Product Development Plan to Drive Integration of Emerging Technologies in FitWood Ltd.
Hilli, Santeri (2023)
2023
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-202305108924
https://urn.fi/URN:NBN:fi:amk-202305108924
Tiivistelmä
The aim of this thesis was to create a product development plan for FitWood Ltd. The intention to evolve FitWood’s product development was to support the organization in achieving its goal of producing its first technological product before the end of 2025. The goal was also to share implementations that would develop the company’s innovation culture. In addition to that, the aim was to increase the organization’s knowledge about emerging technologies and to suggest the most competitive technology for the organization. The constructive research strategy with a deductive approach was chosen to achieve these aims of qualitative research.
FitWood manufactures and sells playroom active toys and home-exercise equipment that promotes Scandinavian design, multifunctionality, and well-being. The organization is in Tampere, Finland, and it uses subcontractors for producing its products. There are seven employees, including the researcher, who works as the organization's CEO. All of them participate in the product development process.
The information for the product development plan was produced using a theoretical framework, participant observation, and semi-structured interviews. The theoretical framework provided a theoretical base for the thesis and knowledge about emerging technologies for the organization. The theoretical framework leans on innovation, emerging technologies, and the Stage-Gate model. The Stage-Gate model was used as a framework for the product development process. The characteristics of innovation culture were used as a frame to evaluate the company’s culture.
The observation was conducted to analyze and improve the organization’s innovation culture and product development process. Interviews were organized to study and understand the future insights into emerging technologies from the leaders of technological companies. Additionally, the data from interviews were used to suggest the most competitive emerging technology for the organization.
Research findings showed that an innovation culture partially existed in the organization even though some characteristics needed development. The study revealed that the product development process was not documented and did not have a clear structure. Interviews showed how difficult it is to predict and follow emerging technologies.
The product development plan was the outcome of the research. The plan is divided into three chapters: development of the innovation culture, new product development process, and competitive emerging technologies. The development of the innovation culture suggests how the areas that needed development could be improved. The new product development process suggests a new model that is based on the Stage-Gate model. The competitive emerging technologies show important emerging technologies and what needs to be considered before taking them into use.
FitWood manufactures and sells playroom active toys and home-exercise equipment that promotes Scandinavian design, multifunctionality, and well-being. The organization is in Tampere, Finland, and it uses subcontractors for producing its products. There are seven employees, including the researcher, who works as the organization's CEO. All of them participate in the product development process.
The information for the product development plan was produced using a theoretical framework, participant observation, and semi-structured interviews. The theoretical framework provided a theoretical base for the thesis and knowledge about emerging technologies for the organization. The theoretical framework leans on innovation, emerging technologies, and the Stage-Gate model. The Stage-Gate model was used as a framework for the product development process. The characteristics of innovation culture were used as a frame to evaluate the company’s culture.
The observation was conducted to analyze and improve the organization’s innovation culture and product development process. Interviews were organized to study and understand the future insights into emerging technologies from the leaders of technological companies. Additionally, the data from interviews were used to suggest the most competitive emerging technology for the organization.
Research findings showed that an innovation culture partially existed in the organization even though some characteristics needed development. The study revealed that the product development process was not documented and did not have a clear structure. Interviews showed how difficult it is to predict and follow emerging technologies.
The product development plan was the outcome of the research. The plan is divided into three chapters: development of the innovation culture, new product development process, and competitive emerging technologies. The development of the innovation culture suggests how the areas that needed development could be improved. The new product development process suggests a new model that is based on the Stage-Gate model. The competitive emerging technologies show important emerging technologies and what needs to be considered before taking them into use.