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New Social Product Development: The Process and Critical Success Factors

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Social Innovation and New Business Models

Part of the book series: SpringerBriefs in Business ((BRIEFSBUSINESS))

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Abstract

In this chapter—through a literature review of the new product development process and innovation for low income markets—a new theoretical framework that describes the development process of social products is proposed. By using this social product development framework and a multiple-case studies analysis on best practices in social product innovation, this book presents factors that are critical to successfully developing social products for low-income markets. Finally, principles for the communication of social products are proposed.

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Notes

  1. 1.

    The term “product” will be used in the sense of its broader meaning to refer to either tangible products or to services (or both).

  2. 2.

    A skunk works is a small group of people who work on a project in an unconventional way. The group’s aim is to develop something quickly with minimal management constraints. Skunk works are often used to initially develop a product or service that thereafter will be developed according to usual business processes. Recently, many companies have created skunk works to solve the problems of inflexibility, slow innovation, and avoidance of change, where innovation could thrive unimpeded by bureaucracy (Ghoshal and Bartlett 1995). The term skun kworks was first introduced during World War II by engineers at Lockheed (Source: http://www.lockheedmartin.com).

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  1. Department of Economic and Political Sciences and Modern Languages, LUMSA University, Borgo S. Angelo 13, 00193, Rome, Italy

    Laura Michelini

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  1. Laura Michelini
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Michelini, L. (2012). New Social Product Development: The Process and Critical Success Factors. In: Social Innovation and New Business Models. SpringerBriefs in Business. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-32150-4_3

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