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Full-Text Articles in Engineering
On Valuing Biopharmaceutical Product Pipelines: An Effectuation Model And Evidence, Mark J. Ahn, Anne S. York, Wei Wu, Yulianto Suharto, Tugrul Unsal Daim
On Valuing Biopharmaceutical Product Pipelines: An Effectuation Model And Evidence, Mark J. Ahn, Anne S. York, Wei Wu, Yulianto Suharto, Tugrul Unsal Daim
Engineering and Technology Management Faculty Publications and Presentations
New creative approaches are needed to manage emerging biotechnology innovations, regulations, and payor environments to enhance product pipeline productivity, valuation, and risk management. Biopharmaceutical firms must make dynamic resource allocation decisions on their relative levels of internal R&D and external strategic alliances in furthering their pipelines. As the predominant method of using discounted cash flow (DCF) methodologies may lead to chronic underinvestment and performance, we evaluated the integration of traditional DCF with an effectuation model of analysis. Unlike traditional financial models that begin with the end goal of assumed known cash flows and recursively solve for portfolio optimization, the effectuation …
Fast And Frugal Heuristics For New Product Screening - Is Managerial Judgment "Good Enough?", Antonie J. Jetter, Fatima M. Albar
Fast And Frugal Heuristics For New Product Screening - Is Managerial Judgment "Good Enough?", Antonie J. Jetter, Fatima M. Albar
Engineering and Technology Management Faculty Publications and Presentations
Project screening in the fuzzy front-end of product development is dominantly based on managerial judgment, yet little is known about the quality of heuristic screening decisions. This research models three commonly discussed fast and frugal (F&F)heuristics for project screening (take-the-best, tallying and elimination-by-aspect) and explores their performance. An illustrative dataset of 52 new product development projects is used to compare the performance of F&F heuristics against that of regression models, which reflect compensatory judgment behaviour. The findings uncover a 'less is more' effect that justifies the use of simple heuristics in early stage product screening; two out of the three …
Fuzzy Cognitive Maps To Implement Corporate Social Responsibility In Product Planning: A Novel Approach, Richard Sperry, Antonie J. Jetter
Fuzzy Cognitive Maps To Implement Corporate Social Responsibility In Product Planning: A Novel Approach, Richard Sperry, Antonie J. Jetter
Engineering and Technology Management Faculty Publications and Presentations
Product development can support proactive CSR strategies by changing product features, materials, and processes in order to reduce or even eliminate negative environmental and social impacts. However, the CSR literature provides little practical guidance for new product development, but promotes general principles for responding to environmental and social issues. One of these guiding principles is the concept of stakeholder engagement, but to date, few practical approaches for integrating stakeholder views and needs into product development exist. To address this gap, the paper discusses the use of Fuzzy Cognitive Map Modeling. The method, which has been applied in participatory stakeholder studies …
An Investigation On Fast And Frugal Model For New Project Screening, Antonie J. Jetter, Fatima M. Albar
An Investigation On Fast And Frugal Model For New Project Screening, Antonie J. Jetter, Fatima M. Albar
Engineering and Technology Management Faculty Publications and Presentations
Research in psychology is increasingly interested in decision-makers' use of heuristics or rules of thumb because they have accuracies close to more complex decision rules and seem particularly useful in difficult decision-making contexts when uncertainty is high and speed is of the essence. One particularly difficult decision setting is the fuzzy front-end of new product development because a large number of product ideas need to be screened to identify the few that should be developed further. This process is currently poorly supported through decision tools and mainly occurs on the basis of managerial “gut-feel”. This study explores managerial “gut-feel” by …
Theoretical Framework For Managing The Front End Of Innovation Under Uncertainty, Antonie J. Jetter, Richard Sperry
Theoretical Framework For Managing The Front End Of Innovation Under Uncertainty, Antonie J. Jetter, Richard Sperry
Engineering and Technology Management Faculty Publications and Presentations
A growing body of research suggests that the fuzzy front-end of product development should not be managed with a one-size-fits-all standard process. Instead, projects with different market and technical uncertainties should be managed with one of five different processes (linear, recursive, evolving, selectionism, trial-and-error). Based on a review of the literature, the paper develops a theoretical framework for front-end management which provides the foundation for ongoing empirical research.
Do Maps Guide The Way To Npd Success? Theoretical And Practical Aspects Of Knowledge Mapping In Product Development, Antonie J, Jetter
Do Maps Guide The Way To Npd Success? Theoretical And Practical Aspects Of Knowledge Mapping In Product Development, Antonie J, Jetter
Engineering and Technology Management Faculty Publications and Presentations
New product development success largely depends on the ability to combine newly acquired information on customer demands and technological options with knowledge that exists within the company. Project organization and high employee turnover, however, make it difficult to be informed about what knowledge is available within the company and to access it successfully. Knowledge maps, a popular concept in present knowledge management, offer a possible solution by ?guiding the way to knowledge?. Their purpose, structure and content varies greatly, as does their ability to capture different aspects of knowledge. This paper investigates the theoretical basis of different types of knowledge …
Educating The Guess: Strategies, Concepts And Tools For The Fuzzy Front End Of Product Development, Antonie J. Jetter
Educating The Guess: Strategies, Concepts And Tools For The Fuzzy Front End Of Product Development, Antonie J. Jetter
Engineering and Technology Management Faculty Publications and Presentations
Many companies lack efficient management of the early phases of new product development (NPD) - the socalled fuzzy front end (FFE). Rather than on structured methods, decision makers rely on ?gut ?feel? or ?guessing?. In an attempt to ?educate the guess? this paper discusses the activities and challenges of the FFE, as well as strategies to manage them successfully. It then briefly presents traditional and recent approaches to front-end management support. Based on the identified strengths and weaknesses of existing front-end solutions, the framework of a new management support system for the FFE is presented. Conceptually, the system is based …