|Author:||Kwong, Kwok-wah Edwin|
|Title:||Setting the stage for new product development : an empirical study of the Hong Kong electronics industry|
|Subject:||Hong Kong Polytechnic University -- Dissertations|
Electronic industries -- China -- Hong Kong
New products -- China -- Hong Kong
Product management -- China -- Hong Kong
|Department:||Graduate School of Business|
|Pages:||vii, 149 leaves : ill. ; 30 cm|
|Abstract:||New product development (NPD) is an important source of competitive advantage. However, NPD is expensive and risky. Facing severe competitions from other Asian countries, Hong Kong electronics firms are at a crossroads to transform themselves into high valued added business. The purpose of this research is to unfold the constructs leading to better NPD performance in terms of speed, quality and cost. A model is proposed which includes the major actors in NPD projects: champions, NPD teams and management. Their effects are presented as independent variables in the model, namely, champion behavior, teamwork quality and strategic orientation, respectively. In addition, the impact of project radicalness is incorporated as a moderator. The study also examines the effects of NPD performance dimensions on the achievement of financial performance, the ultimate goal of most companies. A mail survey was conducted on 53 Hong Kong electronics firms which have local NPD capabilities. The unit of analysis was project. The study evaluated the most recently completed and launched NPD project within the past 1 year. From the data, hierarchical moderated regression analyses. were performed to test the relationships among variables and the moderating effects of project radicalness. The findings partially supported the influence of goal clarity and NPD process on the 3 NPD performance dimensions, and a conducive team norm was effective in improving speed and quality. When project radicalness was included as a moderator, the effects of strategic orientations on speed became more significant. For cost, all constructs proposed: champion, teamwork quality and strategic orientations were significant in reducing the cost of high radicalness projects. Moreover, the results from regression analyses showed that cost was the most prominent predictor of financial performance. These findings suggest that although there is yet to be panacea, which can achieve various NPD performance targets simultaneously, managers could carefully manipulate the variables suggested in this study (i.e., the reinforcement of champion leadership, teamwork quality among NPD members and management strategic orientation), and set a potent stage to nurture NPD activities and to improve business performance. In summary, this study offers scholars and managers further dimensions for improving the understanding and practice of NPD.|
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