PRODUCT DEVELOPMENT AS A STRATEGIC MANAGEMENT TOOL

ABSTRACT
Numerous types of management tools can be applied to innovation management -conceptual and mathematical models, frameworks, checklists, benchmarking tool and specific techniques and methodologies. This paper reviews a variety of such tools, examines their take-up by and usefulness to industry and speculates on their relevance and applicability in complex product system industries. The development of many of the tools has been informed by the large body of research into the success and failure of innovation, much of which has been based on studies of mass produced consumer products rather than the one-off, customised or small batch-produced industry-to-industry products that characterise CPS production. As a result, many of the innovation management tools are likely to be of limited use to CPS innovation. Areas where tools may be of assistance in CPS firms include technology acquisition and risk assessment, project management and, given the increased importance of embedded software in CPS, software management tools.
TABLE OF CONTENTS Title Pagei Dedication ii Acknowledgement iii Abstract iv Table of Contentv
CHAPTER ONEvi Introduction 1 Generating Ideas6 Evaluating and Screening Product Ideas7 Protecting your Ideas7 Finalizing design research and development8 Example of Product Development13
CHAPTER TWO Product Development Strategy14 Product Development Diversification Strategy14 Product Modification Strategy15 Revolutionary Product Development15 Benchmarking the Process15 Consumer Front and Center16
CHAPTER THREE Developing Successful Strategies 18 What are the criteria for Developing a good strategy19 When should you develop strategies for your Initiative21 How do you develop strategies 22 Example: The Strategies of the RTR Coalition27
CHAPTER FOUR Product Development as a Strategic Management Tool30 Steering Committees32  Conclusion35 References37