AXIOMATIC LOGIC FOR THE COMPOSITE MODEL

Frank M. Hull

Chapter 2 in Driving Cost-Effective Innovation with Concurrent Systems:Strategy, Process, Organization, & Tools/Technologies, 2024, pp 45-70 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Six axioms justify why concurrent product development (CPD) provides optimal solutions for achieving high levels of capability for value creation in hyper-competitive environments. The first of the six axioms deals with the truism that “an ounce of prevention is worth a pound of cure.” The cost of late changes in product development cycles is exponentially more expensive than those made early on. The second axiom registers the fact that most costs are committed early in the development cycle but expended later. Early simultaneous influence (ESI) by diverse stakeholders can help in the design of products that are producible and serviceable if downstream function are engaged in upfront decision-making. The third axiom makes the case that cross-functional development is more effective for performance than the work of solo geniuses. Axiom four argues that the cross-fertilization of ideas among heterogeneous functions is best for generating radical innovations. Axiom five points out the competitive advantages of compressing the time to market. The sixth axiom argues for fully resourcing development projects upfront to avoid stringing out execution over extended periods of time. CPD methods exploit the advantages of these six propositions to develop superior products faster and cheaper. Readers may rate the extent to which their enterprise leverages the logic of these axioms using Appendix Table 2.

Keywords: Innovation Management; Technology Management; Disruptive Technologies; Radical Technology Development; Productivity Improvement; Strategic Management; Organization Behavior; Industrial Management; R&D Management; Product Development; Service Management; Concurrent Engineering; Systems Engineering; Lifecycle Management; Transformational Leadership; Project Leadership; Team Management; Enterprise Transformation; Industrial Benchmarking; Total Quality Management; Lean; Agile Systems; Software Development; Japanese Management Systems; Quality Circles; Human Capital Development; Diversity Development (search for similar items in EconPapers)
JEL-codes: O32 (search for similar items in EconPapers)
Date: 2024
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