Product Development in the Financial Crisis

DS 58-3: Proceedings of ICED 09, the 17th International Conference on Engineering Design, Vol. 3, Design Organization and Management, Palo Alto, CA, USA, 24.-27.08.2009

Year: 2009
Editor: Norell Bergendahl, M.; Grimheden, M.; Leifer, L.; Skogstad, P.; Lindemann, U.
Author: Ringen, Geir; Holtskog, Halvor
Section: Design Organization and Management
Page(s): 133-144

Abstract

In the automotive industry product development has been a key for competitive advantage. Such projects are done in a value chain setting with many suppliers. The point of departure is a strategic supply model where key indicators for knowledge development and culture of competiveness, before and after the current financial crisis, are analyzed through case studies, in-depth interviews, internal documents, and survey. Researchers have spent two years inside the companies in a pragmatic research project. During this time the financial crisis hit the industry hard. Hence, degree of market turbulence is discussed according to the key indicators together with market and business implications to the product development process. During the initial shock phase the research shows significant changes in learning orientation, innovativeness orientation, entrepreneurial orientation, and knowledge acquisition.

Keywords: Product development, value chain, automotive industry, financial crisis

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