Book Description
Winning by not competing: a fresh approach to strategy Since the dawn of the industrial age, companies have engaged in head-to-head competition in search of sustained, profitable growth. They have fought for competitive advantage, battled over market share, and struggled for differentiation. Yet these hallmarks of competitive strategy are not the way to create profitable growth in the future. In a book that challenges everything you thought you knew about the requirements for strategic success, W. Chan Kim and Renée Mauborgne argue that cutthroat competition results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool. Based on a study of 150 strategic moves spanning more than a hundred years and thirty industries, the authors argue that lasting success comes not from battling competitors, but from creating “blue oceans”: untapped new market spaces ripe for growth. Such strategic moves—which the authors call “value innovation”—create powerful leaps in value that often render rivals obsolete for more than a decade. Blue Ocean Strategy presents a systematic approach to making the competition irrelevant and outlines principles and tools any company can use to create and capture blue oceans. A landmark work that upends traditional thinking about strategy, this book charts a bold new path to winning the future.
Customer Reviews:
Question the status quo.......2007-09-25
The book forced me to rethink the way I normally would look at business developments for my companies: either value based or feature based. The idea of a creating new space in a crowded market and making a leap in growth through the blue ocean strategy stirred up my thinking juices. Personally, I don't like how to books with "three simple steps" This book was great; a must read.
Good Book.......2007-09-24
1. This is NOT a marketing book
2. There is no such thing as a fail safe strategy
3. This is a tool and is only as good as the user
4. Applicable in different situations
5. Good companion to Competitive Strategy written in the 80's by Mike Porter which is THE industry book
6. The book is NOT a pioneer and is NOT proported to be. It is a study in those companies who seemed to have created new markets such as Cirque De Soleil. The authors did NOT set out to create a new "theory" and then retroactively "fit" companies but rather study an emerging pheonom. and try to locate patterns.
I think that pretty much covers all the gripes of the previous entries. I first came across this book in a competitive strategy class in a business organizational change degree. It is an excellent text and gives another viewpoint to the old study of competitive strategy. I have used the strategy canvas tool located in chapter two AS A TOOL to assist me in both departmental and industry situations to locate existing patterns of competition.
Worth the money.
But then, I am just a "mere" academic (albeit with many years of industry experience) so if you truly do not like the book I suggest returning it. :)
What is your greatest challenge?.......2007-09-13
The greatest struggle for most business people is to come up with a truly original and valuable idea. Close behind that is how to get employees to work together. This book makes me want to cry, because it actually, simply, lays out how to do both. Beautiful.
Academics rarely demonstrate how to do it!.......2007-09-11
I bought this book. Their identifications are valid enough. Great companies have always created uncontested market space while making their competitors irrelevant. This is not in dispute. However...
The authors Chan Kim & Renee Mauborgne are just mere academics. And what is annoying is that they haven't battle tested their Blue Ocean model from hard knocks in the trenches business wars to find out what works and what doesn't for themselves! Again, this is what I find annoying with academics. They say a lot but never prove it themselves! Remember Merton & Scholes and LTCM?
For an example...in the book, the authors have an interesting strategic canvass graph approach that supposes to prove how Blue Ocean events come about. That's fine, but how do you prove it? Moreover, the 'values' are different for each company, so there is nothing consistent to glean from this.
What I'd like to have seen is a Dash Board type matrix template that allows any company or budding entrepreneur to carry out Blue Ocean due diligence on any industry or market niches...proofing these Blue Ocean catchments from a zero learning curve application! The book does have important points but lacks the cutting edge tools to unify Blue Ocean diligence and proofs for any company!
Thus, what this book lacks is a more honed processing of enquiry from the authors. And I suspect this to be the case because like many academics they haven't proven the unifying dynamics that goes into capturing Blue Ocean strategies for themselves with businesses they have built through their own mindset!
Again, this book is a case of 'do what I say, because I don't have to prove what I say'.
There are great industry shapers out there who can shift and move whole industries and markets in their favour...but the authors of this book are not one of them.
However, there are great positives the authors have identified. The book contains a very interesting 'Strategic Grid' technique. From this simple grid technique any one can mentally survey how to change one's industry or market from a macro-vantage point. But shifting and moving your new found Blue Ocean grid at a tactical level to rule your competition making them irrelevant is another matter entirely. The chapters that explain this grid are worth the book, but don't expect any thing else.
What you really want is a knowledge base that allows you to dig out Blue Ocean criteria from a template of enquiring tools STACKED PROCESS BY PROCESS UNTIL YOU PROOF YOUR OWN BLUE OCEAN POWER. This book fails on this!
I would suggest that any one buying this book should read 'Blue Print to a Billion by David Thomson to understand how real Blue Ocean executions are carried out correctly. In addition, Chet Holmes' Ultimate Sales Machine' gets you to understand how to carry out big frame strategies at the tactical level.
Both these books will plug the holes lacking with Kim & Mauborgne's work.
Blue Ocean Strategy.......2007-09-10
I like the non text book clear presentation. You do not have to have an MBA to enjoy and learn from this book.
Book Description
The completely revised and updated "bible"of new product development: The PDMA Handbook of New Product Development, Second Edition.
The PDMA Handbook of New Product Development, Second Edition provides a comprehensive, updated picture of what you as a manager need to know for effective new product development. The book's concise, map-like detail acts as a compass, offering practical information pertaining to every stage of the product development process -- from idea generation to launch to the end of the life cycle.
Whether you're a novice or an expert, this edition is ideal as it provides both fundamentals and reliable information on advanced and emerging concepts such as accelerated product development, new product development globalization and benchmarking, and Web-based concept development.
Customer Reviews:
Second Edition.......2007-04-11
This is the "Bible" for NPD professionals. An excellent addition to the guides by Cooper and Crawford.
PDMA - Handbook for new product development.......2007-01-12
Haven't read from cover to cover, but proving to be an excellent reference. Good examples from industry reinforce key messages. Haven't learnt anything groundbreakingly new, but it has been a good confirmation or fine-tuning reference when needed.
