Reflection on Models, Concepts, or Frameworks Relevance to NPD Management - Essay Example

Name: Tutor: Course: Date: Products and services-Reflective report Description of concepts learnt in the units New product development is invaluable for any organization that looks forward to remaining competitive and maintaining a competitive advantage over its rivals. The concepts, framework, models and practices that I have learnt in this course in regard to new product development will help me to understand what makes some companies perform better than others and therefore be a better manager when the chance comes. In the whole process of new product development, I am particularly fascinated with the concept of idea generation. This concept in new product development in many organizations has not been taken seriously. Suggestions by the top management have been assumed to be ideas generated for new product development without involving members’ and experts’ views. Talented individuals have not been given the opportunity to participate in brainstorming sessions meant to develop new ideas for the organization. New product development concept in any organization is crucial since it determines the quality and the sophistication of the products offered by an organization. An organization or company has to continuously seek to improve its services and products in order to retain customers and win others. Secondly, it shows how superior a company is in terms of preparedness and innovation capability. New product development is a multi-functional and cross-functional process that involves inputs from operational, production, finance, engineering, and Human resource functions in an organization. These functions have a role to play in the process of idea generation. In the creation of new product the different functions in the organization have to be given an opportunity to give their view since they will be involved in one way or another in the creation and marketing of the new product. The success of the new product development depends on all departments within the organization. Reputable corporations like Apple Inc. have been able to survive and meet customers’ expectations owing to a clear guideline when it to new product development and encouraging innovativeness. I have come to realize that new product development can take many forms and it is not necessarily entrants of totally new products into the market. After-sales service, promoted image, improved availability, application advice and performance capabilities can in one way or another consist of a new product development. They give new life to an existing service or product and thus making it perform better in terms of profitability and market share. The whole concept of new product development is the backbone that makes most organizations to survive despite increased competition. Competitors are ready and willing to learn the secrets of their rivals and take advantage of any mistakes. I have understood that regardless of how good a product is in the market, it will reach a point of saturations where it will experience stagnation in growth and low profitability. At this point, something has to be done. It is important to revive the product through improvement or withdraw it from the market and introduce another one that will excite customers with its features or attributes. Besides, the product can be repositioned in the same market. It dawned on me that differentiation which is done to extend a product line is an important form of new product development. The previous product can continue performing well because of different flavor, attractive packaging, improved performance, or additional features. The management in charge of new product development has to always remain alert and run incubators or research centers that will assist in development of new ideas for new product development. I came to realize that repositioning the product in terms of how it is perceived or what it offers may also give the product new life in the market. Idea generation is a crucial stage that can nevertheless be ignored by many organizations. There are factors which I realized are very important in driving the process of new product development. The factors include fragmentations of markets, increased international competition, and rapidly changing technology. It is important to realize the impact of these factors on the capacity to be innovative. It is the idea generated that is developed into a product concept. Idea generation and screening are essential processes that need to be incorporated in the new product development process. Ideas have to be generated but followed up to determine the ones that can be implemented and developed into new products. New product development can fail if the process of idea generation is not well addressed. Ideas are generated from different quarters within the organization. These ideas are then collected by the venture team into a database to await the crucial stage of screening. Screening of ideas considers competencies, objectives, strategies and constraints in terms of available resources. An idea can be very good but impractical to implement owing to the limitations of resources available in the organization. The ideas are then ranked using the screening criteria to see which ones should be prioritized when it comes to implementation. Enough time has to be spent on idea generations. Organizations like where I work may not see the idea generation as important but it is crucial precedent to new product development. 