Reflective Journal: Factors and Practices in New Product Development

This is a reflective journal entry focusing on the understanding developed regarding factors and practices impacting new product development, particularly in the context of Yahoo!. The reflection highlights key learnings such as Yahoo!'s focus on business growth through innovation, the importance of employee freedom and flexibility, and critical factors affecting innovation culture. It also discusses Yahoo!'s brand equity, challenges in maintaining an innovative edge, and the deviation in becoming a search engine versus a media brand. The author reflects on difficulties faced during data collection and team collaboration, emphasizing the need for improved communication skills. Furthermore, the reflection covers critical success and failure factors for Yahoo!, including brand heritage, R&D, market tapping, and staffing changes. The journal concludes with an understanding of the new product development process and the strategic use of resources, decision-making, and the vital role of innovation and creativity in NPD. Desklib provides a platform for students to access similar solved assignments and past papers.

Running head: REFLECTION
Reflection

REFLECTION 2
Reflection
Throughout the assessment 3, I have developed my understanding regarding factors and practices
that may impact on new product development. I have learned that Yahoo! is keen toward
business growth under innovation as well as disruptive business models. Moreover, I have
increased my understanding that Yahoo focuses on increasing the effectiveness as well as the
efficiency of its employees by freedom as well as flexibility. This leaning would be applied by
me to perform well in Yahoo. I have also developed my knowledge that there are some critical
factors that can affect the innovation culture as well as creativity in the firm. These factors are
firm related factor, product-related factor, market-related factor, as well as, project related factors
(Alexa, 2019).
I have developed my knowledge that Yahoo certainly has brand equity as well as, still practiced
by millions as being a firm with over two eras of experience as well as presence. I have also
enhanced my learning that Yahoo certainly has equity of brand as well as still practiced by
millions. I have increased my experience that Yahoo is struggling for gaining the position
towards innovation brand whereas its rivalry came into the market after a long time. This
learning experience would be applied by me in dealing with the business. I have also learned that
there is a deviation in the process of becoming a search engine service provider and media brand.
I have also developed my understanding that Yahoo somewhere in the procedure can highly
suppose itself as a media firm (Chris Wofford, 2013).
Although, this assessment was difficult for me in terms of analyzing the data but, it was
supportive for me to gain competitive benefits. I have also enhanced my knowledge that the
company should develop one strategic direction through top management. This learning is
beneficial for me to provide the right direction to their workforces. I have also generated my

REFLECTION 3
knowledge that a leader who has a stubborn vision can make the right calls within decision
making. I have also developed my understanding that there is presently incident regarding the
lawsuit in against the CEO and also the company is moving towards 7% of workforces along
with this, sold the corporation to Verizon have developed unfavourable vibe in terms of the
brand. I would utilize this knowledge into the future to work as a manager in Yahoo (Floren,
Frishammar, Parida 2018).
Throughout the investigation, I have faced difficulties in data collection about the company due
to lack of resources. During the research, some of my team members did not cooperate with me
due to lack of communication. Hence, I need to make an improvement in my communication
skills. But, at the same time, I have developed my knowledge that resources should be
strategically practiced, particularly for workforces. Along with this, I have learned that the
existing activity of motivating workforces is considering innovative by providing freedom to act.
It would be beneficial for me to motivate the employees in the future. I have also increased my
understanding that there are some factors that affect the Yahoo such as, R&D Team and
intensity, Strategy towards innovation, Management style, and Concentration of target market. I
have also built my understanding regarding critical success factor and issues associated with
Yahoo. These critical success factors are Brand Heritage and Experience, and Dedicated R&D
team and intensity (Gabrielle, 2014).
I have also enhanced my understanding of the failure factors such as Tapping all possible market,
and Constant Changes in Staffing and Hiring. This learning would be beneficial for me to
improve my personal and professional career. I have also developed my understanding of the
several processes of new product development. These processes are idea generation, screening,
and evaluation, business analysis, design, and development, testing as well as commercialization.

REFLECTION 4
This learning would be applied by me to develop a new product (Gary, 2015).
I have also increased my knowledge that company should utilize the resources in a strategic
manner by directing towards right path as compared to repeating the same that was followed for
a longer period. This learning would be applied by me to become a good new product
development manager. I have also enhanced my experience that decision making skill is required
for making a feasible decision towards the new product development. I have also built my
knowledge that innovation and creativity play a vital role in NPD as I would apply this learning
in future for making new product development (Nadia, 2011).

REFLECTION 5
References
Alexa, (2019). Alexa.com. Retrieved from https://www.alexa.com/siteinfo/yahoo.com
Andrew McDermott. (2019, Feb 28). ‘The top 7 management styles: which ones are most
effective?’ [blog post]. Retrieved from https://www.workzone.com/blog/management-styles/
Chris Wofford. (2013, Nov 20). ‘5 key strategies for innovation from Yahoo! Ceo Marissa
Mayer’ [blog post]. Retrieved from http://blog.ecornell.com/5-key-strategies-for-innovation-
from-yahoo-ceo-marissa-mayer/
Floren H, Frishammar J, Parida V, et al, (2018), Critical success factors in early new product
development: a review and a conceptual model, International Entrepreneurship and
management journal 14, (2), pp 411-427 Retrieved from https://doi.org/10.1007/s11365-017-
0458-3
Gabrielle Benefield. (2014). Scrum case studies. Retrieved from
http://www.scrumcasestudies.com/yahoo/
Gary P, Pisano. (2015). You need an innovation strategy. Retrieved from
http://cegllcstrategies.com/pdfs/You_Need_an_%20Innovation_Strategy_5.pdf
Gerben van der P, Cees van B, Alfred K. (2013). Success and failure of innovation: a literature
review. International journal of innovation management, 7 (3), 1-30.
Jens Martin Skibsted. (2014 Mar 03). ‘Why open innovation could be Marissa Mayer’s downfall
at yahoo?’ [blog post]. Retrieved from https://www.fastcompany.com/1670416/why-open-
innovation-could-be-marissa-mayers-downfall-at-yahoo
Jones and Bartlett Learning LLC. (2015). Booz, Allen and Hamilton’s new product process.
Retrieved from http://samples.jbpub.com/9780763782610/82610_CH02_PASS02.pdf

REFLECTION 6
Michelle Solicito. (2015, June 13). Why Yahoo not as innovative as Google? [blog comment].
Retrieved from https://www.quora.com/Why-is-Yahoo-not-as-innovative-as-Google
Nadia Bhuiyan. (2011). A framework for successful new product development. Journal of
industrial engineering and management, 4 (4), 746-770. Retrieved from
http://dx.doi.org/10.3926/jiem.334
Shane Ferro, (2016, Feb 05). ‘Why a man is suing Yahoo for Sexism’ [blog post]. retrieved
from https://www.huffingtonpost.com/entry/mans-suing-yahoo-for-gender-
bias_us_56b25e1ce4b08069c7a5d2ad
The Economic Times. (2019). The Economic Times. Retrieved from
https://economictimes.indiatimes.com/definition/target-market