“Innovate
or Perish: Success Factors and Sources of Failure” is a peer reviewed
practitioner article that identifies, illustrates, and suggest, risk/success
factors that new product development brings along.
This article
is different and important because there are very few articles that discuss the
obstacles and failures of innovation. The article brings some much needed
knowledge on the failures of innovation.
The
articles model below shows factors affecting the failure of new product
development. Things such as sales, technology, size of company all affect the
probability of success/failure of new product development.
In
conclusion the article suggestions, summarized, were:
v In daily practice pay special
attention to success factors
v The project leader remain the same
for conception to end
v Do not under estimate resources
needed
v Like most things communication is
key
v The quality, strategy, and support
are keys to success
Works Cited
Rhaiem,
Mehdi. "Innovate Or Perish: Success Factors And Sources Of Failure." Journal
Of International Business & Economics 12.3 (2012): 102-122. Business
Source Complete. Web. 8 July 2012.
I agree that there aren't enough articles out there that discuss innovation failures. Most people don't want to admit to failure and loss of money. I think if more people did, there would be less failures becuase we can all learn from each others mistakes.
ReplyDeleteI could see where there are alot of NPD invovation failures in companies. It is hard enough to implement new IT Technology products into a companies enviroment using proven project management steps. I have seen more money wasted on projects that were not properly documented before they were started.
ReplyDelete