Significant issues for the future of product innovation

Article Abstract:

Relevant issues concerning the future of product innovation are discussed. Timothy Devinney of the University of New South Wales asks why globalization has so far had very little influence on many organizations' approaches to the management of product innovation and wonders if innovation is an inherently local activity or whether other explanations are at work. The inherent nature of the innovation process is important to how it will transform with globalization. Innovation is an information-intensive process and it has the attributes of all such processes, which are high set-up costs and a low cost of dissemination. Innovation is inherently global, but the reality is different. An examination of typical corporate performance shows that information is not as freely transferred as theory would have us believe and many of the more product-centered aspects of innovation are hindered by regulatory, cultural and sociopolitical differences that exist in global markets. Innovation is basically the transformation of information into products whether it is actual production or the processes behind the product or service.

Wales, Business, Innovations, Globalization

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Leadership style: its impact on cross-functional product development

Article Abstract:

Leadership style has been found to create a substantial impact on the success of firms, as revealed by an interdisciplinary study conducted on six medium-scale engineering firms in Sweden. The research stressed that contrary to popular notion, leadership behavior, instead of power influences project performance. Positive leadership traits were shown to illicit optimal performance results, including better work climate and organizational efficiency.

Management Functions, Analysis, Project management, Leadership

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New products and financial risk changes

Article Abstract:

Financial risk changes are inherent with new product innovations together with profitability and competitive position of the innovating firm. Financial risk changes are largely due to the fuss involved in product turnover. This factor is usually overlooked, implying that most companies' projected cost of capital estimates are unreliable. A simple formula for estimating the effect of financial risk on cost of capital is described.

New products, Product introduction, Value analysis (Cost control)

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