Parallel Development of Products and New Business Models
DS 81: Proceedings of NordDesign 2014, Espoo, Finland 27-29th August 2014
Year: 2014
Editor: Miko Laakso, Kalevi Ekman
Author: Lund, Morten; Hansen, Poul Kyvsgaard
Series: NordDESIGN
Institution: Aalborg University, Denmark
Section: Management and organization of design and development
Page(s): 632-641
ISBN: 978-1-904670-58-2
Abstract
The perception of product development and the practical execution of product development in professional organizations have undergone dramatic changes in recent years. Many of these chances relate to introduction of broader and more cross-disciplinary views that involves new organizational functions and new concepts. These chances can be captured in various generations of practice. This paper will discuss the recent development of 3rd generation product development process models and the emergence of a 4th generation. While the 3rd generation models included the concept of innovation and innovation management the 4th generation models are increasingly including the concept business models and business model innovation.
Keywords: Business models, product development, innovation, value creation