Effective Corporate Communication: A Solution to Foster New Product Idea Generation Dynamics
To make critical decisions, organizational leaders ensure to collect and analyze information through various sources by employing variety of analytical tools. Consequently, they manage to integrate the results of their analysis to offer diagnostic view by
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Abstract To make critical decisions, organizational leaders ensure to collect and analyze information through various sources by employing variety of analytical tools. Consequently, they manage to integrate the results of their analysis to offer diagnostic view by pinpointing the weak areas. Following the above sequence of analytical procedure, the current study presents a diagnostic review of highlighting weak operational areas in a European multinational company. The study findings suggest that the critical gaps are causing communicational breakdown and consequently affecting new product idea mechanism. Such operational areas include; the potential of target company’s internal communication system, data collection and record keeping capability, management’s approach to harness corporate potential of new idea generation and employee empowerment mechanisms. The referred areas are directly linked to the target company’s new product idea generation initiatives, the activities linked to the introduction of innovative products and service styles as well as the overall operational growth. Keywords Effective communication mechanism Internal communication
Organizational leaders Employees’ empowerment
Idea support
S.A.Z. Kazmi (&) M. Naaranoja J. Kytölä J. Kantola University of Vaasa, 65101 Vaasa, Finland e-mail: akazm@uva.fi M. Naaranoja e-mail: marja.naaranoja@uva.fi J. Kytölä e-mail: juha.kytola@uva.fi J. Kantola e-mail: Jussi.Kantola@uva.fi © Springer International Publishing Switzerland 2017 J.I. Kantola et al. (eds.), Advances in Human Factors, Business Management, Training and Education, Advances in Intelligent Systems and Computing 498, DOI 10.1007/978-3-319-42070-7_94
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1 Introduction According to the surveys conducted in 1997 [1, 2] new products introduced during the period of five years from 1992 to 1997, contributed as much as 50 % of the total revenues and profits, though at the same time, the new product failure rate remained high. To be more specific, an estimated 46 % of the resources that companies devote to the conception, development and launch of new products go to projects that do not succeed and either fail in the market place or never make it to the market [3]. In the light of above, this study survey has attempted to explore the significance of transformational leadership and strategic thinking capacity building initiatives in an energy sector organization. This transformational process is evaluated through the feedback received from the target company’s selected employees, representing product development teams or associated operational workforce with reference to new product development (NPD) idea generation process. In this context, the study starts with literature review of new product development idea generation and effective communication process, and later will go on to develop study hypotheses. The research methodology, analyses of results and research model formation will take place at the advanced level. Finally, the results of the current study will
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