Abstract
May 17, 2021 - The Product Development and Management Association (PDMA) is excited to announce the results of their most recent global best practices survey. The Global Best Practices survey has been carried out four times since 1995. This 5-month research effort focusing on the innovation best practices of firms from all over the world provides a key resource of insights for successful innovation and new product development improvement.
Some highlights from the research include:
Leading firms are more likely to utilize a “Prospector” strategy - being first with new products, markets, and technologies, even though not all efforts prove profitable and responding to early signals about areas of opportunity.
Leading companies commercialize more radical and significant innovations but fewer incremental innovations than others.
The most innovative firms are 20-25% faster in developing all types of innovations (radical, significant, incremental) than others.
Leading firms invest more in new product development in 2020 during the pandemic compared to 2019, where others reduce the investments in NPD.
PDMA will share all of the overall results during webinar events on May 19-20, 2021, where attendees will hear from the researchers, receive additional insights and have the ability to ask questions. These events are open to anyone who is interested in participating but have a limited capacity. Registration can be completed on the PDMA website. Additional findings will be published at a later date in in-depth industry evaluation and scholarly articles in PDMA's academic journal, Journal of Product Innovation Management (JPIM).
Some highlights from the research include:
Leading firms are more likely to utilize a “Prospector” strategy - being first with new products, markets, and technologies, even though not all efforts prove profitable and responding to early signals about areas of opportunity.
Leading companies commercialize more radical and significant innovations but fewer incremental innovations than others.
The most innovative firms are 20-25% faster in developing all types of innovations (radical, significant, incremental) than others.
Leading firms invest more in new product development in 2020 during the pandemic compared to 2019, where others reduce the investments in NPD.
PDMA will share all of the overall results during webinar events on May 19-20, 2021, where attendees will hear from the researchers, receive additional insights and have the ability to ask questions. These events are open to anyone who is interested in participating but have a limited capacity. Registration can be completed on the PDMA website. Additional findings will be published at a later date in in-depth industry evaluation and scholarly articles in PDMA's academic journal, Journal of Product Innovation Management (JPIM).
| Original language | English |
|---|---|
| Publication date | 17 May 2021 |
| Publication status | Published - 17 May 2021 |