Product Marketing Professionals - BUY THIS BOOK!.......2002-03-14
The PDMA Handbook is one of those rare and valuable books that characterizes a "body of knowledge" for a professional discipline. It was produced by the preeminent industry organization for New Product Development (NPD) professionals, the PDMA .... This text describes current, best practices in NPD and includes contributions from knowledge leaders in academia, consulting, and industry practice. If you are a CEO, COO, CTO, Marketing Manager, Product Manager, Product Planner, Engineering Manager, Project Manager, Program Manager, or any other professional involved in new product development (especially for technically complex products like hardware and software) you really need this book.
Product Managers (should) perform the nitty, gritty, roll-your-sleeves-up: opportunity analysis, business case formulation, and requirements management for new products. Research shows that judicious performance of this critical pre-work is a key determinant in the ultimate market success of new products and is usually performed inadequately. Unfortunately, most professionals in such roles have had no formal training beyond an MBA (sometimes). The PDMA Handbook provides a comprehensive treatment of virtually all the subject areas new product development (business) managers need to understand to drive the success of their endeavors. Want to know the key success factors for new products, understand value proposition, differentiation, features vs. benefits, uniqueness, sustainable competitive advantage, the fuzzy front end, pipeline management, how to plan a new product launch, manage a product portfolio, and more? This is the book you need. The PDMA Handbook is the Gray's Anatomy of product management. Buy it and READ it at least twice.
This book should have been read when it was published!.......2001-08-19
This book seem to be written by persons who really know what NPD (or NPI) really is. All those described mistakes possible to be done is made by me during last five years...this is a good book.
The area of NPD is large. Luckily people in PDMA have come to the right conclution: it is not possible for one person to handle the whole area throughly. Every chapter in this book is written by expert on his/her own area. Unfortunately the maximum size of one book restricts the possible space per one writer to include only the most vital parts into this book.
To whom I can recommend this book? --- To anyone who will to increase his/her own scope of NPD and especially to a person who already have gained some experience on this field and is able to compare his/her own experiece to this book.
Wonderful!.......2000-02-02
I purchased the PDMA Handbook on the strength of a review and have been very glad I did so. After quoting a few passage to my staff they began to borrow it, and now the Handbook has made the rounds of the office. It is worn and dog-eared, and quoted from on a daily basis.
The message of "treating each other with respect and dignity" by author Holahan et al has really struck a chord around here. Many of us believe she must be staunch Christian, one who lives her faith on a daily basis.
The PDMA Handbook has provided guidance in mapping out strategies for new services we hope to bring to market as well as the way our organization is managed. It has changed the way we do business and the way we percieve the world.
Book Description
A practical, no nonsense guide to assist those who would like to begin their own sewn products business, explaining many of the pitfalls that they can now avoid.
Customer Reviews:
Worth it.......2007-09-17
This book is worth every penny. It isn't about how to sew, and it isn't about getting rich quick. It's about how to start and run a GOOD business. Every chapter basically includes a "So this is what you want to accomplish...Here is how most people screw this up...Please don't do that, do it the right way and be better!" It's worth buying, highlighting, rereading and using on a regular basis.
You Must Buy This Book!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!.......2007-08-09
If you are a DE or are planning to be this is the best resource to have. It answered all the questions I had as well as ones I had'nt thought of. I recieved my book a couple of days ago and I've read it cover to cover totally devouring it! Kathleen is so generous in sharing her vast knowledge and inspires you while keeping a clear and rational perspective of the industry. After reading her book, I feel more confident and educated yet humble and level headed. You need to buy this book!!!!
Now so many things make sense.......2007-05-24
From a homesewer's perspective -
I cannot recommend this book, and Kathleen's website fashion-incubator.com, enough.
Buy the book from Kathleen, read it cover to cover. Read her blog starting at the first entry.
The amount of knowledge contained in her efforts is astounding. And, as opposed to most textbooks I've encountered, the information is concise and well illustrated.
I'm off to buy gobs of Pro-Tricot Fusible. :) Thanks Kathleen.
The must-have book..........2007-05-16
I've never written an Amazon review before, but this book deserves it. Not only is it easy to understand, the format is intuitive and the helpful worksheets really keep you focused. This is the first book I've purchased on the subject, based on other's reviews... and I have to say, they were all right. BUY IT!
Entrepreneur Tested and Approved.......2007-03-26
I was sourcing a hard-to-find fabric recently and used Kathleen's book line-by-line in my conversation with the dealer. I was amazed at how Kathleen had predicted, verbatim at times, how the conversation would go. There's no doubt that she knows her stuff. This is the most useful book for the design entrepreneur I've seen, and written like a friend who gives you the unvarnished truth...like it or not!
Book Description
The 4th Edition of Strategic Management of Technology and Innovation by Burgelman, Christensen, and Wheelwright continues its unmatched tradition of market leadership, by using a combination of text, readings, and cases to bring to life the latest business research on these critical business challenges. New co-author Clay Christensen provides his insights on innovation management and new market entries through several new cases. Approximately 40% of the cases are entirely new to this edition. Strategic Management of Technology and Innovation takes the perspective of the general manager at the product line, business unit, and corporate levels. The book not only examines each of these levels in some detail, but also addresses the interaction between the different levels of general management - for example, the fit between product strategy and business unit strategy, and the link between business and corporate level technology strategy. Each part of the book starts with an introductory chapter laying out an overall framework and offering a brief discussion of key tools and findings from existing literature. The remainder of each part offers a selected handful of seminar readings and case studies. Almost all of the cases deal with recent events and situations, including several that are concerned with the impact of the Internet. A few "classics" have been retained, however, because they capture a timeless issue or problem in such a definitive way that the historical date of their writing is irrelevant.
Customer Reviews:
Good.......2007-08-01
This is a textbook for my class. The information is chock full of case studies. The studies are written in a way that they are understandable and easy to follow, more of a story rather than a lecture. This is not a book that you read from cover to cover, but would instead refer to for a specific instance. It is dense and heavy but all told it is very acceptable as a text.
