Text II. The New Product Development
To grow fast, businesses need to develop new products. But before a business can launch a new product, it needs to go through several stages before it appears in the market place. The main stages are:
· marketing research finds out what customers want, who they are, and where the gaps are in the marketplace
· product development and testing makes prototypes; experiment by allowing a sample of potential customers to trial the product before it is launched
· distribution of product to outlets. The product cannot be sold unless it is in a position for customers to buy it – books will need to be in the bookshops and hammers in the hardware stores
· promotional launch informs customers features of new product – this might be done locally, nationally or internationally – the customers need to know that the product is ready, available and that it might be the sort of thing they want to buy
At the first two stages many products are rejected because the findings of research show that it will not be successful, or they cannot make a satisfactory prototype. Product testing might show that customers react badly to the product. The new product launch needs all the elements of the mix to be in place to be successful.
Additional reading____________________________________________________
Text III.
(by H. Takeuchi and I. Nonaka from Harvard Business Review, January 1986)
In today’s fast-paced, fiercely competitive world of commercial new product development, speed and flexibility are essential. Companies are increasingly realizing that the old approach to developing new products simply won’t get the job done.
This holistic approach has six characteristics: built-in instability, self-organizing project teams, overlapping development phases, “multilearning,” subtle control, and organizational transfer of learning. The six pieces fit together like a jigsaw puzzle, forming a fast flexible process for new product development.
Built-in instability
Top management kicks off the development process by signaling a broad goal or a general strategic direction. It rarely hands out a clear-cut new product concept or a specific work plan. But it offers a project team a wide measure of freedom and also establishes extremely challenging goals. Top management creates an element of tension in the project team by giving it great freedom to carry out a project of strategic importance to the company and by setting very challenging requirements.
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Self-organizing project teams
A project team takes on a self-organizing character as it is driven to a state of “zero information”—where prior knowledge does not apply. Ambiguity and fluctuation abound in this state. Left to stew, the process begins to create its own dynamic order. The project team begins to operate like a start-up company—it takes initiatives and risks, and develops an independent agenda. At some point, the team begins to create its own concept.
Overlapping development phases
The self-organizing character of the team produces a unique dynamic or rhythm. Although the team members start the project with different time horizons—with R&D people having the longest time horizon and production people the shortest—they all must work toward synchronizing their pace to meet deadlines. Also, while the project team starts from “zero information,” each member soon begins to share knowledge about the marketplace and the technical community. As a result, the team begins to work as a unit. At some point, the individual and the whole become inseparable. The overlapping approach has both advantages and disadvantages. Greater speed and increased flexibility are the “hard” merits. But the approach also has a set of “soft” merits relating to human resource management. The overlap approach enhances shared responsibility and cooperation, stimulates involvement and commitment, sharpens a problem-solving focus, encourages initiative taking, develops diversified skills, and heightens sensitivity toward market conditions.
The more obvious disadvantages result from having to manage an intensive process. Problems include communicating with the entire project team, maintaining close contact with suppliers, preparing several contingency plans, and handling surprises. This approach also creates more tension and conflict in the group
Multilearning
Because members of the project team stay in close touch with outside sources of information, they can respond quickly to changing market conditions. Team members engage in a continual process of trial and error to narrow down the number of alternatives that they must consider. They also acquire broad knowledge and diverse skills, which help them create a versatile team capable of solving an array of problems fast.
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Subtle control
Although project teams are largely on their own, they are not uncontrolled. Management establishes enough checkpoints to prevent instability, ambiguity, and tension from turning into chaos. At the same time, management avoids the kind of rigid control that impairs creativity and spontaneity. Instead, the emphasis is on “self-control,” “control through peer pressure,” and “control by love”.
Transfer of learning
The drive to accumulate knowledge across levels and functions is only one aspect of learning. Transfer of learning to subsequent new product development projects or to other divisions in the organization takes place regularly
So, changes in the environment—intensified competition, a splintered mass market, shortened product life cycles, and advanced technology and automation—are forcing managements to reconsider the traditional ways of creating products.
