Engineering and Business

Question: Write an essay on Engineering Management? Answer: Introduction In the context of the engineering and business, (Acar et. al, 2014) discusses that New Product Development (NPD) is the process of doing the development of the new services or the product. In this development it considers some of the preliminary steps in doing the development of the services and the product (Kodama and Shibata, 2013). This process needs to be done to do the development of the new items and also needs to done the improvement of the existing products. As commented by (Blauth et al, 2014), the business analysis will gives the possibilities to do the determination of the costs on the basis of the proposed plan of the new product development. In this assignment it does the selection and the discussion of the advantages and the disadvantages of the Japanese approach of the product development by comparing with the UK approach (Blauth et al, 2014). Review, Analysis and the Selection of the appropriate NPD methodology In the context of the new product developments methodology, (Hamilton, 2014) discusses that the product becomes new to the market on the basis of the mentioned situations: development of the new product lines, to improve and to revise the existing products, doing the repositioning and does the reduction of the cost of the product (Racela, 2015). Before introducing the products in to the market it needs to undergo some of the development stages (Kodama and Shibata, 2013): generation of the ideas of the product development, screening of the ideas, development and the testing of the ideas, analysis on the business background, market testing and beta testing of the product, technical implementation of the product, commercialization and the pricing strategy of the new product. (HODGKINSON and HUGHES, 2014) stated that to do the selection of the development methodology of the new product it needs to done the proper analysis of the requirements on the basis of both the performance and the f unctional attributes of the product (Racela, 2015). Then it needs to done both the plan and the proposal so that it can do the better estimation which needs to be more accurate. It also needs to done the review of the design phase by comparing all the requirements of the product development (Blauth, Mauer and Brettel, 2014). It also needs to done the presentation phase of the product development by getting all the approximation of the final products on the basis of the software, electrical and mechanical (Blauth et al, 2014). In the prototype implementation phase, it needs to done the customer acceptance of all the activities of the design review on the basis of the requirements of the development of the products. Then it needs to done the development on the basis of the manufacturing so that it can increase the profits of the products (HODGKINSON and HUGHES, 2014). In the context of the new product development, (Jafarian and Bashiri, 2014) discusses that there are two possible ways for the development of the new product: one is basically related to the product design and also the idea generation, the other is on the basis of the research and the analysis of the market. In the UK approach of the product development, it gets prioritized with the various concerns which include addressing of the participation of the organization on the basis of the security (Jafarian and Bashiri, 2014. On the other hand in the context of the Japanese approach, (Keeffe and McHugh, 2014) commented that the product development of the Japanese approach has undergoes throughout the large numbers of the changes. In the Japanese approach the main objective of the product development is to deliver the varieties of the strategies on the basis of the high level technologies, it also helps to minimize the occurrence of the problems (Novack, 2014). Furthermore, the Japanese ap proach mainly focuses on the designing the process to do the improvement of the productivity, decreasing the costs and by increasing the quality (Blauth et al, 2014). Gantt chart of the new product development plan Main activities/ stages Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Topic Selection Data collection from secondary sources Creating layout Literature review Analysis of the appropriate NPD methodology Selection of the Appropriate NPD methodology Analysis in respect of the literature review Summary on the basis of the literature review Summary of the findings analysis of the literature Conclusion of the Study Formation of Rough Draft Submission of Final Work Literature review on the basis of the Japanese approach of the product development In the context of the industry and the business world (Yuen, 2014), the new product development is used to give the description of the full process from the starting of the new process or the services to the marketing. In the context of the literature review, (Blauth, Mauer and Brettel, 2014) argued that in the development of the new product it mainly involves with the idea generation, the detailed and the design view of the product on the basis of the research and the analysis of the targeted market (HODGKINSON and HUGHES, 2014). From the perspective of the UK approach of the new product development, the assessment is only on the basis of the development issues. On the other hand, (Kodama and Shibata, 2013) commented that the success factors of the development of the new product mainly involve the improvement of the performance and also the development of the qualities of the products. This type of the development mainly enhanced the improvements of the product technologies (Keeffe and McHugh, 2014). The approach of the product development of Japan is mainly related to the basic factors of the development of the products which include promotion of the qualities of the product and also the design of the product (Novack, 2014). The major objectives are to make secure of the long term goals of the industrial market. However on the other side of the UK approach (Kiss and Barr, 2014) discusses that it does the development of the products on the basis of the researches, government firms and also the contribution of the companies. In the UK approach of the product development, the development of the product is mainly on the basis of the government policies (Keeffe and McHugh, 2014. Analysis and the summary of the literature review In the context of the new product development, (Kiss and Barr, 2014) augmented that by doing the referring of the various issues of both the Japanese approach and the UK approach of the development of the new product is mainly giving the focuses on the various standard trends on the basis of which it can meets the market demands (Melander and Lakemond, 2014). While on the other words, in the UK approach it mainly gives the focuses on the basis of the security policies (Kodama and Shibata, 2013). On the primary basis the development of the new product will helps to meet the demand of the market and also the challenges of the needs of the consumers because it makes the possible ways in order to achieve the goals of the future. Kodama and Shibata, 2013) states that in doing the development of the market strategies it needs to give the description of the structure, size and also the behavior of the market on the basis market share and the profit goals. It also needs to done the analysis of the long run basis sales and the strategies of the marketing mix (Melander and Lakemond, 2014). By doing the analysis of the summary it finds that on the primary basis the new product development needs to meet the market demand and the challenges and also the consumer needs so that it helps to do the achievement of the future goals (Kiss and Barr, 2014). Summary and conclusion In the context of the business and engineering, (Blauth, Mauer and Brettel, 2014) commented that the basic objectives of this assignment is mainly on the basis of the development of the new product. It also does the introduction and the creation of the knowledge and also helps to do the development of the strategies so that it becomes easy to do the improvement and the promotion of the process of the new product development. Furthermore, (Liboni et al., 2014) argued that the development of the new product on the basis of the development of the better means of the product. The Japanese framework of the new product development helps to do the achievement of the success (Kodama and Shibata, 2013). However in this study (Yuen, 2014), it does the exploration of the UK approach which makes it more effective on the basis of the market position of the industrial companies. In this paper it also revealed some of the government policies on the basis of the UK approach (Kodama and Shibata, 2013). In the context of the Japanese approach it conducts both the power and the strength strategies towards the development of the product development on the basis of the market demand. In this assignment it also reflects both the advantages and the disadvantages of the Japanese approach by doing the comparison of the traditional UK approach (Blauth, Mauer and Brettel, 2014). Reference List Acar, W., Burns, A. and Datta, P. (2014). Explicit Knowledge Transfers in New Product Development. International Journal of Strategic Decision Sciences, 5(4), pp.16-50. Blauth, M., Mauer, R. and Brettel, M. (2014). Fostering Creativity in New Product Development through Entrepreneurial Decision Making. Creativity and Innovation Management, 23(4), pp.495-509. Hamilton, M. (2014). UK Value-Based Assessment: Will Scotland's Smc Approach It In The Same Way?. Value in Health, 17(7), p.A442. HODGKINSON, I. and HUGHES, P. (2014). STRATEGY CONTENT AND PUBLIC SERVICE PROVIDER PERFORMANCE IN THE UK: AN ALTERNATIVE APPROACH. Public Administration, p.n/a-n/a. Jafarian, M. and Bashiri, M. (2014). Supply chain dynamic configuration as a result of new product development. 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