Assessing Some Important Factors to Reduce Obstacles in Product Innovation

The need for effective and efficient Product Innovation (PI) is a great challenge for organisations in today’s hypercompetitive global markets. Many research studies addressed problems/obstacles to successful PI from various perspectives. Many other studies proposed factors to help companies mitigate such problems. Here, the primary objective is to propose an integrated model, to empirically test this model, and get insights about which factors, if managed appropriately, will help reduce the obstacles to PI in practice. A questionnaire was developed, pilot tested, and used to collect data from 47 PI managers. The results support the theoretical importance of a formal PI process, characteristics of the company environment, and the availability of specific resources as important factors to reduce obstacles to company PI. Based on the results recommendations are made to practitioners and researchers in this important area.