Argues that to innovate is the only sure‐fire way to ensure long‐term stability, satisfy shareholder growth goals, maximize employee happiness, and stay at the forefront of industry. Identifies the contrarian views and guiding principles which are embraced by successfully innovative...

In recent years, there has been a subtle change in the advertising campaigns run by Swedish car manufacturer Volvo. The cars have always been renowned for their solidity, reliability and longevity but Volvo now aims to highlight the fact that these qualities do not come at the expense of style....

Until recently, few companies accepted that product development could be a managed and structured process. As a result, most development processes have evolved as a mix of black art and esoteric ritual, rather than having been consciously designed. However, with the crucial business significance...

New product development (NPD) remains a vital aspect of marketing for manufacturers of branded goods. Yet it remains an area of great debate and discussion not least about the best strategies and processes for delivering NPD success. Nwabueze and Law consider the NPD strategies of two large...

Next time you receive a birthday‐card that really catches your eye, it might have been thought up by the Hallmark Idea Exchange. This is not a team made up of the best and brightest card designers at Hallmark Cards Inc., but instead comprises about 200 volunteer consumers.

The idea that investors are only interested in short‐term results carries more than a grain of truth. It does, however, begin to look a little bit shaky when the fortunes of DuPont are examined. The US chemical company’s shares are underachievers compared to those of 3M. And it is 3M which...

New product development, particularly the search for real blockbusters, is of crucial importance for any organization. But when a product quickly becomes a smash hit, the next best‐seller must be found – and then the pressure really starts. Creating a totally new market can reap financial...

Japanese sourcing strategies have long been viewed as the benchmark for the automotive industry. However, despite attempts to translate Japanese ideas into globally applicable principles, a large body of literature casts doubt on the transferability of industrial practices beyond their country...

The product innovation and development process has come under increasing scrutiny over recent years, and this has lead to the general recognition that innovation is vital for business growth, but that the product development process in many companies is still far from as effective as it needs to...

The issue of collaborative development is increasingly recognized as one of the next major frontiers for improving the process of product innovation and development. Many companies now see enormous potential in leveraging the extended value chain as they deliver solutions to customers. Yet,...