Development of a new method of searching a new product development opportunity

Original scientific paper We developed a method for a systematic approach to searching for opportunities for new products by taking account of a particular business environment. The method was developed on the basis of experiences from cooperating in development teams. Combining practical experiences and the aspect of new product development, we developed a method for searching an opportunity for developing a new product (SETL Method). A systematic approach in existing business and technical development process is very precisely defined, especially at the beginning of the process. The process of searching for an opportunity involves recognized social, economic, technological and legislative (SETL) factors through which the outside influences are measured. Using SETL factors makes the process more systematic. The searching process is systematic, from defining a suitable searching environment (direction of the future company development) for an opportunity via recognizing an opportunity to ranking the potential of an opportunity.

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