Strategic product innovation: avenues for industrial designing systems

New product creation is not mere chance, or random flashes of inspiration. Innovative companies make it happen continuously innovation in today's rapidly changing world. Successful innovators, consciously or not, use a repeatable thinking process to manage change to their advantage by systematically searching out new products, new markets and new customers. Evaluating them for risk and reward, feasibility and fit with the corporate strategy and implementing only when analysis shows a high probability of success. A product development strategy provides the framework to orient a company's development projects as well as its development process. The impetus for a new product normally comes from a perceived market opportunity or from the development of a new technology. The product development process typically requires both engineering and marketing expertise. The strategy takes into account the company's capabilities, the competition's capabilities, market needs and opportunities, goals, and financial resources. This paper provides a bird's eye view on strategic innovation, design and development of product support and maintenance concepts for industrial systems in a multinational environment.