Archive for the ‘organisations’ tag
Product development
Product development
Product development is where organisations deliver modified og new products to existing markets. This is a limmited extention of organisational scope. In practice, even markets penetration will probably require some product development, but here product development implies greater degrees of innovation. However, product decelopment can be an expensive and high-risk activity for at least two reasons.
New strategic capabilities
Product development typically involves mastering new technologies that may be unfamiliar to the organisation. For example, many banks entered online banking, at the beginning of this century, but suffered many setbacks with technologies so radically different to their traditionally high street branch means of delivering bank services. Thus project development typically involves heavy investments and high risk of project faliur. read more about product develop