A conceptual model of virtual product development process
AbstractIn today’s dynamic marketplace, companies are under strong pressure to introduce new products for long-term survival with their competitors. Besides, every company cannot cope up progressively or immediately with the market requirements due to knowledge dynamics being experienced in competitive milieu. Increased competition and reduced product life cycles put force upon companies to develop new products faster. In response to this pressing need there should be some new approach compatible in flexible circumstances. This paper presents a solution based on the Stage-Gate system, which is closely linked with virtual team approach. Virtual teams can provide a platform to advance the knowledge-base in a company and thus to reduce time-to-market. This article introduces conceptual product development architecture under a virtual-team umbrella. The paper describes all the major aspects of new product development (NPD), NPD process and its relationship with virtual team, Stage-Gate system and finally presents a modified Stage-Gate system. It also provides the guidelines for the successful implementation of virtual team in new products development.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 27374.
Date of creation: 30 Apr 2009
Date of revision: 12 Jun 2009
Modified Stage-Gate System; Virtual Product Development; Conceptual Model;
Find related papers by JEL classification:
- M12 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - Personnel Management; Executives; Executive Compensation
- O32 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
- L17 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Open Source Products and Markets
- L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
- L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
- M11 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - Production Management
- M1 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration
- O3 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights
- P4 - Economic Systems - - Other Economic Systems
- L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
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- Pawar, Kulwant S. & Sharifi, Sudi, 1997. "Physical or virtual team collocation: Does it matter?," International Journal of Production Economics, Elsevier, vol. 52(3), pages 283-290, October.
- Ragatz, Gary L. & Handfield, Robert B. & Petersen, Kenneth J., 2002. "Benefits associated with supplier integration into new product development under conditions of technology uncertainty," Journal of Business Research, Elsevier, vol. 55(5), pages 389-400, May.
- Charles Davis & Elaine Sun, 2006. "Business Development Capabilities in Information Technology SMEs in a Regional Economy: An Exploratory Study," The Journal of Technology Transfer, Springer, vol. 31(1), pages 145-161, 01.
- Ale Ebrahim, Nader & Ahmed, Shamsuddin & Taha, Zahari, 2009. "Envisages of New Product Developments in Small and Medium Enterprises through Virtual Team," MPRA Paper 26984, University Library of Munich, Germany, revised 02 Jan 2010.
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