in this process. Using data from 323 new ventures in China, we find support for the critical role of entrepreneurial bricolage in improving NPD success under resource constraints. More importantly, our results reveal that the bricolage strategy is more likely to benefit a venture when the founding team is composed of members with diverse functional backgrounds and is not heavily involved in strategic decision-making.

Cultivating product innovation performance through creativity: the impact of organizational agility and flexibility under technological turbulence

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Wilert Puriwat ◽  
Danupol Hoonsopon
Keyword(s):  
Product Development ◽  
New Product Development ◽  
Product Innovation ◽  
New Product ◽  
Innovation Performance ◽  
Incremental Innovation ◽  
Organizational Agility ◽  
Content Type ◽  
Technological Turbulence ◽  
The Impact

PurposeThis study is to compare the impact of organizational agility and flexibility on performance of each type of product innovation (radical vs incremental innovation). Additionally, the moderating effect of technological turbulence on the relationship between the two types of organization is examined.Design/methodology/approachBased on gaps in the existing literature, the survey data are collected from managers who are in charge of developing new products in three industries: food and beverage, chemical and machinery (N = 431). Confirmatory factory analysis is used to verify measurement items and regression analysis is used to test hypotheses.FindingsThe results show that organizational agility increases performance in radical innovation both in a certain situation and an environment with technological turbulence. In contrast, the impact of organizational flexibility is limited to increasing performance in both radical and incremental innovation performance in a certain situation.Originality/valueOur study extends the knowledge of organizational agility and flexibility in the domain of product innovation. Adaptation of organization to respond the technological turbulence will stimulate creativity of new product development teams to produce new useful ideas and transform these ideas to product innovation. The different types of organizing a new product development team to handle technological turbulence will provide different results in product innovation performance. In addition, the findings provide a recommendation on how the organization of a new product development team can improve performance in each type of product innovation under technological turbulence.

scholarly journals A multi-dimensional approach for managing open innovation in NPD

2017 ◽  
Vol 37 (10) ◽  
pp. 1366-1385 ◽  
Author(s):  
Hanna Bahemia ◽  
Brian Squire ◽  
Paul Cousins
Keyword(s):  
Product Development ◽  
Competitive Advantage ◽  
New Product Development ◽  
New Product ◽  
Three Dimensions ◽  
Longitudinal Impact ◽  
Product Innovativeness ◽  
Content Type ◽  
The Impact ◽  
Positive Effect

Purpose This paper explores openness within new product development (NPD) projects. The purpose of this paper is to examine the impact of breadth, depth and partner newness on product innovativeness and product competitive advantage. The authors also seek to examine the contingent effects of the appropriability regime. The authors make suggestions to academics and practitioners based on the findings. Design/methodology/approach The authors use a structured survey instrument producing an empirical analysis of 205 NPD projects in the manufacturing sector in the UK. The authors use an ordinary least squares regression model to test hypothesised relationships between openness (breadth, depth and partner newness), product innovativeness, product competitive advantage and the appropriability regime. Findings The authors find that each of the three dimensions of openness, depth, breadth and partner newness, have a significant but differing impact on product innovativeness. Specifically, the study indicates that breadth has a positive effect but only in the presence of a strong appropriability regime, partner newness has a direct positive effect, and depth a direct negative effect. The authors also find that product innovativeness has a positive impact on product competitive advantage. Research limitations/implications Further research should focus on replicating the findings in other countries, search for further moderating factors, such as the stage of the NPD process, and analyse the longitudinal impact of openness within NPD projects. Practical implications Organisations are encouraging managers to be more open in their approach to NPD. The authors’ findings suggest that managers need to think about the three dimensions of openness, breadth, depth and partner newness. Their engagement with each of these dimensions depends on the desired outcomes of the innovation project and the strength of patents. Originality/value The research extends the extant supplier involvement in new product development literature to examine the effect of up to 11 types of external actor in NPD projects. The authors test a new multi-dimensional measurement scale for the openness construct. The authors show that each dimension has a different relationship with product innovativeness.

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