Comprehensive, but weird and boring.......2006-11-10
I bought this as a textbook for one of my classes. Overall, this is a decent book on strategic management of technology and innovation. I think some of the articles in the book are really good, but the book is very disorganized and hard to read. I would recommend it, but it seems that the editors should address major organization issues in the next addition.
very technical.......2006-02-24
The book was ok but it made for very difficult reading; it was very technical. I had to purchase it for class. Luckily I had a good professor who could break down the concepts more clearly. I would, however, suggest that Devry get an easier book to digest next time.
Strategic Management of Technology and Innovation.......2005-10-24
This book includes many good papers and many hi-tech business cases associated with technology and innovation management. Some of them are a little old but still useful to understand strategic management. If you have learned general management and marketing and want to get a view of the management of technology and innovation, this is worthwhile reading.
a useful collection of case studies and key papers.......2000-03-17
This book offers a large number of case studies from the areas of research and technology development in various industries. It covers most the important concepts of technology management such as "core competencies". It follows the traditional model employed in business schools: learning from others' experiences by means of case studies. Particularly relevant are the sections on "heavyweight teams".
Book Description
New Products Management, 8/e, by Crawford and Di Bennedetto provides future new product managers, project managers and team leaders with a comprehensive overview of the new product development process including how to develop an effective development strategy, manage cross-functional teams across the organization, generate and evaluate concepts, manage the technical development of a product, develop the marketing plan, and manage the financial aspects of a project.
Customer Reviews:
Careful, this is the review guide not the text book.......2007-03-08
The review guide is okay. I couldn't tell from the listings that this was not the text book I needed but rather the review guide.
For daily needs.......2007-01-05
I manage a large portfolio and it is imperative that new products are properly launched. With this book I actualy have my responsibilities very nicely overviewed right in front of me.
It precisely describes the process, through which a new offering should be taken.
Great buy!
New Products Management.......2006-08-15
Let's face it, texts are not becoming any cheaper. While not escalating like tuitions, they are more than they used to be 20 years ago, inflation included. For that increased amount, the text better be damn good and chuck full of material to get the new student on the right path, and the professor on course with the latest material.
So does this book fit the bill? Yes and no. A lot of this is rehashed material from what I can see pertaining to methodology, but there is a strikingly large amount of mention to recent products. This may be because the book was originally written in 1983, with seven updates including the '06 version.
I am not an educator so will leave this one to the professionals to decide if the newer text warrants the wrath of the students for a new edition or not.
For educators and students and product managers who used to be engineers (there are more than you think out there).
Note: why do textbooks look like text books? The design is very 80's.
Quite useless.......2005-04-23
Many points/ideas are common sense.
Many points/ideas are repeated in multiple chapters.
It just uses too many words on simple topics.
This 550-page book can be easily rewritten in less than 100 pages.
A Good Overview of The New Products Process.......2001-01-30
The book is organized into five parts:
Part I - Overview and Opportunity Identification/Selection; includes an introductory section and The New Products Process, and Opportunity Identification and Selection.
Part II - Concept Generation; includes sections on Preparation and Alternatives, Problem-Based Ideation, Analytical Attribute Approaches.
Part III - Concept/Project Evaluation; includes sections on The Concept Evaluation System, Concept Testing, Full Screen, Sales Forecasting and Financial Analysis and Product Protocol.
Part IV - Development; includes sections on Design, Development Team Management, Special Issues in Development and Product Use Testing.
Part V - Launch; includes sections on Strategic Launch Planning, Implementation of the Strategic Plan, Market Testing, Launch Management and Public Policy Issues.
The book is a thorough overview of the product planning process, and a very useful validation for someone who had already been involved in product planning. The book could have been enriched considerably by the use of more case studies and examples. The Applications section at the end of each chapter was meant to be a method of reflecting upon and putting into practice some of the ideas learned in the chapter; but the questions were oddly written and there was no "answer key" or discussion of those questions, so I didn't find that section useful at all.
Book Description
If you're in new product development, or simply work in management and depend on new products for your livelihood, this is definitely the must-read of the decade. You're going to love the increased productivity and the freedom to be creative of this new product development system.
Where do you suppose it originated? Toyota, wouldn't you know. If familiar with what's going on in industry today, you're already aware that the Toyota Production System is the envy of Western manufacturing. Companies like Dell Computers and Pella Windows are using it to sock it to their competition. But did you know that Toyota's new product development system is just as important to the ongoing success of Toyota? Consider this. Toyota's new product engineers are 400 percent more productive than those employed by most companies. Talk about productivity. It's enough to make top management want to dance a jig. This book explains that system and how it can be implemented.
Hold on. Before you click the order button, or surf to another site, let us make you aware of one more very important thing. The Toyota new product development system this book explains has very little if anything to do with the Toyota Production System. The former is how Toyota develops new products. The latter is how Toyota manufactures them. Both systems deliver extremely high productivity, both free people to do their best, but beyond that, there really aren't many similarities. You need to read this book to find out why. Believe us when we say, no company that depends on an ongoing flow of new and improved products can afford to ignore the revelations it contains or the potential advantages in terms of productivity and creativity that can accrue from following the method outlined in Product Development for the Lean Enterprise.
Customer Reviews:
Almost Perfect.......2006-09-01
Everything written is a bullseye with the exception of glaring ignorance regarding Six Sigma - what it is and isn't. What is written relative to Lean here should be taken verbatim as applying to Six Sigma also - there is no difference. Similarly, the written characterizations of Six Sigma should be ignored. To quote Senji Nihwa, Taiichi Ohno's lieutenant at Toyota for decades, in a good-natured ribbing, "You Americans, always trying to categorize things. Call it Lean, call it Six Sigma, it makes no difference to us...it's all the same." And so it is.
The book is extremely well written and accurate with the exception noted above. If readers can simply meld the descriptions as also being characteristic of a Six Sigma organization, and discard the mischaracterizations of Six Sigma as written, they are in for a very positive learning experience.
