Financial Measures - ROI
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Can (ROI) on current products become also a handicap to organizations? Entities seeing only current profits versus creating new products and services?
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Solution Summary
The solution determines whether ROI on current products becomes a handicap to organizations.
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Relying only on financial measures like ROI can lead to myopic thinking. Companies typically see new product development as the first stage in generating and commercializing new products within the overall strategic process of product life cycle management used to maintain or grow their market share. (Wikipedia) Product strategy begins with a strategic vision that states where a company wants to go, how it will get there, and why it will be successful." "Product strategy is like a roadmap, and like a roadmap it's useful only when you know where you are and where you want to go" (McGrath 2001).
Hence creating new products and services should be ...
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