Date: 19 Nov 2013

Leveraging Information Systems for Enhanced Product Innovation

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Abstract

While firms have become more tech savvy, the leveraging of information systems for product innovation remains a challenge to firms, from large multinationals to the smallest start-ups. Successful practices vary, but one commonality is experimentation. As a result, firms are trying out a range of digital initiatives. This study explores three important methods by which firms are using information systems to improve the process of product innovation or new product development. These include: “listening in” to social media, crowd-funding, and virtual product teams.