Investment Policy and Innovation Management: An Exploratory Analysis

Kingsley E. Haynes, Fred Y. Phillips, Nitin S. Pandit and Carlos R. Arieira

Chapter 13 in Innovative Behaviour in Space and Time, 1997, pp 253-275 from Springer

Abstract: Abstract An innovation cannot be recognized, adopted or spatially diffused until it is made ‘public’. The most common way an innovation is made ‘public’ is by bringing it to the market. This process of innovation is increasingly made possible within a context of continuous research and development (R&D). A new idea or invention is designed, tested, costed out and prototyped, benchmarked, examined for scaled up production and evaluated in terms of market acceptability before it is finally offered to the public. Such a procedure requires financial investment at an early stage of the product development cycle. This investment is made in an atmosphere of significant uncertainty and it is the purpose of each stage of the development process to systematically reduce this uncertainty as much as possible.

Keywords: Product Innovation; Information Gain; Product Development Process; Uncertainty Reduction; Hurdle Rate (search for similar items in EconPapers)
Date: 1997
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:adspcp:978-3-642-60720-2_13

Ordering information: This item can be ordered from
http://www.springer.com/9783642607202

DOI: 10.1007/978-3-642-60720-2_13

Access Statistics for this chapter

More chapters in Advances in Spatial Science from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().