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|Title:||A STUDY OF THE NEW PRODUCT DEVELOPMENT PROCESS IN SINGAPORE FIRMS||Authors:||CHEONG TECK MIN||Issue Date:||1994||Citation:||CHEONG TECK MIN (1994). A STUDY OF THE NEW PRODUCT DEVELOPMENT PROCESS IN SINGAPORE FIRMS. ScholarBank@NUS Repository.||Abstract:||In today's increasingly complex business environment, exemplified by the rapidly changing markets and technology. It is rare for any firm to rely solely on its existing products for long-term profitability and survival. Innovative firms are already taking a proactive approach to install a strategy of new product development programmes to continually bring forth new products in a bid to compete more effectively against their competitors. This is also true for Singapore where the recent years have seen a growing number of firms in both the consumer or industrial product sectors getting involved in new product development and the government's continual emphasis in the area of research and development. Until now, it is believed that there has been no attempt made to study the new product development process of private firms in Singapore. This exploratory study is therefore aimed at examining this development process and specifically attempts to address the following issues: to establish the profile of companies in Singapore using the new product development process, to determine the scope of activities undertaken in the development process, to discover the differences between consumer and industrial product firms regarding the scope of activities undertaken and to determine the extent of use new product models and techniques. Besides addressing these issues, there will also be a concise review of the relevant literature, which includes a model of the new product development process by Urban and Hauser (1993). In order to obtain the necessary information, this study was designed to gather primary data from the relevant companies by means of personal interviews using a self-designed questionnaire. Altogether, a total of eighteen firms were studied. In general, the findings of this exploratory research indicate that a good number of small and medium sized firms from the Electronics and Computer industries are involved in new product development. Most firms are also motivated by the strategic objective of capitalizing on new technology in their development programmes and have put in place a systematic and consistent approach in their development process. Many of the companies are also market-driven in a sense that most new product ideas are gathered from customer and sales force feedback. A majority of the firms have also indicated that they use at least one type of new product model or technique but the range in use is very limited. A more comprehensive summary of the findings is available in the last chapter of this report.||URI:||https://scholarbank.nus.edu.sg/handle/10635/170383|
|Appears in Collections:||Bachelor's Theses|
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