Article Review Managing the New Product Development process: Strategic Imperatives Aditi Rana Ankita Khaniya Ashish Silwal Sujal Dhungana
Managing Operations and Technology, MBA Term II Arjun Shrestha February 24, 2013
Background: Published by “Academy of Management”, Melissa A. Schilling and Charles W. L. Hill have co-authored the article is “Managing the New Product Development process: Strategic Imperatives”. This article has been extracted from “The Academy of Management Executive (1993-2005), Vol. 12, No. 3 (Aug., 1998), pp. 67-81”. “Managing the new product development process: Strategic imperatives” explores into the new product development (NPD) process and the strategies involved with it. Unprecedented importance goes into the study and implementation of the NPD process by various departments of businesses, and it has become a key driver of competition between firms in majority of industries. Researchers have tried to conclude on strategies that could be key to enhance the NPD process. Two major factors have been found to go into consideration for the creation of those strategies: maximizing the fit of products/services with customer needs, and, minimizing the lead-time to the market. Although it may appear that these two factors might create conflicting mandates in a business; researchers have increasingly found indications that businesses may employ certain types of strategic processes to optimize their NPD process. Purpose of the article: The purpose of this article is to assess the previous research on managing NPD process and come out with various strategic imperatives to improve the management of new product development. The main objective of the article it to guide managers in identifying opportunities for improving their NPD process and also provide a perceptual map for scholars to identify fruitful...
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