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ICT in New Product Development: Revulsion to Revolution

In: Driving the Economy through Innovation and Entrepreneurship

Author

Listed:
  • Nityesh Bhatt

    (Nirma University)

  • Abhinav Ved

    (Nirma University)

Abstract

Changing business dynamics have made it mandatory for companies across the sectors to invest in research and development efforts. Awareness about customers’ needs and their quick fulfilment with range of products and services has gained paramount significance in the last decade. Needless to mention that quality, cost and speed to market are important attributes of a product in present red ocean landscape necessitating the deployment of information and communication technologies (ICT) in all spheres of business activities including new product development (NPD). This chapter is based on secondary research. It cites a large number of cases from diverse industries like aviation, apparels, consulting, software, pharmaceuticals, electronics, construction, petroleum, energy and FMCG to conclude that implementation of ICT in NPD leads to tangible business benefits and also helps in strengthening their competitive advantage.

Suggested Citation

  • Nityesh Bhatt & Abhinav Ved, 2013. "ICT in New Product Development: Revulsion to Revolution," Springer Books, in: Chiranjit Mukhopadhyay & K B Akhilesh & R. Srinivasan & Anjula Gurtoo & Parthasarathy Ramachandran & (ed.), Driving the Economy through Innovation and Entrepreneurship, edition 127, pages 833-845, Springer.
    • Handle: RePEc:spr:sprchp:978-81-322-0746-7_68
    DOI: 10.1007/978-81-322-0746-7_68
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