Reference no: EM133573694

Topic 1: Design thinking and product innovation

Research and anecdotal evidence show that few managers are satisfied with their firms' product innovation efforts and outcomes. This reflects the fact that as few as ten percent of products launched into the market are successful and 'perform' as desired by customers. The challenges associated with being successful product innovators means that managers are seeking better ways to develop new products that truly deliver to the wants, needs, and desires of their customers. Design thinking, a design-based approach to solving human problems, is increasingly being considered by firms to help them with their product innovations. However, what design thinking is, how it works to deliver to customer and user needs, wants, and desires, and whether it leads to successful incremental and radical new products, remain as key questions managers would like answers and insights around.

Task: gather research about the nature and scope of product innovation in Australian SME's, and gather insights about the nature of scope of product innovation in Australian SME's, and how it relates to design thinking

Balance insights from academic journals and research (see google scholar as a source for articles), with insights from other high-quality sources (e.g., consulting firms, government reports, industry blogs and sources)

Use Harvard referencing for citations and develop a list of references using Harvard referencing.