Thumbs up!.......2006-04-03
Thumbs up, but I'd recommend you attend his workshops over the book if the opportunity presents itself.
The book is written as a fictional account of a company's journey from process hell to an environment where engineers can devote themselves more completely to the craft they love. It is complete with protagonists and antagonists. The many men and women who have devoted large portions of their careers to wrestling with new product development process issues and trying to improve the quality and efficiency of product development processes may justifiably take offense at being cast as the antagonist, but it wouldn't be much of a story without the villains.
The book raises some very good issues and points out some very good practices that have contributed to Toyota's success. Toyota's design philosophy is optimized for lowest possible risk to model year goals. American management teams would do well to think about optimizing for low risk instead of highest efficiency and lowest development cost. For many companies the cost of developing a new product is a fairly modest portion of their overall cost structure and the price they pay for missing new product introduction dates is far greater than the gains from tailoring their internal processes for the lowest cost development.
The implementation of highly redundant development paths (called sets in the book) will be far less revolutionary than the book would have you believe. It really comes down to a willingness and ability to make the necessary investments. Readers who have studied Japanese companies will find much that is familiar. Publicly held Japanese companies are far less driven by quarterly results than are their American counter parts. Japanese companies typically have few (if any) small stockholders looking for short term gains. The largest stock holders in a Japanese company are often other Japanese companies. They tend to set long term strategic goals e.g. to dominate the world car industry in 5 years. While these businesses must make money to sustain themselves they are content with smaller earnings than their American counterparts making it possible to re-invest larger portions of their revenues back into the company. Some of that reinvestment shows up as investment in engineering work that reduces risk to new product introduction dates. But make no mistake about it, there are no miracle cures. During the initial stages of introducing a risk adverse strategy you are getting less (new features) with more (investment), but on time, likely with better quality, and you can build economically on that investment for a future stream of new products.
Efficiency can be a huge problem, but not always. In many organizations engineering efficiency is disappointingly low. The book tries to make the case that Toyota's engineers are 4X more productive than the engineers of the fictitious company in the book (approx. 80% productive compared to ITRs 20%). The measure of productivity is not explained, but it is implied that it is simply the number of hours/week that engineers spend engineering instead of (presumably) unnecessary process compliance. It is unlikely that Toyota's engineers are on average really 4X more productive than the best of American engineering teams. A comparison between Toyota's engineering and one of America's best is probably a better comparison than a fictitious engineering team. The book does not sight any objective evidence for the 4X claim. Although few companies share their productivity numbers, 65% is a widely accepted number for staff utilization. If Toyota's staff utilization really is 80% then that would put them about 1.23X more productive. In actual fact productivity is far more complex to measure and since it is so complex many observers chose a metric and then measure changes rather than focus on an absolute #. Lack of evidence aside, the book does highlight some interesting opportunities for improvement in the area of knowledge retention and reuse.
I have no doubt that there are companies whose developers are 20% productive. Lack of stability in the organization is certainly a contributor. The ineptitude and unending churn of engineering management teams is a frequent cause. Many companies have suffered at the hands of corporate management teams looking for quick fixes to the perception that their projects take too long, cost too much, and fail too often. They are often executives who have no engineering experience and no way to objectively assess the performance of their teams. They are driven by fear and uncertainty. They have often set goals that are hopelessly impossible to begin with. The result from the engineer's perspective is an unending stream of organizational change meetings to roll out the new engineering management team, introduce their dramatic new ideas, and get the teams trained. This is immediately followed by or coupled with a call to heroic self-sacrifice in an effort to meet the hopeless goal with the new structure. Sound familiar? If you we're drawn to this book it probably does.
The first thing that any student of Japanese industry learns is its strong reliance on life-time employment. While there has been some decline in longevity in recent years it remains the expectation for most Japanese employees entering the workforce. The long-term expectations and thorough understanding of the company and its markets which the most senior managers obtain during their long careers fosters more emphasis on incremental improvement rather than radical re-birth. Either strategy can work, but the highest probability of long-term success is with the incremental improvement paradigm.
Mr. Kennedy is a joy to talk to with a refreshing directness and wealth of experience. The book has a "sensational" tone, but you'd expect that in a work that was intended to get your attention and interest. The advice he offers in person is well reasoned and sound. Well worth the price of admission.
Highly Recomended for anyone interested in Product Development.......2006-03-23
For anyone interested in the next stage of Product Development -- this is a must read. The Toyota system encorporates what I felt has been missing in the product development process for so long. It takes into account the chaos that exists during development and actually encourages it instead of covering it up.
I've beginning to incorporate these concepts into our process and am excited about the results I'm seeing.
Best book available on lean development........2006-01-31
Even in the academic literature, there is no better reference. Note: do not buy the book "the minding organization" where the author refers to in the book.
Interesting Perspective.......2005-07-29
I like this book. The "story-like" format of this book is entertaining but it gets a little old for a hard core techy like me. I definitly gained some interesting insights into the Toyota development system but would have liked more focus on the facts and the theories than on the story that was used to convey the message. The ideas are very enlightening, surely valuable, and worth the read. I can over look the style to get to the ideas. It was an easy read and the "story" moved along nicely. I recommend this book but would like to find one without the fluff of the "story" vehicle.
Book Description
Revised and updated techniques to achieve top performance in product management
The Product Manager's Handbook takes the mystery out of this field by detailing how to integrate aspects from production and coordination to value maximization into a cohesive whole, while examining key international issues, new technologies, and the financial side of product management.
Download Description
This second edition of
Customer Reviews:
Great starting point for Product Managers.......2007-09-03
This book is probably the best overall guide for Product Managers I have seen. It is very broad in places because it tries to remain as applicable to Product Managers of all kinds of products, from shampoo to TVs to computer software. The concepts of Product Management are the same, regardless of industry, but the reader needs to be capable of translating broad concepts into something applicable to their own setting.
