Final Lessons and Conclusion

Abstract

The main objective of this book was to examine the effect of new product development strategy on entrepreneurial performance in high-tech SMEs in the UK. Chapter 1 introduced the objective and scope of the study. It also gave an overview of the main studies in the areas of new product development and entrepreneurial firm performance. Then it discussed the research objectives and questions and a brief methodological view of the study. Chapter 2 discussed strategic management in the context of small and medium-sized enterprises. It covered the theories and definitions of strategy and strategic management, product development and new product development strategies in SMEs. This chapter also reviewed the concepts of innovation and entrepreneurship. It discussed the innovation model, innovation capacity and entrepreneurial firm performance. Chapter 3 began with an outline of the research objectives and questions. It introduced the research philosophy, approach and design of the research. Then it provided the proposed conceptual model and hypotheses about the relationship between new product development and entrepreneurial performance in SMEs. It ended with the data analysis plan for the study. Chapter 4 reviewed the objectives and process of product development in firms. It also discussed the relationship between product development and product life cycle, management resources innovation and performance.