Rapid technology advances have created a continuous stream of new products. Additionally, competition among product vendors increases the pressure to quickly market these new products. This pressure can drive companies to prematurely release new products. To ensure real world product operation, many customers now demand that products pass extensive field testing prior to wide scale product deployment. Thus, successful field trials are a critical component of successful new product introductions. Field trials also create conflicting expectations that must be managed. By the time a new product is ready for field trial, the development team and management are anxious to complete the product and move personnel to new development efforts, At the same time, sales and marketing are pushing hard to book an order. Meanwhile, the customer may want product modifications that were identified during the trial process. The field trial manager is often caught in the middle of these conflicting objectives. This paper presents recommended processes, a series of lessons learned, and advice to help smooth the way for conducting successful new product field trials.
{"title":"Conducting successful new product field trials","authors":"J. HElM, D. Holly","doi":"10.1109/EMS.2000.872478","DOIUrl":"https://doi.org/10.1109/EMS.2000.872478","url":null,"abstract":"Rapid technology advances have created a continuous stream of new products. Additionally, competition among product vendors increases the pressure to quickly market these new products. This pressure can drive companies to prematurely release new products. To ensure real world product operation, many customers now demand that products pass extensive field testing prior to wide scale product deployment. Thus, successful field trials are a critical component of successful new product introductions. Field trials also create conflicting expectations that must be managed. By the time a new product is ready for field trial, the development team and management are anxious to complete the product and move personnel to new development efforts, At the same time, sales and marketing are pushing hard to book an order. Meanwhile, the customer may want product modifications that were identified during the trial process. The field trial manager is often caught in the middle of these conflicting objectives. This paper presents recommended processes, a series of lessons learned, and advice to help smooth the way for conducting successful new product field trials.","PeriodicalId":440516,"journal":{"name":"Proceedings of the 2000 IEEE Engineering Management Society. EMS - 2000 (Cat. No.00CH37139)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2000-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131221375","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
It is generally acknowledged that a company's product strategy, the nature of that strategy and the extent to which it is clearly communicated within the company, have a marked effect on business performance. The paper reports on the results of a study of 88 UK SMEs recently undertaken by the DERC. The research was aimed at determining the relationship between a company's performance in terms of the success of its new product development (NPD) activity and the extent to which such activity is governed by a predefined product strategy. The findings show that over 90% of the companies considered that innovation was an important element of the company's strategy. However, nearly 50% of the companies failed to show any evidence of a documented product strategy to underpin the processes of innovation. This work has allowed possible drivers for innovation to be examined in the context of small company operations. The research also identifies some issues not always associated with the innovation and product development processes which nonetheless can have a profound effect on the success, or otherwise, of this activity.
{"title":"Innovation from a small company perspective-an empirical investigation of new product development strategies in SMEs","authors":"A. Filson, A. Lewis","doi":"10.1109/EMS.2000.872491","DOIUrl":"https://doi.org/10.1109/EMS.2000.872491","url":null,"abstract":"It is generally acknowledged that a company's product strategy, the nature of that strategy and the extent to which it is clearly communicated within the company, have a marked effect on business performance. The paper reports on the results of a study of 88 UK SMEs recently undertaken by the DERC. The research was aimed at determining the relationship between a company's performance in terms of the success of its new product development (NPD) activity and the extent to which such activity is governed by a predefined product strategy. The findings show that over 90% of the companies considered that innovation was an important element of the company's strategy. However, nearly 50% of the companies failed to show any evidence of a documented product strategy to underpin the processes of innovation. This work has allowed possible drivers for innovation to be examined in the context of small company operations. The research also identifies some issues not always associated with the innovation and product development processes which nonetheless can have a profound effect on the success, or otherwise, of this activity.","PeriodicalId":440516,"journal":{"name":"Proceedings of the 2000 IEEE Engineering Management Society. EMS - 2000 (Cat. No.00CH37139)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2000-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133137314","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper provides a valuation framework that links central concepts from technology and innovation management (TIM), sequential models of the new product development (NPD) process, and the valuation technique of "real options", for use in value-based management of technology-intensive companies. A binomial option tree is introduced that incorporates the flexibility and the risks inherent in the NPD process into its evaluation in theoretically correct way. The proposed options-based approach ties the valuation of hitech and life sciences companies closer to the underlying growth opportunities and incorporates much of the "gut feel" of experienced industry practitioners into the valuation. As a consequence, the approach leads to more defensible valuations and allows powerful insights for the value-based management of technology-intensive companies. Finally, a real life situation from the biotechnology industry is described where the options-based approach was successfully applied in practice and added considerable insight and value for the company.