2. Reflection on models, concepts or frameworks relevance to NPD management. I consider Idea generation as a very important concept which is often overlooked by many organizations including the one which I work for. Implementations of new concepts that consist of new product development have to go through idea screening to select the best ideas that need to be implemented. Teamwork is important in idea generation. When experts work together to come up with something, they are bound to develop superior new product designs. A new product cannot be developed without ideas being generated in the first place. Every new product or product line is conceived after ideas are put together and developed into something tangible. Despite the members of the organization being given a chance to give their views on new products to be developed, divergent views should not allowed to derail the plan for new product development in the organization. It is important to have the venture teams that are responsible for coming up with new ideas. However, new ideas from other quarters of the organization should not be ignored. In the process of idea generation, the venture team has to reach out to the rest of the organization instead of exclusively developing the ideas themselves. Not everything that is suggested can be implemented and hence the ideas have to go through processes that will reduce them to manageable levels. The process of new product development does not have to be done haphazardly. The company’s resources will be lost in case an idea that cannot work is recommended for development into a new product. The idea screening process is important in eliminating those ideas that seem less viable to be implemented. Generations of substantial ideas is important and healthy for the organization since it encourages innovation. However, if the company pursues to develop several ideas that are not clear in terms of their feasibility, it can incur losses with no chances of recovering at all. Idea screening has to follow idea generation before models or concepts of the product are developed. The success of the process of new product development depends on the ideas generated and how the development team arrives at the best idea that is developed into a product concept. Screening, ranking and prioritizing of ideas is important in new product development. I consider screening as very crucial since it limits the resources of the organization only to be used on ideas that are viable. It is only attractive ideas that need to be developed into new products. The resources of the company have to be considered in the idea generation stage. Otherwise many lofty ideas can be suggested but they cannot go past the idea screening since they are impractical. The both the asset capital and the human resource capital are considered in new product development. Idea screening and idea generation cannot be ignored since they are at the foundation of new product development. Great products have been developed from great ideas. Product concepts cannot exist without idea generation. These concepts are important in the process of new product development. Understanding the limitations of ideas generated is important in new product development. Mistakes have to be rectified as early as they are detected. Recommendations to a manager responsible for leading the new product development The managers in charge of new product development have to engage all members of the organization when it comes to new product development. In many occasions in our organization, idea generation has not involved the input of the all the members of the organization. In case of change in service delivery, junior members are only notified of the changes without involving them of the discussion on the consequences anticipated. The brainstorming process can be used effectively to give an opportunity to members to suggest ideas which are then screened to determine their viability. The management has to take seriously the issue of consulting widely before implementation of any new service. I suggest that there should be centers where members of the organization can give their views on what has to be improved in regard to services and products of the company. Soliciting ideas from members of the organization make them feel as part of the important team or make them develop a sense of belonging. Members of the organization will embrace a new product or service when they are fully aware of its development or they participated in its development. The budget for research and development has to be allocated substantial funds in order to encourage continuous research and innovation. Many organizations maintain a thin budget for research and development. Strategic business units have to be maintained for the purpose of new product development. Continuous research and development can result into creation of products or services that the organization needs to improve its profitability. Making new product development a team-based activity increases efficient of innovations. Venture teams which are involved in searching for new ideas should not be forgotten. The organization has to do its best to make sure such teams are supported. Ideas can be generated if there is an ideal environment within the organization that supports idea generation. Ideas given by members should not be ignored before they are screened to determine their practicability. Models have to be screened and ranked in order to identify the one which is viable and practical to develop into a product concept. Product profiling cannot be ignored when the best idea has to be chosen. Several ideas can be viable but the management has to go with the best idea that will generate the highest returns after the production and marketing costs have been subtracted. The process of new product development has to involve everyone in the organization in one way or another so that members feel that they are part of the idea. Concept definition cannot happen before idea generation and idea screening. The manager has to treat every stage of new product development important and not assume anything. Problems experienced in the first stages are likely to be replicated in the subsequent stages and therefore there is need to eliminate them before they become enormous. The stages involved in the new product development are interrelated and one mistake can be transmitted to the final stage if it is not detected in the early stages. Idea generation has to be an ongoing process that has to be encouraged in the organization. Existing products have to be improved and that can only be done if the managers constitute a team of experts that spearhead idea generation through venture teams. Collection of ideas should not be skewed or biased in order to get the best idea to be developed into a product concept. The success of the process of new product development depends on what is done at every stage of the constitute stages. Read More