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.
| Original language | English |
|---|---|
| Pages (from-to) | 1-24 |
| Number of pages | 24 |
| Journal | International Journal of Enterprise Network Management |
| Volume | 2 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - 2008 |
Keywords
- Strategic reference model
- New product development
- NPD
- Strategic planning
- IDEF0
- Idea generation
- Strategy formulation
- Strategy determination
- Learning support
ASJC Scopus subject areas
- Business and International Management
- Management of Technology and Innovation
- Management Science and Operations Research