{"title":"A value-oriented approach to new product development using real options","authors":"A. Jagle, T. Durrani","doi":"10.1109/EMS.2000.872492","DOIUrl":"https://doi.org/10.1109/EMS.2000.872492","url":null,"abstract":"This paper provides a valuation framework that links central concepts from technology and innovation management (TIM), sequential models of the new product development (NPD) process, and the valuation technique of \"real options\", for use in value-based management of technology-intensive companies. A binomial option tree is introduced that incorporates the flexibility and the risks inherent in the NPD process into its evaluation in theoretically correct way. The proposed options-based approach ties the valuation of hitech and life sciences companies closer to the underlying growth opportunities and incorporates much of the \"gut feel\" of experienced industry practitioners into the valuation. As a consequence, the approach leads to more defensible valuations and allows powerful insights for the value-based management of technology-intensive companies. Finally, a real life situation from the biotechnology industry is described where the options-based approach was successfully applied in practice and added considerable insight and value for the company.","PeriodicalId":440516,"journal":{"name":"Proceedings of the 2000 IEEE Engineering Management Society. EMS - 2000 (Cat. No.00CH37139)","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2000-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123760002","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Wavelet analysis is a new development in applied mathematics about ten years in duration. Wavelet analysis has been applied to many situations with favorable results. Wavelet analysis has remarkable impact mainly on three fields, signal processing, image analysis and data compression. Wavelets also have special statistic properties, which can be used in adaptive filtering and smoothing. Many researchers are expanding its application on other fields, such as financial engineering. This author presents a brief review of wavelet methods and its applications. Their empirical study is developed on the SPLUS (Bruce and Gao, 1996) wavelet module platform.
小波分析是应用数学领域近十年来的新发展。小波分析已应用于许多场合，并取得了良好的效果。小波分析主要在信号处理、图像分析和数据压缩三个领域有显著的影响。小波还具有特殊的统计特性，可用于自适应滤波和平滑。许多研究人员正在将其应用扩展到其他领域，如金融工程。本文简要介绍了小波变换方法及其应用。他们的实证研究是在SPLUS (Bruce and Gao, 1996)小波模块平台上进行的。
{"title":"Wavelet-based analysis of time series: an export from engineering to finance","authors":"J. Norsworthy, D. Li, R. Gorener","doi":"10.1109/EMS.2000.872489","DOIUrl":"https://doi.org/10.1109/EMS.2000.872489","url":null,"abstract":"Wavelet analysis is a new development in applied mathematics about ten years in duration. Wavelet analysis has been applied to many situations with favorable results. Wavelet analysis has remarkable impact mainly on three fields, signal processing, image analysis and data compression. Wavelets also have special statistic properties, which can be used in adaptive filtering and smoothing. Many researchers are expanding its application on other fields, such as financial engineering. This author presents a brief review of wavelet methods and its applications. Their empirical study is developed on the SPLUS (Bruce and Gao, 1996) wavelet module platform.","PeriodicalId":440516,"journal":{"name":"Proceedings of the 2000 IEEE Engineering Management Society. EMS - 2000 (Cat. No.00CH37139)","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2000-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121754454","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Efficient participation in today's economy demands high reliance on effective leadership of technical and support teams whose members are scattered across many geographic boundaries. This paper presents research best practices, and case studies of this management challenge for successfully leading from a distance. The research reveals a core set of essential leadership skills that simultaneously meet the needs of the dispersed, "out of sight" people while they achieve targeted project results.
{"title":"Effective leadership of virtual project teams","authors":"J. Thompsen","doi":"10.1109/EMS.2000.872467","DOIUrl":"https://doi.org/10.1109/EMS.2000.872467","url":null,"abstract":"Efficient participation in today's economy demands high reliance on effective leadership of technical and support teams whose members are scattered across many geographic boundaries. This paper presents research best practices, and case studies of this management challenge for successfully leading from a distance. The research reveals a core set of essential leadership skills that simultaneously meet the needs of the dispersed, \"out of sight\" people while they achieve targeted project results.","PeriodicalId":440516,"journal":{"name":"Proceedings of the 2000 IEEE Engineering Management Society. EMS - 2000 (Cat. No.00CH37139)","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2000-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127719393","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Japanese companies are conducting extensive restructuring of their operations following examples of US companies that transformed their organizations successfully to complement economic conditions. Accordingly, there is a growing fear that a "corporate Alzheimer's phenomenon" may result; thus, an important concern has become the study of knowledge management. The assured success of revolutionizing Japanese industry depends entirely upon the fusion of cyber and traditional businesses. From this viewpoint, in this paper we provide an example of the revolution of Japanese enterprises to knowledge creating companies, and discuss the guiding principals and organization required to survive in the network era. Those organizations that are flexible, allow transition and promote revolutionary change are companies that exhibit the concept of corporate governance.
