NEW product development, RAPID prototyping, COMMERCIAL products, INDUSTRIAL research, SMALL business, ENTREPRENEURSHIP, PILOT projects, PRODUCT management, STRATEGIC planning, and MANAGEMENT science
A pilot test is reported on a method for relating the degree of "newness" within a firm's portfolio of products and the firm's economic success. The embodied technology and market applications newness is measured in the sequences of 79 products developed and released by a sample of 10 small technology-based companies, each under $50 million in most recent sales. A two-dimensional "technology newness/market newness" grid is prepared for the product set of each firm, based on the conditions existent at the time of each product's development. Alternative weighting schemes are used to generate a "newness index" for each firm. The degree of "strategic focus" is shown to relate directly to corporate growth in that small firms with more restricted degrees of technological and market change in their successive products outperform companies with wide diversity. The evidence suggests, however, that some product "newness" is better than no "newness," and that more technological change can be effectively employed in small company product strategy than market change. [ABSTRACT FROM AUTHOR]
Long Range Planning. Jun72, Vol. 5 Issue 2, p65-69. 5p.
NEW product development, PRODUCT management, RAPID prototyping, CUSTOMER services, SMALL business, and INDUSTRIAL research
The article discusses approaches to the obtaining of new products by individual firms in order to reach new markets. An interesting approach to diversification is the change from a product-oriented firm to a service-oriented company. Large corporations follow this strategy to cash in on the trend to more services: an increasing part of the consumer's money goes into travel, recreation, restaurants, appliance and car repair, hair-dressers, dry-cleaning and similar services. This makes it possible to avoid the disadvantages of small production lots and the consequently high manufacturing costs and to exploit fully the advantages of close customer relations and a locally available service organization. A small Dutch steel fabricator concluded more than 10 years ago that his business could not remain profitable in the face of limited financial reserves, increased labour costs and competition from larger firms. After 3 years the company obtained an important place in the market in its region for industrial piping.
SMALL business, INDUSTRIAL research, RESEARCH, PRODUCT management, NEW product development, COMMERCIAL products, BUSINESS enterprises, RAPID prototyping, and COSTS
Small and medium-sized enterprises (SMEs) struggle with the paradox of developing new products and technologies on the one hand and minimizing costs on the other. These SMEs must be innovative to survive and grow. However, compared to large firms, SMEs have several problems in their innovation process, which negatively influence their overall innovation performance. This research explores successful patterns of internal SME characteristics that lead to high overall innovation performance. Cluster analyses were conducted to find patterns in the internal characteristics of SMEs with high overall innovation performance. We find that companies that focus on incremental innovation and that achieve high overall innovation performance indeed share a pattern in their internal organization, when controlling for innovation type. The paper adds to the current body of knowledge by comparing high- and low-performing companies based on competence differences. Because real-life organizations consist of multiple organizational characteristics, we also contribute to management practice by simultaneously addressing multiple organizational characteristics for the successful organization of innovation. [ABSTRACT FROM AUTHOR]
INDUSTRIAL research, SMALL business, BUSINESS forecasting, RAPID prototyping, MANUFACTURING processes, LEAD time (Supply chain management), MARKETS, THREE-dimensional printing, ALLOY powders, and DEVELOPING countries
The article reports that according to predictions by Global Market insights Inc, 3D printing will expand by twenty five percent each year from the year 2018 to 2024. The government of Canada started Industrial Research Assistance Program to promote use of 3D printing among business enterprises of small and medium sizes.
Journal of Small Business Management. Jan2002, Vol. 40 Issue 1, p27-42. 16p. 7 Charts, 1 Graph.
BUSINESS enterprises, MANUFACTURING processes, NEW product development, SMALL business, RAPID prototyping, INDUSTRIAL research, and AUSTRALIA
This article examines the new product development process (NPDP) in Australian small and medium-sized enterprises (SMEs). Findings from a sample of 276 innovative Australian SMEs suggest that marketing-related activities were undertaken less frequently and were less well executed than technical activities in developing new products. However, marketing-related activities were important in distinguishing between successful and unsuccessful new products. In addition, resource and skill availability and new product planning were positively associated with the quality with which NPD activities are executed. Further, the existence of a new product strategy seemed to have a significant positive impact on the quality of NPD activities. [ABSTRACT FROM AUTHOR]