A Benchcasing Study of New Product and Process Development

Abstract

This study focuses on a particularly vexing form of innovation—when the product or process incorporates very sophisticated and advanced technology. Advanced-technology product and process innovation is particularly problematic because of the high costs involved and uncertainties present in terms of engineering, manufacturing, and marketing. The findings of this investigation indicate that there are several critical success factors and a host of danger signs that can be used to guide an advanced-technology new product or process endeavor. This article concludes with a checklist that technical managers can use to evaluate their new product or process activity to improve its chances of success.