Project Visioning: Its Components and Impact on New Product Success

14 Pages Posted: 26 Sep 2012

See all articles by Gary Lynn

Gary Lynn

Stevens Institute of Technology - School of Business

Ali Akgun

affiliation not provided to SSRN

Date Written: September 25, 2012

Abstract

The concept of corporate vision has been receiving considerable attention in the strategy scholarship. A clear and lofty organizational vision can provide direction to a company and can positively impact its ability to succeed. Yet research on vision at the project level has been curiously lacking. The purpose of this research is to define project vision, discuss its components and explore its impact on successful new product development. After studying the vision on a series of 13 innovations at three companies (Apple, IBM and HP), we identified several components of an effective project vision that include vision clarity, vision agreement/support and vision stability and assessed their impact on new product success. To confirm the validity and generalizability of our observations, we then tested these insights on 509 new product teams from a wide variety of firms. We found that an effective vision varies depending on the innovation type – incremental, evolutionary and radical. Our results demonstrate that vision clarity is positively associated with success in evolutionary (market or technical), and radical innovations, but not for incremental projects. Vision stability is positively associated with success in incremental and evolutionary market innovations; and vision support is positively associated with success in incremental, and evolutionary technical innovations.

Suggested Citation

Lynn, Gary S. and Akgun, Ali, Project Visioning: Its Components and Impact on New Product Success (September 25, 2012). Available at SSRN: https://ssrn.com/abstract=2151901 or http://dx.doi.org/10.2139/ssrn.2151901

Gary S. Lynn (Contact Author)

Stevens Institute of Technology - School of Business ( email )

Hoboken, NJ 07030
United States

Ali Akgun

affiliation not provided to SSRN ( email )

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