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Taking the guesswork out of new product development: how successful high‐tech companies get that way

Ali E. Akgün (Ali E. Akgün is an Assistant Professor of Science and Technology, School of Business Administration at Gebze Institute of Technology, Istanbul, Turkey.)
Gary S. Lynn (Gary S. Lynn, selected by Business 2.0 Magazine (October, 2002) as one of the nine leading management gurus in the country, is an Associate Professor at Stevens Institute of Technology, Hoboken, NJ, USA.)
John C. Byrne (Assistant Professor in the Department of Management and Management Science, Lubin School of Business, Pace University, New York, NY.)

Journal of Business Strategy

ISSN: 0275-6668

Article publication date: 1 August 2004

Abstract

The authors report on their findings from an ongoing seven‐year research project on the intersection of entrepreneurship, marketing and technology. The focus of their research is to identify factors that lead to better, faster and less expensive new product and service development. The present study investigates new product development practices in high‐technology small‐to‐medium enterprises (SMEs), including electronics and computer, biotechnology, military software, space, and electronic machinery companies. Gathering data from 60 new product development projects, the authors found that successful project teams perform certain practices better than unsuccessful ones. These include project visioning, process proficiency, management support, documentation systems, established project deadlines, team processes, and communication. Further, the authors identified critical success factors in the new product development projects as process proficiency, effective filing system, an established project deadline, information coding, and reduced formal communication within teams.

Keywords

Citation

Akgün, A.E., Lynn, G.S. and Byrne, J.C. (2004), "Taking the guesswork out of new product development: how successful high‐tech companies get that way", Journal of Business Strategy, Vol. 25 No. 4, pp. 41-46. https://doi.org/10.1108/02756660410547395

Publisher

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Emerald Group Publishing Limited

Copyright © 2004, Emerald Group Publishing Limited