Question 1: Using examples for precise illustration, explain how BMW has planned innovation and new product development to manage its technology life cycle, i.e., product life cycle. BMW is one of the high-tech companies that successfully use customer-friendly and coupled with an approach to innovation management (Stanleigh, n.d.). This innovative culture is what determines BMW to be an effective firm. Company’s management states that all departments of their business are equally oriented on innovations in their area, however at the same time the company does not loose its main orientation. This innovative approach can be viewed in new ...
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What holes did you find in the article entitled, “Effective Gating?”
Dr. Cooper, R.G., in his article “Effective Gating” claims that modern companies do not stop any projects at their 1st stage, but rather take them all into further business’s product roadmap stations. Taking into account limited resources the company affords, passing too many innovative projects through the Gate 1 stage may result in financial losses and will definitely deter management from the most profitable ideas. However, the author also states that companies can and should kill and send for reviews projects at any stage, not only when the idea is just created (Cooper, 2009, p.13). So, he encourages ...
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