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    An Introduction To New Product Development (NPD) (NPD) : Lecture 1: Extra Slides

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    WeeHong Ngeo
    This document provides an introduction to New Product Development (NPD). It defines innovation as a total integrated process involving idea conception, invention, development, and commercialization. Invention is the conception of an idea, while innovation translates the idea into practical application and the economy. Innovation management involves managing all activities from idea generation to marketing of new products and processes.

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    An Introduction To New Product Development (NPD) (NPD) : Lecture 1: Extra Slides

    Uploaded by

    WeeHong Ngeo
    40 views5 pages
    This document provides an introduction to New Product Development (NPD). It defines innovation as a total integrated process involving idea conception, invention, development, and commercialization. Invention is the conception of an idea, while innovation translates the idea into practical application and the economy. Innovation management involves managing all activities from idea generation to marketing of new products and processes.

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    This is lecture 1

    Original Title

    Lecture 1 Introduction Extraslides

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    This document provides an introduction to New Product Development (NPD). It defines innovation as a total integrated process involving idea conception, invention, development, and commercialization. Invention is the conception of an idea, while innovation translates the idea into practical application and the economy. Innovation management involves managing all activities from idea generation to marketing of new products and processes.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    40 views5 pages

    An Introduction To New Product Development (NPD) (NPD) : Lecture 1: Extra Slides

    Uploaded by

    WeeHong Ngeo
    This document provides an introduction to New Product Development (NPD). It defines innovation as a total integrated process involving idea conception, invention, development, and commercialization. Invention is the conception of an idea, while innovation translates the idea into practical application and the economy. Innovation management involves managing all activities from idea generation to marketing of new products and processes.

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    BM050-3.5.

    3 Innovation Management and New


    Product Development (IMNPD)

    An introduction to New
    Product Development (NPD)

    Lecture 1: Extra slides(NPD)


    New Product Development-
    Introduction
    “Innovation is not a single action but a
    total process of interrelated sub process.
    It is not just the conception of a new idea,
    not the invention of a new device, nor the
    development of a new market. The
    process is all these things acting in an
    integrated fashion”

    Module Code and Module Title Title of Slides


    Innovation vs Invention
     Innovation is concerned with the commercial
    and practical application of ideas or
    inventions.
     Invention is the conception of the idea into a
    tangible new product or process. Innovation is
    the subsequent translation of that idea into
    the economy
     Innovation = theoretical conception +
    technical invention + commercial exploitation.
    Module Code and Module Title Title of Slides
    Innovation as Management
    process
     Innovation is the management of all the
    activities involved in the process of idea
    generation, technology development,
    manufacturing and marketing of a new (or
    improved) product or manufacturing
    process or equipment.

    Module Code and Module Title Title of Slides


    Questions?

    Module Code and Module Title Title of Slides

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