Study On The Structure Of Co-development Projects And Its Impaction To Innovation Success

This research contributes to the literature of the Essential Structures of Co-Development Projects and how their inherent differences lead to Innovation Success. The research, beginning with incorporating a thorough study of the works of J. Schumpeter, seeks to help in identify important details, various dimensions of innovation, actively contributed by filling gaps in the literature, followed by description of various models that are developed indicating and interpreting the possible relationships between co-development and innovation. The dissertation includes several case studies in the development and high tech sector that have been studied at length to arrive at a final analysis of the ideal model for Innovative success. These case studies give vital insights about what can motivate large - versus small - firms to participate in co-development relationships, how firms can be drawn together by identifying a common goal, and about simple infrastructure that can be put in place to help achieve success. Some of the expert views on the most effective strategies and business models in terms of codevelopment collected from international conferences are also reflected herein. Successful partnerships both in the industry and with key strategic partners in order to meet customer needs and desires are hard to build.With the help of the Theory of Strategic Alliance and Organizational Theory, the conclusions drawn upon careful analysis of a variety of different case studies point to the hierarchical project structure having (S)-P-P-(C) Concepts co-development relationship being the most successful in terms of innovation. These project models have specific personnel assigned in order to implement and manage the intricacies of co-development principles along with the decision rules in order to resolve potential conflicts with partners. Moreover, people-to-people contacts play a crucial role in managing the flexible part of the relationship.The research includes, among other factors, the importance of the terminology and understanding of the widely used terms of Innovation and Co-development and what they mean to organizations doing business in the 21^st century. The research eonfmns that at the root of economic growth and business success lies innovation, defined as the creation and deployment of useful knowledge. During the innovation process, finns oRen incorporate input from suppliers, competitors, and customers, and may form alliances to heighten the payoff from this input. Open Innovation is transforming the nature of product development. To compete effectively in today's business environment, firms are using strategic alliances to link their resources with those of other world-class organizations. The issue of collaborative development is increasingly recognized as one of the major frontiers to be crossed for improving the process of product innovation and development. Many companies now see enormous potential in leveraging the extended value chain as they deliver solutions to customers. There are challenges, too, that can delay processes, create conflict and falsify assumptions; all these need to be overcome.Co-development, the capability of organizations to partner with other organizations in order to breed innovative practices, can be of crucial importance in sustaining and strengthening competitive positions in markets. Organizations create new products and processes by sharing complementary resources, knowledge and competencies and go through several stages of strategy making, in which they interactively explore, develop and realize their co-innovative ambitions.The research shows that the co-development concept leading to innovation success revolves around the (S)-P-P-(C) Concepts co-development projects model also because of the hierarchical project model's emphasis on relationship building and nctworldng within key business core areas that lie inside the two organizations. The relationships play a vital role in developing and accessing the core and critical capabilities of both organizations. The case studies provide a comprehensive framework from which we can draw assumptions and conclusions of these competencies. Towards the end of the dissertation, recommendations on managing and structuring co-development agreements and frameworks for selecting/ managing external partnerships are also stated. Not surprisingly, open-ended projects require a great deal more relationship management than simpler contracts. In these open-ended projects, one needs to set, in the agreement, the way one will relate to each other and provide simple procedures for periodic adjustments to enhance synergies and for removal of difficulties.