The first step in transforming strategy from a hopeful statement about the future to an operational reality is to allocate resources to innovation and new product development (NPD) programs. We explore how funding authority affects a manager's allocation of resources between multiple programs in...

Every decision to pursue a strategic new product development (NPD) initiative has substantial implications for firm performance. However, at the time resource decisions are made, senior level decision makers often lack precise knowledge about the effectiveness of the firm's resources when...