E-Marketing Professionals

A key task of managing new product development is linking it to an organization's strategy. This linkage occurs through the typical situation analysis that provide the basis for developing strategic options (for example, assessing strengths, weaknesses, opportunities, and problems). Such analysis begin with recognizing major global forces with pervasive trends (such as economic systems, demographics, or technology) that lead to complexity and rapid change, a major source of uncertainty. The improved technology and declining prices of microprocessor chips certainly had dramatic effects on Compaq's business environment. To manage new product development effectively under rapidly changing circumstances requires a development process that has flexibility to cope with them. Such flexibility is ensured by a resource commitment commensurate with the importance of new product development to the organization. The more resources are available, the greater the flexibility in handling turbulence.