True or false?_______________________________________________________
1. Operations management is important to all businesses.
2. Operations and production are different terms.
3. The new product development is impossible without a thorough market research.
4. Feasibility study is prepared after the business plan of the operation.
5. Standardization means a diversity of features in the production.
6. Standardization is a feature of mass production.
7. . Determining the exact mix of services that customers will want is the direct responsibility of operations management.
8. Production and consumption are simultaneous.
9. The responsibilities of the operations manager include planning, organizing , staffing , leading , and controlling.
10. Operations management is applicable to services exclusively.
Vocabulary test___________________________________________________
1. Operations … different activities in order to deliver goods and services.
A) hugs B) embraces C) oppresses D) impresses
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2. The price system was an attempt to keep the average price low in order to …the launch of new production.
A) distract B) discourage C) encourage D) persuade
3. One of the best examples of … on the tech market is the first iPhone.
A) fracture B) penetration C) break-in D) breakthrough
4. Operations management was … called production management.
A) beforehand B) previously C) immediately D) abruptly
5. The skills required to perform the work are as … as the function itself.
A) diverse B) different C) unvaried D) similar
6. It can stimulate improvements in resource allocation and …economic growth.
A) launch B) boost C) ban D) contribute
7. …to accommodate major changes is important to good forecasting.
A) volatility B) rigidity C) flexibility D) charity
8. People are necessary in production …… increasing automation.
A) thanks to B) because of C) in order to D) in spite of
9. The result of this new … is a shorter lead time and lower costs.
A) exit B) approach C) highway D) junction
10. Changes in technology and consumer demand creates more changing markets where a product can become … almost as it reaches the market.
A) excellent B) exceptional C) absolute D) obsolete
Translating___________________________________________________________
Use the following words and expressions in the translation:
·Feasibility study – анализ экономической целесообразности
·Indicator – показатель
·Within - в пределах
·Budgeting - выделение средств
·Template - шаблон
·To mitigate - ослаблять-
·Contingency - чрезвычайные обстоятельства
Анализ экономической целесообразности – это оценка предложенного проекта с целью, чтобы определить следующие показатели:
· выполним ли проект технически
·целесообразен ли проект в пределах доступных затрат
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·будет ли проект прибыльным и когда приблизительно можно ожидать возврат инвестиций
Данный анализ в форме доклада позволяет управляющим получить необходимую информацию, чтобы принять ключевые решения о выделении средств и инвестировании. В шаблон проектного анализа включены следующие пункты:
·как достичь эффективности выполнения задач, базируясь на определённом бюджете
·как смягчить риск в случае возникновения чрезвычайных обстоятельств
·какие специалисты потребуются, чтобы преуспеть в достижении поставленных целей и как действовать – нанять ли нужных специалистов или подготовить из уже нанятых служащих.
После подготовки и одобрения анализа экономической целесообразности следующий шаг – это разработка бизнес плана. Бизнес план более точен в деталях и это - основной документ, разрабатываемый предприятием и представляемый инвестору (кредитору) по реальному инвестиционному проекту, это программа деятельности предприятия, план конкретных мер по достижению конкретных целей его деятельности, включающий оценку ожидаемых расходов и доходов.
Defining the terms_____________________________________________________
| 1.capacity | a)list of issues to be discussed at the meeting |
| 2.breakthrough | b)lift by pushing up |
| 3.feasibility | c)variety |
| 4.diversity | d)reasonable possibility to be achieved |
| 5.lead time | e) time between the initiation and completion of a production process |
| 6.boost | f) maximum amount that can be contained |
| 7.agenda | g)expectation |
| 8.anticipation | h)important discovery |
Writing______________________________________________________________
1. Some people think that the only way to succeed in business is to produce a unique product. What factors influence the success of a company?
2. A consumer survey is an easy and sure way to obtain accurate information from future customers while some managers are sure that people do not like to participate in surveys and this information is useless.
3. Different businesses find different ways of dealing with their clients. What is the most popular behavior to build customer loyalty?
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