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Product development is an important source of profitability as existing markets become price competitive and saturated. However, the process of product development is fraught with risk. In this course we study the process of managing products and how companies can manage their introduction and elimination from the product portfolio. We review how these decisions are made within the context of profit seeking and not-for-profit organizations. We then review the implication of these decisions for performance.
Intended learning outcomes
On successful completion of this subject, students should be able to:
- Use the basic tools used in new product development and design;
- Analyse the impact of new product development on organisational growth, profitability and overall business success;
- Explore strategic issues facing the product creation process;
- Appreciate the systematic scientific analysis as well as the creative art and judgment involved in new product management.
On successful completion of this subject, students should have improved the following generic skills:
- Collaborative learning and teamwork, developed through case study assignments. Teamwork will be fostered through collaborative learning, which is necessary to analyse, write-up and present case assignments;
- Problem solving and critical thinking;
- Creative thinking and application;
- Oral and written communication, fostered through the presentation and write-up of case assignments and through class discussions;
- Synthesis and application of theoretical models to case studies and recurring organisational problems.
Last updated: 26 March 2020