Product Innovation

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Success factors in Product Innovation

Success Factors in Product Innovation: The Case Study of Savola by: Salma Nader Abbass Hussein

Bachelor Thesis Submitted to the Innovation management department at the Faculty of Management and Technology German University in Cairo

Student registration number: 7-4445 Date: 8-6-2009 Supervisor: Dr. Hadya Hamdy

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Success factors in Product Innovation

Abstract
We are living in a world that customers are becoming increasingly sophisticated and demanding, technology is becoming more and more advanced, and competition and globalization are becoming more and more intensive. Consequently, it is either to innovate or die. Product innovation is becoming a strong batter field and there is only one winner who achieves success. Achieving success in product innovation is a difficult and complex task and that’s why the focus of this paper is to assist managers and academic students to understand the successful factors in product innovation supported by practical and real life case study of Savola multinational Company so that companies can benefit from the experiences and apply it in their organizations. Professional interviews are conducted in order to obtain qualitative insights about Savola's success factors in product innovations and how the innovation department in Savola Company was a successful turning point. Many Multinational and international companies can benchmark Savola Company on its best practices and key success factors for product innovations.

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Success factors in Product Innovation

Table of Content:
1. 2. Introduction…………………………………………………………………………. Literature Review…………………………………………………………………… 2.1 Theoretical Consideration………………………………………………………. 2.1.1 The study and importance of innovation…………………………………… 2.1.2 Definition and importance of product innovation…………………………... 2.2 Success factors in product innovation…………………………………………... 2.2.1 Organizational factors………………………………………………………. 2.2.1.1 Organizational learning………………………………………………… 2.2.1.2 Organizational creativity…………………………….............................. 2.2.1.3 Strategy………………………………………………………………… 2.2.1.4 Structure………………………………………………………………... 2.2.1.5 Shared values…………………………………………………………... 2.2.1.6 Style……………………………………………………………………. 2.2.1.7 Project management……………………………………………………. 2.2.1.8 System……………………………………………….............................. 2.2.2 Human resource factors………………………………….............................. 2.2.2.1 Leadership……………………………………………………………… 2.2.2.2 Communication and benefits of cooperation…………………………... 2.2.2.3 Individual creativity……………………………………………………. 2.2.2.4 Skills………………………………………………………………….... 2.2.2.5 Staff…………………………………………………............................. 2.2.3 Marketing Factors ……………………………………….............................. 2.2.4 Managerial factors……………………………………….............................. 2.2.4.1 The role of senior management in product innovation………………… 2.2.4.2 Managing the new product development team………………………… 2.2.4.3 Research and development excellence………………………………… 3. Methodology………………………………………………………………………. 4. The case study of Savola Group…………………………………………………... 4.1 History and background of Savola Group……………………………………… 4.2 Savola's success factors in product innovation…………………………………. 4.2.1 Organizational factors………………………………………………………. 4.2.1.1 Organizational learning…………………………………………………. 4.2.1.2 Organizational creativity………………………………………………... 4.2.1.3 Shared ethics and values………………………………………………... 4.2.1.4 Style and culture………………………………………………………... 4.2.1.5 Project management…………………………………………………….. 4.2.1.6 System…………………………………………………………………... 4.2.1.7 Strategy…………………………………………………………………. 4.2.1.8 Structure………………………………………………………………… 4.2.2 Human resource factors ……………………………………………………. 4.2.2.1 Leadership……………………………………………………………… 4.2.2.2 Communication………………………………………………………… 4.2.2.3 Skills and staff…………………………………………………………. 4.2.2.4 Individual creativity……………………………………………………. 4.2.3 Marketing factors……………………………………………………………....
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