The book does a great job of describing the scope of a Product Manager's role and the types of things a Product Manager should be thinking about. This is particularly useful for new Product Managers or for experienced Product Managers that want a reference point for helping explain their role to others (often one of the greatest challenges for a Product Manager).
Product Manager must have.......2007-01-16
This book is is a must have for someone that want to have a good understanding of a Product Manager area of competency. It has real-life interviews related to challenges/solutions associated to this role. I absolutely recommend this book for someone that want to have a good understanding of what Product Manager entails.
Provides insight into the roles & responsibilities of the product manager.......2006-08-18
This book gives a good introduction into the roles and responsibilities of a product manager. It makes no assumptions of any prior knowledge or experiences. For each chapter, it provides worksheets or process flow charts. In addition, case studies of actual events are presented. At the end of each chapter, it provides a set of checklist. Therefore I will recommend this to any reader interested to know more or making a career change.
Overall, this book provides an excellent overview of the on-goings within business processes. Below is a brief summary.
This book is divided into 4 parts. Part I gives an introduction into product management. Part II highlights the process that the product managers (PMs) can use in their annual planning activities. It provides a format or guidelines for the annual product marketing plan. Part III highlights the analytical skills of PMs, which is to evaluate existing product line and to determine & implement new product strategies. Part IV elaborates on the marketing skills necessary for a successful product line. Special attention is devoted to pricing and marketing communication decisions and activities.
Briefly, product management is about the planning, forecasting and marketing of products and services. There is a need for PMs to be cross-functional leaders. The overall responsibility of the PM is to integrate the various segments of a business into a strategically focused whole, maximizing the value of a product by coordinating the production of an offering with an understanding of the market needs and requirements. PMs manage not only products, but projects and processes as well. The PM's job is to oversee all aspects of a product/service line to create and deliver superior customer satisfaction while simultaneously providing long term value for the company.
In terms of time allocation, the PM typically spends 40-55% on day-to-day activities, 20-30% on short term activities and 15-25% on long term or strategic activities. Therefore excellent time management is crucial. Examples of day-to-day activities are maintenance of product fact books, motivation of the sales force and distributors, collection of marketing information including competitive benchmarks, trends and opportunities and customer expectations, acting as liaison between the sales, manufacturing and R&D, etc teams. Examples of short-term activities are controlling budget and achieving sales goals, participation in annual marketing plan and forecast developments, working with advertising departments or agencies to implement promotional strategies, coordinating tradeshows and conventions, participation in new product-development teams and predicting and managing competitors' actions, modification of product and/or reduction of costs to increase value, recommendation of line extensions, participation in product elimination decisions, etc. Examples of long term strategic activities are creation of long term competitive strategy, identification of new product opportunities, recommendation of product changes, enhancements and introductions, etc.
PMs need a variety of knowledge including product/industry knowledge, business knowledge and interpersonal/management knowledge. In the beginning, PMs typically spend most of the time gathering and organizing information on products, customers and their competition. Product knowledge is paramount. As they gain experience, the focus shifts to more comprehensive business knowledge, including finance, marketing and strategic planning. At the same time, they develop team building, negotiation, communication and leadership abilities. For PM to be effective, they need to build bridges throughout the company and be cross-functional leaders. For product management or marketing management, the emphasis is on being market-driven and not product-driven.
In terms of new product development, the role of the PM will be to represent the voice of the customer, balancing the corporate ROI (rate of investment), customer satisfaction and the manufacturing cost. Whereas for strategic interactions, the PM must work continuously with operations to improve and enhance production line. PMs are frequently involved with operations on cost-reduction projects.
Top notch introduction.......2006-07-31
I agree with most of the other reviewers. This is a top notch introduction to project management. Compared to the previous edition, this edition has added more case studies and interviews with professionals. It has also been reorganized to move the "introducing product management" sections to the end of the book.
I used it in conjuction with Profitable and Successful.......2006-06-13
This is another book that forms the trio of my reference shelf in marketing (The others Succesful Product Management & Sucessfull Product Management). Again, this book gets you in the ready-action mode you need to keep focused on what really matters of your product dynamics.
Book Description
The definitive guide on how to manage your company's product portfolio for maximum long-term growth-fully updated and expanded.
In this fully updated edition of Portfolio Management for New Products, the authors present a rigorous and practical approach to managing a company's product portfolio as you would a financial portfolio-investing for maximum long-term growth. With its field-tested, step-by-step framework, the book provides corporations and managers with the strategies they need to assess and realign their current R&D operations; determine which products are most worthy of resource allocation; design and implement a portfolio management process; maximize the value of their portfolios; and recognize and solve challenges as they arise. This book will be an essential resource for any company whose profitability, and very existence, relies on the products it chooses to develop and the speed with which it brings them to the market.
Customer Reviews:
Comprehensive catalog of portfolio management techniques.......2007-08-17
Three professors, Robert G. Cooper, Scott J. Edgett and Elko J. Kleinschmidt, wrote this book. The good news is that they really know their stuff; the less-than-great news is that they write like, well, professors. The book is hampered by academic prose, qualifiers, tangents and a scholarly, if balanced, reluctance to commit completely to most propositions. We find that readers seeking a comprehensive catalog of product portfolio management techniques will benefit from the detailed initial chapters. Meanwhile, readers who are in search of practical, applicable information will find more of what they want in the later chapters.
Portfolio Management.......2007-04-11
Great guide for those with multiple NPD projects in the pipeline. Best when used in conjunction with "The PDMA Handbook of New Product Development, Second Edition."
Actionable approach and excellent reference.......2004-03-30
The purpose of this book is to provide the reader with an actionable approach for implementing a product-oriented project portfolio management process which corporate leaders can use to ensure that the organization's portfolio delivers value, is balanced, and is aligned with strategy.
While the book addresses product-oriented projects, it seems well suited to limited generalization to aid the non-product based project portfolio.
