Critical Success Factors for New Product Development in Biotechnology Companies. Issue 3 (3rd July 2017)

• Record Type: Journal Article
• Authors: Salgado, Eduardo Gomes; Sanches da Silva, Carlos Eduardo; Mello, Carlos Henrique Pereira; Samaan, Monique
• Is Part Of: Engineering management journal. Volume 29:Issue 3(2017)
• Page Start: 140
• Page End: 153
• Publication Date: 2017-07-03
• Subjects: Biotechnology Companies -- Critical Success Factors -- New Product Development -- Survey Questionnaire; Innovation & New Product Development -- Program & Project Management -- Technology Management; Engineering -- Management -- Periodicals; Engineering -- Management; Periodicals; 620.0068
• DOI: 10.1080/10429247.2017.1344504
• Languages: English
• ISSNs: 1042-9247

Abstract

Abstract: The development of new products has become increasingly critical for the competitiveness of companies, due to increased diversity and variety of products, the reduction of product life cycles, and, primarily, globalization of markets. Thus, the identification and prioritization of critical success factors for developing new products is important, particularly for the high degree of risk and uncertainty involved. The main objective of this article is the identification and prioritization of critical success factors in new product development projects in biotechnology companies in the state of Minas Gerais, Brazil. The research method used was a survey questionnaire, which was sent to a sample of 31 biotechnology companies in Minas Gerais state. The principal findings of this research are that interpersonal skills/relationships of the project leader and technical skills are the most critical factors for successful new product development in this industry. The implications for the biotechnology industry in general, as well as for those responsible for managing new product development, are discussed.