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Business Justifications for Rapid Productisation in Small- and Medium-Sized Companies

Author

Listed:
  • Kai Hänninen

    (University of Oulu, Finland)

  • Matti Muhos

    (University of Oulu, Finland)

  • Harri Haapasalo

    (University of Oulu, Finland)

Abstract

Purpose: Rapid productisation (RP) is a new concept originating from practical challenges. RP is a process of quickly supplementing a company’s product or service offering to meet unexpected customer needs. The objective of this study is to describe how an RP is used and experienced in small- and medium-sized companies (SMEs) and how the use of RP is justified in SMEs located in North America. Methodology: This holistic multiple case study opens the RP concept by clarification of business case objectives set to start RP, analysis of RP challenges, and description of business justifications used for RP in the case of SMEs. Findings: This study provides an introduction to the RP practises of the case companies and describes the main objectives for RP, the key challenges faced, and a deeper analysis of the business justifications used for RP. As a rule of thumb, RP is justified if it creates new business. Research limitations: RP is a new concept and is not widely used. This was a clear challenge during the study. The interviewees mainly viewed RP as a more rapid way to execute the normal productisation process, resulting in time savings. Practical implications: This multiple case functions as a benchmark for SME managers, intermediaries, and researchers. Our findings provide support for the managers of SMEs considering RP as one option in revenue making. Originality: RP is a new concept originating from practical challenges and requires closer attention from the academic community. The academic community can provide fresh perspectives to new product development.

Suggested Citation

  • Kai Hänninen & Matti Muhos & Harri Haapasalo, 2013. "Business Justifications for Rapid Productisation in Small- and Medium-Sized Companies," Diversity, Technology, and Innovation for Operational Competitiveness: Proceedings of the 2013 International Conference on Technology Innovation and Industrial Management,, ToKnowPress.
    • Handle: RePEc:tkp:tiim13:s2_197-210.pdf
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    References listed on IDEAS

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    1. Robson, Paul J A & Bennett, Robert J, 2000. "SME Growth: The Relationship with Business Advice and External Collaboration," Small Business Economics, Springer, vol. 15(3), pages 193-208.
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    3. Thorsten Beck & Asli Demirgüç-Kunt, 2004. "SMEs, Growth, and Poverty," World Bank Publications - Reports 11278, The World Bank Group.
    4. V. Krishnan & Karl T. Ulrich, 2001. "Product Development Decisions: A Review of the Literature," Management Science, INFORMS, vol. 47(1), pages 1-21, January.
    5. Meghana Ayyagari & Thorsten Beck & Asli Demirguc-Kunt, 2007. "Small and Medium Enterprises Across the Globe," Small Business Economics, Springer, vol. 29(4), pages 415-434, December.
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