Product Development As A Strategic Management Tool

Numerous types of management tools can be applied to innovation management -conceptual and mathematical models, frameworks, checklists, benchmarking tool and specific techniques and methodologies. This paper reviews a variety of such tools, examines their take-up by and usefulness to industry and speculates on their relevance and applicability in complex product system industries. The development of many of the tools has been informed by the large body of research into the success and failure of innovation, much of which has been based on studies of mass produced consumer products rather than the one-off, customised or small batch-produced industry-to-industry products that characterise CPS production. As a result, many of the innovation management tools are likely to be of limited use to CPS innovation. Areas where tools may be of assistance in CPS firms include technology acquisition and risk assessment, project management and, given the increased importance of embedded software in CPS, software management tools.

TABLE OF CONTENTS

CHAPTER TWO

CHAPTER THREE

CHAPTER FOUR