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Democratizing New Product Development Through an Industry-Society Entrepreneurial Partnership

  • Evangelos MarkopoulosEmail author
  • Emma Luisa Gann
  • Hannu Vanharanta
Conference paper
Part of the Advances in Intelligent Systems and Computing book series (AISC, volume 1026)

Abstract

New products derive from the industry and the society as well. They can be created in the mind of anyone who sees a need that people can buy, as an outcome of knowledge creation and sharing. This paper presents the structure, concepts, methods and operations of a proposed framework that addresses a new approach on product knowledge registration, evolution and utilization. It explains the co-evolution of a democratic industry-society relationship between the large or small organizations and individuals and provides the process model to apply it in practice. The proposed framework adapts and uses the Company Democracy Model as the base for the development of a practical approach through the evolution of the new product development process over its six escalated stages. Starting from the first level of the idea creation within a knowledge sharing culture, until sixth level of the models which deals with globalization and internationalization strategies.

Keywords

New Product Development Innovation Society Consumer Company Democracy Shared value Entrepreneurship Management Leadership 

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Copyright information

© Springer Nature Switzerland AG 2020

Authors and Affiliations

  • Evangelos Markopoulos
    • 1
    Email author
  • Emma Luisa Gann
    • 1
  • Hannu Vanharanta
    • 2
    • 3
  1. 1.HULT International Business SchoolLondonUK
  2. 2.School of Technology and InnovationsUniversity of VaasaVaasaFinland
  3. 3.Faculty of Engineering ManagementPoznan University of TechnologyPoznanPoland

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