New Product Development and Innovation Culture at Dubai Internet City (DIC)

Title

New Product Development and Innovation 1 Culture at Dubai Internet City (DIC

Executive summary

New product development is very important for an organization whatever be it is . So this assignment evaluates how Dubai Internet City should create an effective new product for itself . The new product development idea should be more systematic than from haphazard or straight . The innovative culture of the company has also been discussed . There are also suggestions for the organizations

br Introduction

As the consumer 's demands are changing firms are now creating their

products according to the buyers . New product development is the development of the original product , product improvement and modification and new brand via the firm 's own research and development efforts 2 . A firm can get new products in 2 ways . One is acquisition and the other is new product development . But one thing has to keep in mind that new product development may be risky also . New ideas are continuing to fail at a high rate . But one company should consider that why new products fail . There are several reasons for the failure . For Dubai Internet City new product development is vital . Many famous organizations are opening their branches in Dubai Internet City

Part A

There was no problem in the idea generation in the organization . The organizations employees generated the idea very efficiently about launching a new product . But the problems occurred when applying test marketing and commercialization . NPD Process compare with best practice by providing the following functions such as plan a project portfolio pipeline management 3 with resource planning and analysis of it templates for delivering documents , provide process flexibility and it also allows selection of product development process 4 . Phase gate process with tracking phases is also important . My company can learn from this that it should not ignore the importance of experiment marketing and commercialization . Suggestion for managing product development project in future is discussed below

There are some steps in the new product development . Such as

Idea generation

It means the search for the new ideas that the company can introduce in the market . Dubai Internet City can take new ideas for increasing its capacity . But for many ideas one or two will come up at the end . There are many internal and external sources for idea generation . Internal idea sources are research and development and its executives scientists , engineers and manufacturing staff . It should develop successful entrepreneurial ' programs that may intrigue employees to think up and develop new product ideas . It 5 can give more convenient services to its customers . The external ideas sources are mainly are the customers . Customers often creates new product and they use it . Company should look into the customer 's mind that will help to understand what new product should be made . Competitors are also good resource of ideas Dubai Internet City can look up the competitor 's ads and take decision of the new product . Competitors product can be bought or used and analyze how do they work...