The product development process to provide solutions to companies


Top management should present the vision and priorities for developing a new product. It should give guidance about the product or market the company is interested in offering. It should provide focus for areas where ideas have to be generated.
By setting their goals, top management can provide indicators of the screening criteria that should be used to evaluate these ideas.
A company might think that it is taking a risk by working on only some new ideas.
Although the new product development process may not be anticipated, the chances of success will definitely improve if the team knows precisely what it wants to achieve from the process, puts the best people on the project, and has sufficient resources to commit to the project.

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