Product Development Processes and Their Importance to Organizational Capabilities

Keywords Product Development Processes and Their Importance to Organizational Capabilities
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Phase 1: Planning begins with assessment of technology development and market objectives. The output of this phase is the project mission statement, which specifies the target market for the product, business goals, and key assumptions and constrains. Some researches refer this phase as “phase zero”, since in some product development settings, it precedes the project approval and the launch of the actual product development, despite its impact in the overall success of product development. In order to reflect it’s crucial and formal role in the product development, we here refer to this phase as phase 1.
Phase 2: Concept development evaluates alternative approaches to product design, and selects appropriate form, function, and features for further development. Notice in this phase, not only the product’s technical specifications are evaluated, but also the product’s attributes in terms of customer needs and market requirement are evaluated. Questions that need to be answered in this phase include: what are the target values of the product attributes including pricing? What variants of the products will be offered, and what is the core product concept?
Phase 3: Product design and development define product detailed specifications, designs system architecture, and organizes and coordinates the development activities. The output of this phase is the product that is based on the approved concept and specification.

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Product development is a creative and interdisciplinary activity that transforms a market opportunity and technological innovation into successful products. It is a set of activity-based processes in a product-oriented enterprise, and is essential to the economic success of such organization. Determining important processes in the product development and determining their relationships with organizational capability are crucial to the sustainable success in product development. Studying their relationships would give us insights into the product development dynamics. The objectives of this research are to provide a framework to determine the importance of product development processes and their relationship with organizational capabilities, to provide an assessment vehicle that helps organizations assess their capabilities and make improvements, and to improve predictions of project outcomes as the ultimate goal.

Bing Liu
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