Strategic Management of Technology Innovation - Chapter 11 Questions and Answers Solved Correctly

Skullcandy: Developing Extreme Headphones - The biggest challenge associated with new product development has been managing three different development cycles simultaneously. Requirements for new product development to be successful - (1) maximizing the product's fit with customer requirements, (2) minimizing the development cycle time, and (3) controlling development costs. Development Cycle Time - The time elapsed from project initiation to product launch, usually measured in months or years. The Development of Zantac - "Having all your eggs in one basket concentrates the mind because you had better make sure it is a good basket." Partly Parallel Development Process - A development process in which some (or all) of the development activities at least partially overlap. That is, if activity A would precede activity B in a partly parallel development process, activity B might commence before activity A is completed. Concurrent Engineering - A design method in which stages of product development (e.g., concept development, product design, and process design) and planning for later stages of the product lifecycle (e.g., maintenance, disposal, and recycling) occur simultaneously. Five Myths about Product Champions - (1) Projects with champions are more likely to be successful in the market. (2) Champions get involved because they are excited about the project, rather than from self-interest. (3) Champions are more likely to be involved with radical innovation projects. (4) Champions are more likely to be from high (or low) levels in the organization. (5) Champions are more likely to be from marketing. Beta Testing - Get customer input early in the development process. An early working prototype of a product released to users for testing and feedback.Lead Users - Customers who face the same general needs of the marketplace but are likely to experience them months or years earlier than the rest of the market and stand to benefit disproportionately from solutions to those needs.