A strategic reference model for new product development Online publication date: Sun, 02-Dec-2007
by Y.H. Li, W.B. Lee, Dawei Lu
International Journal of Enterprise Network Management (IJENM), Vol. 2, No. 1, 2008
Abstract: New Product Development (NPD) is a core function of any manufacturer facing competition. However, there is a significant amount of uncertainty involved. Managers think that there is not any systematic approach required because there are too many uncertainties present in the process. However, if there was a process, which could identify the trends and driving forces, possible futures could be envisaged and virtually experienced. A Strategic Reference Model (SRM) has recently been developed. This model is divided into four building blocks: Idea Generation Block (IGB), Strategy Formulation Block (SFB), Strategy Determination Block (SDB) and Learning Support Block (LSB). Integrated Definition (IDEF0) is used as the key modelling technique of the SRM. The feasibility of the SRM has been verified through practical application. When walking through the eight-step process, managers in the organisation are provided with a continuous learning experience, which simulates their thinking and results in the further enhancement of future products.
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Enterprise Network Management (IJENM):
Login with your Inderscience username and password:
Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.
If you still need assistance, please email subs@inderscience.com