The Three-loop Learning Model Appliance in New Product Development

Today's companies are experiencing significant pressures from increased levels of competition, rapidly changing market requirements, higher rates of technical obsolescence, shorter product life-cycles and the heightened importance of meeting the needs of increasingly sophisticated customers. Many companies realize that in order to provide value and win customers they now need to quickly and accurately identify changing customer needs, develop more complex products to satisfy those needs, provide higher levels of customer support and service, and utilize the power of information technology to provide greater functionality and performance. Consequently, greater focus is being placed in having new product development frameworks that achieve an optimized balance of internal execution effectiveness, coupled with an ability to delight customers (Shepherd, Ahmed, 2000).