The Thesis
The authors state that a portfolio process is key to success since projects operationalize strategy. To determine how well organizations manage their product project portfolio, they evaluate leader satisfaction with the process the organization uses along six metrics:
* Projects aligned with business's objectives
* Portfolio contains very high value projects
* Spending reflects the business's strategy
* Projects are done on time (no gridlock)
* Portfolio has good balance of projects
* Portfolio has right number of projects
While I think this is a good list for any project portfolio manager to begin using, I note that this survey is simply a ranking of leader satisfaction with leaders in organizations which use portfolio management. The authors did not try to link leader satisfaction with business success. It is difficult to prove that portfolio management led to business success, but one might assert that a measure of portfolio management on business is not fair because what one is really measuring is strategy success. The goal of portfolio management then might be stated as alignment with strategy, not business success. I think an organizational survey asking senior leaders to rank satisfaction along the six metrics might be interesting - how many of the questions can they answer at all? Presumably, knowing the answers and being dissatisfied with them might be better than not knowing the answers.
Actionable Information
This book is well organized and appears well researched. This is not surprising given that it was written by academic professionals. What is a little surprising, given the authors' profession, is that is so thoroughly action-oriented. The authors never seem to loose sight of the fact that if portfolio management is to help an organization it must be implemented. Over and over again, they point out pitfalls, limitations, cautions, and implementation steps for overcoming these. I expect to use this book often to fill in the gaps in other approaches, leaning heavily on the best-practice implementation suggestions they authors recommend in suggestions tailored to specific goals.
Among the useful, researched insights was this one: "Those businesses that use financial models as the dominant portfolio selection method end up with the poorest-performing portfolios!" (p 169). One reason for this (in product portfolios) is that the sophistication of the financial tools exceeds the quality of the predictive value data. Conversely, businesses that rely principally on strategic models outperform the rest. Allocating resources to strategic areas seems to work well, and we are reminded that "strategy begins when you start spending money" (Ibid).
Conclusion
Many books are over-blown magazine articles. This is not one of those books. The authors did a lot of plain hard work bringing this book together and it shows. They authors never forget that someone must sell the notion of portfolio management to senior leaders, then provide them with specific, relevant and actionable information to make difficult and important project decisions with strategic impact. I appreciate the fact that the authors frequently provide suggestions on how to keep thinks simple, starting small and scaling sophistication as processes are prototyped, then refined and adapted in specific organizations.
There is a possible limitation in how appropriately one may generalize these approaches to non-product-oriented project portfolios. This book does such a good job talking about project portfolio management that the reader can forget at times that the book is about product project portfolio management. It may be that some of the research findings do not apply or cannot be generalized with validity to other types of project portfolios. The reader should keep his grain of salt handy. However, there are still too few project portfolio management books available, especially books based on research, so this is a very useful reference. By way of balance, it does not seem too far a stretch to use this book for other, non-product project portfolio management since the aim of the process is to align projects with strategy, obtain high value from projects, and obtain a balanced portfolio of projects. These are good goals for any portfolio, and organizations are free to define and measure dimensions however they wish.
Possibly the highest compliment I can pay the authors is to say that having read the book, my copy is full of underlined passages and pages encumbered with sticky-notes. This book will not gather much dust on my shelf - at least not for quite some time.
No theory behind an incomplete collection of case studies!!.......1999-03-18
Huge disappointment. Chapter 1, page 1 starts with "Those
companies that succeed at new product dvelopment are the future
Mercks, HPs, 3Ms, and Microsofts; those companies that fail to excel
at developing new products will invariably disappear or be gobbed up
by the winners. .....". Despite this quite promising catch
phrase you will not find a single word on how the above mentioned
companies develope new products.
Things actually get worse. What you
will find in this book are random generated case studies on various
portfolio models the authors encountered in the few firms willing to
meet them - no theoretical framework is given on portfolio management,
criteria to be included and best practices in various industries.
As
a major disappointment I found the fact that not a single case/best
practise study came from the pharmaceutical industry and the software
industry, those industries where portfolio management/selection are at
the very heart of the strategic management process. It would have been
a huge (and logical) opportunity to cover in this book how Merck or
Pfizer steer their new product development processes. But don`t look
for clues to this questions in this book. The case studies you will
find in this book are about a small Canadian bank, a small US chemical
company, and about Hoechst US. The last case study offered at least
some ideas useful for improving the portfolio management process (that
is the main reason for the second star).
Somewhat disturbing are
platidudes widely used throughout the book (e.g. " ....Remember:
understanding the problem is the first step to a solution!
.... (p. 184)). If esclamation marks after platitudes make you
nervous, then you will probably throw this book away before reaching
page 100.
The only bright side of this book are the first 20 pages,
where the authors discribe present shortfalls of the portfolio
management process currently used in some firms (i.e. in the firms
they interview, and these firms are underperformers). It helps to get
an idea of what effective portfolio management should do - and these
points are very agreeable indeed (e.g. value creation, balance,
strategic fit). That these questions are inadequeately and only
empirically adressed in this book, is a source of frustration for its
readers. I would give only a very very weak recommendation for this
book....
databaseU
An analysis of current thinking in portfolio management.......1999-03-09
In this text, the authors thoroughly review the methods currently being practiced in companies to make decisions about their investments in new products and technologies, and the success of these various methods. They recognize the difficulties of making such decisions, especially by relying on simple processes without understanding shorfalls of the process and the robustness of the data. They focus on the goals of maximizing value, achieving a balanced portfolio and linking the decisions to business strategy. They tie this process into other key processes in the company, including the product development process and the new product strategy. By far the most valuable aspect of the book, however, is the link between process and real operation provided by the "Points for Management to Ponder" commentary which runs throughout the book. This is a current, encyclopedic and practical guide to this very difficult business process.
Customer Reviews:
Develop New Products Rationally.......2007-09-19
The authors argue Rule Developing Experimentation (RDE) is the key to developing new products.
Unfortunately for shareholders, during the past 15 years marketers have dominated product development. The result: more than 90 per cent of product launches and re-launches fail.
