Glossary of Whitman BUAD 300 Chapter 19
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- Quantum technological change
- A fundamental shift in technology that results in the innovation of new kinds of goods and services.
- Incremental technological change
- Change that refines existing technology and leads to gradual improvements or refinements in products over time.
- Quantum product innovations
- Products that result from quantum technological changes.
- Incremental product innovations
- Products that result from incremental technological changes.
- Product life cycle
- Changes in demand for a product that occur from its introduction through its growth and maturity to its decline.
- Stage-gate development funnel
- A planning model that forces managers to make choices among competing projects so that organizational resources are not spread thinly over too many projects.
- Product development plan
- A plan that specifies all of the relevant information that managers need in order to decide whether to proceed with a fullblown product development effort.
- Contract book
- A written agreement that details product development factors such as responsibilities, resource commitments, budgets, time lines, and development milestones.
- Core members
- The members of a team who bear primary responsibility for the success of a project and who stay with a project from inception to completion.
- Concurrent engineering
- The simultaneous design of the product and of the process for manufacturing the product.
- An individual who notices opportunities and takes responsibility for mobilizing the resources necessary to produce new and improved goods and services.
- A manager, scientist, or researcher who works inside an existing organization and notices opportunities for product improvements and is responsible for managing the product development process.
- The mobilization of resources to take advantage of an opportunity to provide customers with new or improved goods and services.
- Product champion
- A manager who takes "ownership" of a project and provides the leadership and vision that take a product from the idea stage to the final customer.
- A group of intrapreneurs who are deliberately separated from the normal operation of an organization to encourage them to devote all their attention to developing new products.
- New venture division
- An autonomous division that is given all the resources it needs to develop and market a new product.
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