What organizational structure and process do manager use to oversee new product development
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Managers use organizational structures and processes like cross-functional teams, stage gate systems, and budgeting approaches to oversee new product development. Some companies finance as many projects as possible while others apply a conventional percentage of sales figure. Managers may assign new product development to venture teams, give intrapreneurs budgets, timeframes, and autonomy in "skunkworks settings" to encourage innovation, and use concurrent development rather than having engineers work sequentially.
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What organizational structure and process do manager use to oversee new product development
- 1. What organizational structure andprocess do manager use to oversee new product development?
- 2. Budgeting for newproduct development
- 3. R & Doutcomes are uncertain Some company finance as many projects as possible Some other companies apply a conventional %age of sales figure
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- 5. Cross Functional Team Assignnew product development to venture team Intraprenuer given budget, Time frame & Skunkworks setting Use concurrent new product development Engineer’s do not create ‘better mousetrap’
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- 9. Created by:Ishwarkumar Teggi, SiddagangaInstitute of Technology, Tumakuru During an Marketing Internship by Prof. Sameer Mathur, IIM Lucknow. (see-www.IIMInternship.com)