a rough match between a need and a possible solution
What are the steps of the planning process?
Identify opportunities
Evaluate and prioritize projects
Allocate resources and plan timing
Complete pre-project planning
Reflect on the results and the process
What is a competitive strategy?
a basic approach to markets and products with respect to competitors
What are four competitive strategies?
Technology leadership
Cost leadership
Customer focus
Imitative
When using the technology leadership strategy, the firm places great emphasis on ___ and development of new technologies and on the deployment of these through product development.
Basic research
When using the cost leadership strategy, the firm competes on ___.
Production efficiency
The ___ displays the performance of the products in a product category over time.
Technology S-curve
The set of assets shared across a set of products is known as the ___.
Product platform
A ___ is a mapping which plots the portfolio of projects along two dimensions: the extent to which the project involves a change in the product line and the extent to which the project involves a change in production processes.
Product-process change matrix
___ helps an organization make efficient use of its resources by pursuing only those projects that can reasonably be completed with the budgeted resources.
Aggregate planning
The mission statement may include some or all of the following information:
brief (one-sentence) description of the product
benefit proposition
key business goals
target market(s) for the product
assumptions and constraints that guide the development effort