Turning innovation into profit

✍ Scribed by Paul Millier; Roger Palmer

• Book ID: 102425924
• Publisher: John Wiley and Sons
• Year: 2001
• Tongue: English
• Weight: 96 KB
• Volume: 10
• Category: Article
• ISSN: 1086-1718
• DOI: 10.1002/jsc.531

✦ Synopsis

Abstract

The generic ‘stage and gate process’ is popularly accepted as a means for managing new product development. It advocates that a development project is divided into a series of pre‐defined decision steps in order to balance investment against perceived market risk and return.

Its use implies a number of assumptions — first that the product can be characterized as having features and customers benefits; and second that the market for such a product is identifiable.

This paper describes a process to assist decision making where these two assumptions do not apply. It provides suggestions to assist in the management and development of innovation and new technology, advocating that a marketing‐based perspective of supply‐led innovation is adopted.

Copyright © 2001 John Wiley & Sons, Ltd.