Vietnamese Small and Medium-Sized Enterprises: New Product Development Process Management

Abstract

Managing new product development (NPD) process is a challenging task for enterprises to fortify their new product success. In this research, we examine the NPD process proficiency of small and medium-sized enterprises (SMEs) in Vietnam in manufacturing field. A total of 795 questionnaires were sent to SMEs in Hanoi resulted in the 340 usable responses with a response rate of 42.77%. The data was analyzed by using the SPSS (v.24) software. The results showed that the overall NPD project success was significantly affected by two stages: pre-development activities, and product development and product testing. Majority of Vietnamese manufacturing SMEs not only performed pre-development activities, and product development and product testing frequently but also perceived that they had implemented well in the activities. In the contrast, the overall NPD project success was insignificantly influenced by commercialization activities. The outcomes reinforced the understanding of the critical activities of the NPD process in Vietnamese enterprises, which could support Vietnamese business managers increase NPD process proficiency by employing these results to make better policies assisting both commercial and non-commercial innovation activities.KeywordsManufacturing industryNPDNew product development processVietnamSMEs