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Essay / Research Paper Abstract
This 3 page paper looks at the way that ideas for new products may be generated, considering evolutionary and revolution ideas and the way tools and different approaches may be adopted to stimulate and encourage idea generation. The bibliography cites 3 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEnewprod.rtf
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Unformatted sample text from the term paper:
advantage. A significant, and potentially valuable, source of advantage is the first mover advantage; a type of differentiation where a firm is able to benefit from leveraging innovation. The ability
to develop new products (or services), is therefore a viable commercial goal, but a goal that can be difficult to achieve when looking at the way in which organisations
may seek to develop new products and gain advantages from innovation there are a number of approaches which may be adopted (Mintzberg et al, 2008).
Generally, approaches to product innovation can be divided into two categories, revolutionary and evolutionary. Revolution development takes place where there is a brand new concept, with nothing
similar already developed, representing a big leap in innovation. (Mintzberg et al, 2008). Examples of revolutionary product development include the gear box in cars in the automotive market, microprocessors in
computing and the microwave in the culinary world. Revolutionary product development is the most difficult ideas may spring from a recognised but unsatisfied need an tend to come about as
a result of singular innovative thinking while organisations may desire revolutionary development but are most likely to achieve it through the development of a creative culture, where innovation and
ideas are encouraged (Kelley and Littman, 2009). A good example of this is Google which seeks to develop new services by facilitating "out of the box" thinking. Creative
thinking models from a team work and brainstorming may all facilitate the process, but its realisation can remain elusive. The more frequent model seen in the development of products
is that of evolutionary change. Evolutionary development takes place where new products are based on ideas or concepts that are already being used, either improving on them as seen
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