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A Five-Factor Market Approach for Long-Term Product Development: A Result of Systems Thinking

Authors:
Andy Mattulat Filipovic
Mo Mansouri

Keywords: Systems of systems; Future market.

Abstract:
Current product development practices face challenges when adapting to long-term changes in early-stage development. This challenge happens due to missing awareness of the future dynamic conditions that influence future market conditions. This paper introduces five factors to investigate the future dynamic complexities for product development organizations. Findings show interdependencies between the factors, Business model, Politics and regulation, Trends, Funding and Insurance, and Technology. Each factor consists of an individual system, which can be influenced by each other over time. Further investigation of the interdependencies linking five factors set out to reveal the new and unexplored potential for product development organizations. The paper introduces a systemic approach to facing future challenges of managing long-term product development management.

Pages: 1 to 6

Copyright: Copyright (c) IARIA, 2023

Publication date: April 24, 2023

Published in: conference

ISSN: 2308-4243

ISBN: 978-1-68558-037-7

Location: Venice, Italy

Dates: from April 24, 2023 to April 28, 2023