Overview
Perform research on new product innovation. Select a new product that you will use for the rest of the course. Then answer the following questions in a 3 page word document:
- Identify the product.
- Discuss how the product is an innovative product.
- Pick a company that would use this product (you can create a company or find one on the web_ and note how this product would align with the corporate strategy. (LO1, LO2, LO3, LO4)
Essential Activities:
- Read the following articles to prepare for this week's assessment:
- Chapter two (Where do great ideas come from) Pieri, J. (2019). How we make stuff now :Turn ideas into products that build successful businesses. McGraw-Hill Education. (3 pages) (LO1, LO2, LO3)
- Chapter two in: Dekkers, R. (2018). Innovation management and new product development for engineers, volume 1: Basic concepts. (pp. 31 -76) (LO1, LO2, LO3, LO4)
Notes:
- This paper must be formatted in APA Style 7th edition.
- Please refer to the written assignment rubric on the start here tab for this paper.
- This paper is due Sunday at 11:59 PM EST.
- Below is my discussion post ( when you write the paper, you must refer to my post)
- In manufacturing, new product typically begins with the market demand. Tesla designs the cyber truck model, so that they want Fuyao to produce the sunroof and car widow. But to Fuyao that is a new product. That is a example that companies seek new product opportunities by monitoring customer feedback, market trends, and technological advancements. The company will evaluate product concepts, analyzing technical feasibility, production costs, and market demand. If a project shows potential, it proceeds to the product design and prototype development stages.
Based on my work experience at Fuyao Glass, new product development requires collaboration not only among engineers but also across departments such as production, quality control, procurement, and sales. For example, when a customer requests a new glass product, the company must first verify whether existing equipment can meet production requirements before conducting prototype testing and performance validation. A product can only enter mass production and reach the market after passing quality tests and meeting customer specifications.
Why is it important to align projects with organizational strategy?
Company has limited resource. Equipment and finance and human resources and Production capacity. Fuyao as an example, the company primarily serves the automotive glass market; consequently, new product projects generally center on the needs of the automotive industry, thereby enhancing market competitiveness and resource utilization efficiency.In summary, successful new product development requires more than just innovative ideas; it demands the integration of market demand, technical capabilities, and corporate strategy to increase project success rates and achieve long-term growth.ReferencesTharp, J. (n.d.). Align Project Management with Organizational Strategy. Align project management with organizational strategy. https://www.pmi.org/learning/library/align-project-management-organizational-strategy-7393 - Youtube video
Why is it important to align projects with organizational strategy?-The Project Management Talks
Why is it important to align projects with organizational strategy?-The Project Management Talks