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Students will be assigned teams, with preferences considered, to learn about and work on projects related to a specific company, with company background information provided and a specific industry contact person selected. Each student team is expected to learn about that companies competitive strengths and strategies and to work as if they were employees of that company. Teams will then explore the new product development process, similarly to how that company approaches product development, in three stages:
1) Define company's current competitive advantages/strategies, envision the company in 2012 and develop 10 new product ideas that are aligned with the company vision and strengths.
2) Screen new ideas, select 3 promising ideas, and develop an "opportunity assessment" for each. Assess potential financial returns and risks.
3) Select the most promising of these 3 ideas and develop a product development plan (design ,testing, marketing and manufacturing plans)
Class participation in discussion, homework, weekly reports to client: 23%,
Quizzes(2): 20%,
Labs(3): 45%,
Peer evaluations(2): 12%.