The Characteristics of Innovative, Mechanical Products-10 Years Later

Research output: Contribution to journalArticleScientificpeer-review

Researchers

Research units

  • Monash University
  • Singapore University of Technology and Design
  • University of Texas at Austin
  • Massachusetts Institute of Technology

Abstract

Ten years prior to this paper, innovative mechanical products were analyzed and found to embody multiple innovation characteristics-an average of two more than competing products in the marketplace. At the time, it was not known whether these products would be successful over time and whether the number or type of innovation characteristics would be related with success. In this work, products from the previous study were categorized into well- and under-adopted products. Also, each product was categorized according to the type of firm that launched it: a new venture or an established firm. The innovative products enjoyed a success rate of 77% on average. The success was not dependent on the number or type of innovation characteristics embodied by the product. However, products developed in new ventures embody, on average, one more innovation characteristic and enjoy a slightly higher success rate than those launched by established firms.

Details

Original languageEnglish
Article number084501
Number of pages8
JournalJournal of Mechanical Design
Volume140
Issue number8
Publication statusPublished - Aug 2018
MoE publication typeA1 Journal article-refereed

    Research areas

  • TECHNOLOGICAL-INNOVATION, ESTABLISHED FIRMS, SUCCESS FACTORS, SIZE, INDUSTRY, PERFORMANCE, EXPERIENCE, PROJECTS, FAILURE, GROWTH

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