Why Small Companies Need a New Product Development (NPD) Process

innovation managementI recently read an article that challenged small companies, especially start-ups, to consider an HR (human resource) function. The article provided several reasons why this is typically not considered by small companies and went on to make an argument for a focus on building HR capabilities. The article made me wonder: Do small companies and start-ups have a similar bias against formal NPD processes? I suspect so. Here, I address why small companies should embrace an NPD process rather than resist it. Continue reading