{"title":"Revolution of knowledge creating companies in Japan","authors":"H. Yamasaki, I. Yamada","doi":"10.1109/EMS.2000.872579","DOIUrl":"https://doi.org/10.1109/EMS.2000.872579","url":null,"abstract":"Japanese companies are conducting extensive restructuring of their operations following examples of US companies that transformed their organizations successfully to complement economic conditions. Accordingly, there is a growing fear that a \"corporate Alzheimer's phenomenon\" may result; thus, an important concern has become the study of knowledge management. The assured success of revolutionizing Japanese industry depends entirely upon the fusion of cyber and traditional businesses. From this viewpoint, in this paper we provide an example of the revolution of Japanese enterprises to knowledge creating companies, and discuss the guiding principals and organization required to survive in the network era. Those organizations that are flexible, allow transition and promote revolutionary change are companies that exhibit the concept of corporate governance.","PeriodicalId":440516,"journal":{"name":"Proceedings of the 2000 IEEE Engineering Management Society. EMS - 2000 (Cat. No.00CH37139)","volume":"57 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2000-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121224333","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The objective of this study is to analyze the stock market reaction to the recent stream of merger announcements by US telecommunications service providers. The study offers mergers characteristics, classification and an analysis of the motives for the telecom service providers to merge. In order to show the valuation effect of the merger announcements, short-term and intermediate-term cumulative abnormal returns are calculated for bidders and targets for individual mergers and for different groups of mergers. Overall, the authors find that mergers announced by long distance companies are perceived much riskier than those announced by local companies. They also find that there are different stock market reactions for mergers announced by long distance bidders for long distance, cable, and local targets. Some qualitative explanations of these findings are proposed.
{"title":"Stock market reaction to the announcement of mergers and acquisitions in the US telecommunications industry","authors":"T.G. Shusterman, J. Norsworthy, W. Bessler","doi":"10.1109/EMS.2000.872544","DOIUrl":"https://doi.org/10.1109/EMS.2000.872544","url":null,"abstract":"The objective of this study is to analyze the stock market reaction to the recent stream of merger announcements by US telecommunications service providers. The study offers mergers characteristics, classification and an analysis of the motives for the telecom service providers to merge. In order to show the valuation effect of the merger announcements, short-term and intermediate-term cumulative abnormal returns are calculated for bidders and targets for individual mergers and for different groups of mergers. Overall, the authors find that mergers announced by long distance companies are perceived much riskier than those announced by local companies. They also find that there are different stock market reactions for mergers announced by long distance bidders for long distance, cable, and local targets. Some qualitative explanations of these findings are proposed.","PeriodicalId":440516,"journal":{"name":"Proceedings of the 2000 IEEE Engineering Management Society. EMS - 2000 (Cat. No.00CH37139)","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2000-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121246579","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
With the advent of E-commerce, many in the world are able to compete in global markets regardless of language, and cultural barriers, physical distance and national boundaries since products, services, and transaction processes can be re-engineered to adjust to changing business environments. E-commerce has evolved through the basic E-mail and electronic data interchange of the past few years to the sophisticated Web based interactive systems today. What will happen in the future is left to our creative imagination and the potentials are very high. In spite of protectionist trade policies in the political circles both in USA and abroad, globalization is bound to succeed in the world due to the enormous economic benefits that can be accrued by it. Internet and E-commerce which have been responsible for continuing gradual removal of barriers of language, culture and national boundaries will help globalization and accelerate international trade. International organizations like the World Trade Organization (WTO) are already spearheading the policy and regulatory issues in the international scene particularly in the E-commerce environment to reach globalization vision. This paper discusses where have we been? where are we?, and where we may be in the future with reference to E-commerce and globalization.
