Innovation Management in New Product Development
Summary
Innovation management in new product development (NPD) combines structured processes, strategic decision-making and ecosystem collaboration to translate ideas into marketable offerings. Classical stage-gate frameworks provide predefined phases and go/no-go decision points, while agile and iterative methods introduce flexibility to manage uncertainty. Attention has shifted to the front end of innovation, where idea generation, screening and rapid concept validation shape project portfolios. Open innovation practices extend in-house capabilities by engaging external partners and co-creation networks. Throughout the NPD lifecycle, firms balance exploratory and exploitative activities, employ risk-mitigation tools such as rapid validity testing and prototyping, and govern resource allocation to maximise commercial and societal impact.
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Innovation Management in New Product Development publication trend
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Technical terms
Front End of Innovation (FEI): The initial exploratory phase of NPD encompassing idea generation, concept evaluation and early validation activities.
Stage-Gate Model: A phased development process featuring predefined gates where go/no-go decisions are made based on specific criteria.
Open Innovation: A paradigm that leverages external knowledge, partnerships and co-creation networks to complement internal R&D efforts.
Idea Screening: The systematic evaluation of concepts to select those with the highest potential for further development and investment.
Rapid Validity Testing (RVT): A harmonised set of front-end activities designed to generate swift feedback and reduce uncertainty through planned flexibility.
References
- How experts screen ideas: The complex interplay of intuition, analysis and sensemaking. Journal of Product Innovation Management (2021).
- Rapid validity testing at the front end of innovation. Journal of Product Innovation Management (2021).
- Navigating new product development: Uncovering factors and overcoming challenges for success. Heliyon (2023).
- Front End of Innovation: An Integrative Literature Review. Journal of Innovation Management (2017).
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