New product development

New product development is one of the riskiest, yet most important activities that a company can undertake. For this reason, there is significant interest and research on how companies can improve their chances of success in NPD.

  • Critically evaluate the new product development practice of your own organisation or any other organisation with which you are familiar. If do not have access to a workplace choose a product you are aware of that has either been a success or a failure and use secondary research to provide necessary information.
  • Draw on the literature you have been studying on the new product development models and factors for success in New product development to help you develop a framework with which to analyse your chosen organisation in detail.
  • As well as making your own observations, conduct at least 3 interviews with a range of relevant parties such a customers, suppliers and/or company employees.
    • These interviews are aimed at further developing your understanding of this organisation’s NPD practices and providing multiple perspectives on key issues and concerns. The findings from your interviews will help you to support your arguments and justify your recommendations.
    • Please include details of the people you interview, the questions asked and a summary of your findings in an appendix.
    • Note: if you do not have access to an organisation to conduct interview discuss a modfication to this assessment with your lecturer.
  • Give a detailed analysis of the organisation’s new product development practice and make recommendations for potential improvements in this practice.
  • In the final 500 words of this assignment, reflect on how your understanding of New product development  has been enhanced by your experience in completing this task. This should be a personal reflection including such aspects as, for example, whether this has changed your views about what is important in NPD, whether you have a greater understanding of diversity of opinions in the organisation, whether you understand this organisation’s NPD processes differently as a result of undertaking this work or any personal impact doing this assignment has had on you.

 

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