Question: #887

Why is it important that a company have a well defined process for strategically managing its new pr

Why is it important that a company have a well-defined process for strategically managing its new product development process?

Solution: #893

Why is it important that a company have a well-defined process for strategically managing its new pr

Why is it important that a company have a well-defined process for strategically managing its new product development process?

 

Answer: The new product development process is highly risky—most new product development ideas and projects fail. Since many firms now focus on innovat...

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