New Product Development is a process that takes ideas, tries them out, and transforms them into products that have market appeal and offer competitive leverage. Successful NPD occurs within a highly specialized environment that receives matter, energy, and information as inputs from an external environment and directs these inputs the NPD transformation process to obtain new products as outputs from the process. NPD functions in an internal environment and exchanges matter, energy, and information with an external environment.
Designing the New Product Development Environment, Fifth Edition
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