New Product Development and Project Management Decisions
Yael Grushka‐Cockayne, Sanjiv Erat, Joel O. Wooten · 2018
Companies today are constantly seeking ways to innovate, organically grow, and stay ahead of their competitors. There is an increasing focus on improving processes of creativity, design, and innovation. Firms ask: How do we foster a culture for innovation and encourage creativity? How can we generate more and better ideas for new products and services? How can these ideas become a reality? And finally, how can we execute our projects better and faster than our competitors? We examine the associated activities taken by the firm and seek to understand human behavior in these activities. We take a behavioral operations perspective on the processes of creativity and innovation through new product development and project execution. We survey the main behavioral tendencies documented in this area and synthesize the key insights on how they have been shown to influence decision-making. The survey also helps clarify areas where further research is necessary.