RDE is a process of designing, testing and modifying alternative ideas, packages, products, or services. It is disciplined. It reveals to the developer and marketer what appeals to the customer, even if the customer can't articulate the need.
It contains seven steps:
1. Consider the problem; identify features that may comprise solutions.
2. Mix and match the features in experimental designs.
3. Show the prototypes to consumers.
4. Analyze their reactions.
5. Optimize your prototypes.
6. Identify attitudinal population segments.
7. Apply the rules to create new products.
Howard Moskowitz is experimental psychologist in the field of psychophysics. Alex Gofman is widely published, technology-oriented experimental psychologist. They argue RDE delivers cost-effective actionable results tied to business directives. As a shareholder, I argue, RDE is worth a try.
Learn how to turn your old products (pink elephants) into new products (blue elephants).......2007-08-11
When I first saw the title of this book, I was reminded of a skit I once saw featuring ventriloquist Edgar Bergin and Charley McCarthy. Charley asks Bergin "How do you kill a blue elephant?" and when Bergin asks the question, Charley's response is "Shoot him with a blue elephant gun." Charley then asks Bergin "How do you kill a pink elephant?" and after the straight line from Bergin, Charley's response is, "Squeeze him until he turns blue and then shoot him with a blue elephant gun." I laughed when I saw that memorable comedy bit and the fact that I can remember it decades later is an indication of how much of an imprint it made on me.
The incongruity of that comedy bit has relevance to the message that the authors of this book are trying to make. Sometimes the making of a great new product is nothing more than taking an existing product (the pink elephant) and squeezing it so that it looks like a new product (the blue elephant). However, before that you need to know if there is a substantial market for the new product.
In this book, the authors demonstrate a tactic that can be used to explore the possibilities for new products. It is called Rule Developing Experimentation (RDE) and it is a systematic process to develop and test new ideas for products or different ways to modify existing products to make them more desirable. The particular emphasis is on the development for a product that the potential market does not yet realize that it would want. As all marketing directors understand so well, this is an inherently complex problem.
Nearly all businesses want to expand, and there is only two ways to do that. You can either sell more of your existing product line or develop new products. The strategy for the second requires a significant amount of predictive ability, which can only be generated by detailed study. The RDE process is a sound business strategy that can be applied almost anywhere. Several case studies of specific products are presented as examples of how things can be done, although the general tactics used are not specific to the product.
If you have just attended a meeting where the CEO has said that your company must introduce new and profitable products quickly and you are responsible for it, there are two things that you should do.
*) Sit down and take a few deep and relaxing breaths.
*) Reach for this book.
Both actions will help you solve the problem
Poorly done.......2007-08-08
Interesting concept extremely poorly written. Very confusing. I'd be hard pressed to actually put it into practice after reading this book. I'd read the Gladwell articles and that should give a basic idea. I just wish it was done better.
Simple concept overdone.......2007-07-27
I was disappointed in this book. Wasn't worth the $15.00 I paid, let a lone the $28.00 retail price so many probably paid. Very simple concept that could have been explained in one small chapter, not a whole book. I was bored to tears and kept looking for something else to explain why I bought the book. Great title and interesting chapter titles but did little to give me applicable information beyond the simplistic "RDE" concept. I kept saying, "Ok, ok I got it" and expected more - but there wasn't anymore. Find out what RDE is online and save your money regarding the purchase of the book.
Be more systematic in how you develop products, marketing programs, and communications and reap the rewards.......2007-06-23
This book is about using a systematic way to develop experiments, systematically gather the results of those experiments, and to intelligently analyze them to develop rules for use in product development, marketing programs, and even communications. This method they call RDE (Rule Developing Experimentation). The authors do not claim that this is a new idea, but rather that they have a better way of explaining it and demonstrating its power.
They use business stories of developing new products for Maxwell House coffee, Prego spaghetti sauce, Vlassic pickles, and a variety of marketing programs to demonstrate what they are showing us. The authors, Howard Moskowitz and Alex Gofman, write clearly and with a great deal of conviction. My guess is that you will either find their style infectious or, if you are of a cynical bent, it will trigger a bit of naysayer in you.
The basic steps to their method are:
1) Think about the problem and identify groups of features.
2) Mix and match the elements according to a special experimental design
3) Analyze the results gleaned from the experiments
4) Optimize according to the highest sum of utilities
5) Apply the generated rules to create new products, offerings, marketing programs, etc.
Too often we grope in the dark looking for a bolt of lightening to flash out of the sky and show us the best way to compete in our market space. It rarely happens. Even with this method, most of the experiments will prove something one shouldn't do. However, something will have been learned, one will know more about the boundaries beyond which there be monsters, and one will gain more insight and skill in setting up future experiments.
It seems convincing to me that this method can save time, money, and competitive position over the usually used random guesses that can consume entire companies when they are really wrong. The authors say that this can replace the facilitated focus group because they are a flawed method. While that might well be true, I can tell for sure that one can implement this methodology in a flawed way, as well. So, we should always be careful in how we use our tools and hesitate to blame the tool for using it improperly.
Interesting.
Book Description
"Eating the Big Fish is on fire with ideas.
Best in the marketplace." -Steve Hayden, President, Worldwide Brand Services, Ogilvy & Mather
"In 1986, the Levi's® Dockers® brand challenged the biggest fish in the men's apparel sea, Haggar. And we beat the pants off them! In his new book, Adam Morgan adroitly presents many of the same fundamental marketing principles which worked so well for us. A must read for marketing professionals." -Steve Goldstein, V.P. Marketing & Research, Levi's Brand U.S.A.
Years ago, Avis was a little fish in the car rental industry. Fearing the company would be swallowed up if they didn't "try harder," Avis boldly announced its #2 status to the world through advertising-and the rest is history. Why has this approach become a marketing legend? Because there are more people who can relate to being #2, 3, or even 4, than can claim they know what it's like to be the Big Fish.
