New Product Development
A successful idea generation process is part of searching for an idea that is superior and which has not been discovered. There are various methods that can be used in generating an idea for the new product such as Delphi and focus groups, brain storming. Ideas for the new product can be got from research using various aspects such as SWOT analysis, the trends of market and consumers, the competitors of the product, trade shows and so on. The basic approach is to ensure that full creativity is harnessed when developing the new idea. Open innovation will also be used in idea development where research will be conducted on the product. This research should be conducted in a speedy so that costs can be cut and at the same time generate new ideas that are innovative. Input can be got from internal sources like strategic planning and external sources like market information and customers (Boundless, 2013).
When brain storming on the new product we will start with...
Generation X and Y The diverse workforce means that there are multiple generations in the same workplace. Recent research regarding generational differences has found common generational attributes. These generational commonalities may be found in varying degrees, and are not indicative of "all persons of that age grouping." The traditionalists, born between 1925 and 1945, will stay in a position until they retire and don't always welcome change. Baby boomers (1946-1964), the largest group,
Generation X "the term Generation X . . . from a book written in 1991. . . By the same name. is a fictional book about three strangers who decide to distance themselves from society to get a better sense of who they are. . . . [Douglas Coupland, author,] describes the characters as 'underemployed, overeducated, intensely private and unpredictable'" (Jochim, 1997, ¶ 4). Generation X Consumer Product Generation X technically comprises the generation following
Generation Gaps in the WorkForce In every aspect of society there lies some form of a generation gap, be it in fashion, music or language. It is a well-known and often highly parodied facet of society that has now become an area of concern to many companies and businesses as they try to assess and formulate strategies that will bridge the generation gaps in the work place. There are four generation groupings
However, such an egalitarian viewpoint of the world gives Generation Y a low avoidance of uncertainty, which has both positive and negative consequences. Of the latter, the proclivity to challenge authority and to create a new status quo can create certain problems. The ubiquity of file sharing and copyright infringement that resulted in the shutdown of a number of popular websites such as Limewire, and complications for others such as
Generation X Growth Trend for Generation X for 2004 to 2010 Martin & Prince (2009) predicted that Generation X would be the predominant market segment by 2010. U.S. Census data estimate that Generation X makes up 19% of the total population in 2010. Sources vary on which birth years to include when defining this generation. For the purposes of this research, the years of 1965 to 1978 will be used to determine
Generation The older generation is famous for their stern stand against oppression. They did this through their physical presence when it came to a point where there was trampling of their rights. This generation relied on actions to pass their points and to let their voice be heard. However, the current generation does not seem to follow this model. It is exceedingly rare for the occurrence of a situation where
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