{"title":"E-commerce and globalization yesterday, today, and tomorrow","authors":"S. Raman","doi":"10.1109/EMS.2000.872510","DOIUrl":"https://doi.org/10.1109/EMS.2000.872510","url":null,"abstract":"With the advent of E-commerce, many in the world are able to compete in global markets regardless of language, and cultural barriers, physical distance and national boundaries since products, services, and transaction processes can be re-engineered to adjust to changing business environments. E-commerce has evolved through the basic E-mail and electronic data interchange of the past few years to the sophisticated Web based interactive systems today. What will happen in the future is left to our creative imagination and the potentials are very high. In spite of protectionist trade policies in the political circles both in USA and abroad, globalization is bound to succeed in the world due to the enormous economic benefits that can be accrued by it. Internet and E-commerce which have been responsible for continuing gradual removal of barriers of language, culture and national boundaries will help globalization and accelerate international trade. International organizations like the World Trade Organization (WTO) are already spearheading the policy and regulatory issues in the international scene particularly in the E-commerce environment to reach globalization vision. This paper discusses where have we been? where are we?, and where we may be in the future with reference to E-commerce and globalization.","PeriodicalId":440516,"journal":{"name":"Proceedings of the 2000 IEEE Engineering Management Society. EMS - 2000 (Cat. No.00CH37139)","volume":"105 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2000-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126785031","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Digital imaging, networking and displays are emerging technologies that are already having major impacts on traditional product segments from consumer and office electronics to computers and communications. They are at the heart of the convergence of previously independent product segments of video and still photography, television, computers, office machines (including fares, copiers and scanners), and communications devices. In this paper, the authors investigate the strategies of two key competitors, Kodak and Sony and the role of previous design, manufacturing, and market experience in the development of new strategies as well as the nature and timing of investment in new technologies and product lines.
{"title":"Strategies for adapting to technological change","authors":"S. Sanderson","doi":"10.1109/EMS.2000.872479","DOIUrl":"https://doi.org/10.1109/EMS.2000.872479","url":null,"abstract":"Digital imaging, networking and displays are emerging technologies that are already having major impacts on traditional product segments from consumer and office electronics to computers and communications. They are at the heart of the convergence of previously independent product segments of video and still photography, television, computers, office machines (including fares, copiers and scanners), and communications devices. In this paper, the authors investigate the strategies of two key competitors, Kodak and Sony and the role of previous design, manufacturing, and market experience in the development of new strategies as well as the nature and timing of investment in new technologies and product lines.","PeriodicalId":440516,"journal":{"name":"Proceedings of the 2000 IEEE Engineering Management Society. EMS - 2000 (Cat. No.00CH37139)","volume":"75 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2000-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129900276","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this paper, the auxiliary service system of the NEKA steam power plant in the North of Iran is analyzed from the reliability point of view. Reliability of auxiliary equipment in a steam power plant directly affects the performance of plant; therefore, the design should be done with special consideration to the auxiliary system. This consideration should include having adequate reserve sources and additional plants of power flow. Usually reliability analysis in large industrial plants needs special consideration. This is due to the complexity and usage of several peripheral devices that prompt consideration of various factors not to be limited to evaluation of a simple connection between the existing equipment. However, the failure of peripheral devices should also be considered as they con affect the overall performance of the system. In addition, before making any analytical studies, a through quantitative study should be done and the failure for different equipment should be defined.
{"title":"Reliability analysis of auxiliary service system of steam power plant in Iran","authors":"S. Bathaee, S. Sorooshian","doi":"10.1109/EMS.2000.872473","DOIUrl":"https://doi.org/10.1109/EMS.2000.872473","url":null,"abstract":"In this paper, the auxiliary service system of the NEKA steam power plant in the North of Iran is analyzed from the reliability point of view. Reliability of auxiliary equipment in a steam power plant directly affects the performance of plant; therefore, the design should be done with special consideration to the auxiliary system. This consideration should include having adequate reserve sources and additional plants of power flow. Usually reliability analysis in large industrial plants needs special consideration. This is due to the complexity and usage of several peripheral devices that prompt consideration of various factors not to be limited to evaluation of a simple connection between the existing equipment. However, the failure of peripheral devices should also be considered as they con affect the overall performance of the system. In addition, before making any analytical studies, a through quantitative study should be done and the failure for different equipment should be defined.","PeriodicalId":440516,"journal":{"name":"Proceedings of the 2000 IEEE Engineering Management Society. EMS - 2000 (Cat. No.00CH37139)","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2000-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128590029","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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