Abstract:

In the eighties new product development will remain high on the list of priorities for all companies. Since the responsibility for new product development lies in the hands of company management, their overall goals and the strategies to achieve these will determine the areas of development which are important for their future business and profit growth. This means that development can be directed towards extension of existing product fields, internationalisation of locally successful products as well as entering entirely new product areas. Management's strategies will be strongly influenced by the expected economic development and changes in environmental conditions.