New product development (NPD) professionals are keen to benchmark NPD practices because identifying any practice that is able to more efficiently and/or effectively deliver a fresh product could symbolize the difference between success and failure. A common objective is thus to identify NPD best practices with the expectation that firms will attest and confirm these to augment their NPD attempts.
The uniqueness of the framework lies in its capability to distinguish NPD practice across Strategy, Research, Commercialization, Process, Job Climate seven dimensions, Firm Culture, and Metrics/Performance Measurement. The framework is also exceptional in that across each measurement, inferior NPD practices are listed as a starting point from which to improve, alongside best practices to which businesses should aspire. An audit tool comes from the framework, suggesting fact-finding questions that practitioners can ask to assess their company's NPD efforts, to further help in continuous improvement.
PUBLICATION DATE: May 15, 2012 PRODUCT #: BH480-PDF-ENG
This is just an excerpt. This case is about STRATEGY & EXECUTION
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