There are plenty of little fish out there, circling in schools around the brand leaders they so desperately wish to surpass. Squeezed by new competition, a retreating consumer, and aggressive retailing practices, marketers of second- and third-rank brands are struggling to survive in a business environment where they have fewer resources and less control than ever before. But instead of watching-and copying-every move the Big Fish makes, these "Challenger" brands need their own set of marketing rules if they have any hopes of staying afloat and competing effectively against the leader.
Eating the Big Fish is the first book that sets out to define those rules. Adam Morgan offers an innovative mental and strategic framework for those who find themselves in this new, hostile middle ground, looking for aggressive growth against the market leader. Morgan, the Joint European Planning Director of TBWA (the international advertising agency behind the campaigns for such brands as Absolut vodka, Apple computers, and Sony Playstation), has examined in detail forty of the most successful Challenger brands of the last ten years -new or relaunched brands which have achieved rapid growth (and fame) with limited marketing resources. He outlines the reasons why Challengers must think differently in order to survive, offering hands-on advice, plentiful examples, and invaluable information to help a Challenger learn how to swim out of the shadow of the Big Fish.
At the heart of the book are the Eight Credos of Challenger Brands -Morgan's analysis of the common marketing strands that these Challengers seem to share, which range in scope from the need to project who you are and what you believe in (#2, Build a Lighthouse Identity) to insights about the organizational structure and focus in such companies and brands (#8, Become Idea-Centered, Rather Than Consumer-Centered). Morgan fully analyzes each Credo, discussing in detail the marketing strategy and behavior of the specific Challenger brands that have shaped the rules. He provides case studies that include both his agency's clients and other well-known brands, such as Lexus, Oakley, Fox TV, Energizer, Virgin Atlantic, Swatch, Nissan, and more. Morgan then draws the Credos together into a "Challenger Strategic Program" that can be applied to the reader's own market and brand challenge, offering a proposed outline for a two-day Off-Site Program that will attempt to kick-start the Challenger process for a core group within any marketing or management team. In addition, Morgan looks at the great Challengers of the last ten years who have gone on to become brand leaders, and shows how even the rules of brand leadership have changed -why staying #1 now means, in fact, thinking and behaving like a #2.
Anyone can follow a leader. It takes a smart company to go up against the Big Fish, and Morgan's innovative, strategic program will show even the littlest fish how to make a meal out of the competition.
Customer Reviews:
fantastic read.......2006-07-21
This book did great things for my understanding of a challenger brands greatest strengths and strategies. Not to turn this into a forum, I have a few questions though: Does anyone know more about Adam Morgan? Did he work for TBWA? Any other agencies? What was his discipline? Any info would help.
one of the best marketing books available .......2005-08-31
I own (oooooh) probably between 80 and 100 books on marketing, some are obligatory read for my masters in marketing, some are handpicked in stores and on amazon and I stand by the title of my review. What can you take out from this book: YOU CAN compete with big brands, there are attitudes and ways of running your business that can knock down the goliath in your industry, and this book explains how, giving numerous examples from various industries. Only negative, if I can call it that, is author's writing style, which was rather hard for me, but then again, I am croatian, so it could be my english, not mr Morgan's :). A MUST!! have.
Demolish the 3-piece suits that stand in your way.......2005-08-09
I don't know how to explain the insightful ideas I have taken from this book.
I have read tens of books on branding and how to gain a competitive advantage, yet none were as ground breaking as "Eating the Big Fish".
While others will tell you "what" marketing approaches they used...this one explains the "why".
I got my copy almost free using a coupon from UnderTag.com
Insightful!.......2004-06-09
Author Adam Morgan went hunting for the second most successful brands. He sought commonalities among them to develop guidelines for those who are challenging the number one brands in their fields. In other words, if you are coming into the battle in the number two slot, here's your strategy for winning the marketing wars. Morgan is very adept at breaking things down into precise action steps. Witty and engaging, he offers a detailed analysis of the current consumer attitude about brands plus strategies you can use to market your second or third rank brand. We recommend this compilation of competitive ideas to those who want to boost their "Challenger" brands.
Insightful!.......2003-10-15
Author Adam Morgan went hunting for the second most successful brands. He sought commonalities among them to develop guidelines for those who are challenging the number one brands in their fields. In other words, if you are coming into the battle in the number two slot, here's your strategy for winning the marketing wars. Morgan is very adept at breaking things down into precise action steps. Witty and engaging, he offers a detailed analysis of the current consumer attitude about brands plus strategies you can use to market your second or third rank brand. We recommend this compilation of competitive ideas to those who want to boost their "Challenger" brands.
Books:
- Coaching Successfully (DK Essential Managers)
- Competing on Analytics: The New Science of Winning
- Cost Accounting (12th Edition) (Charles T Horngren Series in Accounting)
- Cost Accounting (12th Edition) (Charles T Horngren Series in Accounting)
- Crafting and Executing Strategy : The Quest for Competitive Advantage - Concepts and Cases (Strategic Management: Concepts and Cases)
- Critical Chain : A Business Novel
- Critical Chain Project Management, Second Edition
- Crossing the Quality Chasm: A New Health System for the 21st Century
- Designing Organizations: An Executive Guide to Strategy, Structure, and Process Revised
- Designing the Hamptons: Portraits of Interiors
Books Index
Books Home
Recommended Books
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- Differential Diagnosis and Management for the Chiropractor, Third Edition: Protocols and Algorithms
- Forever a Hustler's Wife: A Novel
- Greek Islands
- Cost Accounting: Processing, Evaluating, and Using Cost Data
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- City in Love: The New York Metamorphoses
Strategy & Competition
| Management & Leadership
| Business & Investing
| Subjects
| Books
The Long Tail: Why the Future of Business is Selling Less of More
Good to Great: Why Some Companies Make the Leap... and Others Don't
The Tipping Point: How Little Things Can Make a Big Difference
The Innovator's Dilemma: The Revolutionary Book that Will Change the Way You Do Business (Collins Business Essentials)
Seeing What's Next: Using Theories of Innovation to Predict Industry Change
