Identifying new product development best practice

Gloria Barczak and Kenneth B. Kahn

Business Horizons, 2012, vol. 55, issue 3, 293-305

Abstract: New product development (NPD) practitioners are keen to benchmark NPD practices because identifying any practice that is able to more efficiently and/or effectively deliver a new product could represent the difference between success and failure. A common purpose is therefore to identify NPD best practices with the expectation that companies will manifest and sustain these to augment their NPD efforts. To help in identifying such practices, we present a framework developed from prior benchmarking studies, a Delphi methodology with leading experts, and a survey involving over 300 NPD practitioners. The uniqueness of the framework lies in its ability to distinguish NPD practice across seven dimensions: Strategy, Research, Commercialization, Process, Project Climate, Company Culture, and Metrics/Performance Measurement. The framework is also unique in that across each dimension, poor NPD practices are listed as a starting point from which to improve, alongside best practices to which companies should aspire. To further assist in continuous improvement, an audit tool is derived from the framework, suggesting investigative questions that practitioners can ask to evaluate their company's NPD efforts. We conclude with general observations about NPD practice as the continued search for NPD best practice endures.

Keywords: New product development; Best practices; NPD audit (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:bushor:v:55:y:2012:i:3:p:293-305

DOI: 10.1016/j.bushor.2012.01.006

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