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What are your NPD plans for FY2010-11?
Posted on April 23rd, 2010 1 comment
As we move well into the final quarter of this 2009-10 financial year, the business community begins to ramp up it’s planning, strategizing and forecasting activities.So it got me thinking: how about developing a formal New Product Development (NPD) plan just as you would a cashflow, marketing and overall business plan?
To develop a decent NPD plan, you would need to consider the following goals as essential:
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Designing the right things (+ PRIZE!)
Posted on November 23rd, 2009 No comments
So, you read the last post about tips for using Design to deliver value and growth to your business. I hear you say, “Easier said than done! It’s so difficult to know where to start…”Efficiency vs Effectiveness
The old adage of “Efficiency is doing things right; Effectiveness is doing the right things” is particularly relevant here. My “design” version is:
“Designing the right things is more important than Designing things right… To be effective and successful in product development, you have to design the right things”
As product developers, we need to continually ask ourselves if we are designing the right things. Do we know what our customers really need? Are we sure that this concept or idea has the legs to make it in the market?
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Enough with the GFC already…
Posted on November 20th, 2009 No comments
Despite the emerging optimism and need to carry on “business as usual”, the global economic crisis has put some serious pressure on product development programs globally.Whilst we may be through the worst of the downturn, the business and economic communities are treading carefully and avoiding making any substantial claims of economic recovery. Budgets are being carefully guarded, and money spent cautiously. Projects that may have been a “sure thing” in terms of budget and strategic approvals may now be “discretionary” or just simply put on the back-burner altogether.
This is a good thing. It is fundamentally sound business practice to carefully evaluate and prioritise your product development projects, and only pursue those which add value, growth and sustainability to your business, society and the environment.


