The Scott Paper Company is a USA-based corporation that manufactures primarily paper based consumer products, such as tissues and paper towels. In 1995 Scott Paper merged with Kimberly-Clark however …
The Scott Paper Company is a USA-based corporation that manufactures primarily paper based consumer products, such as tissues and paper towels. In 1995 Scott Paper merged with Kimberly-Clark however the brand of Scott paper remains. In this scenario, Scott paper is managing a portfolio of new product launches. Its overall business strategy is to extend an existing international consumer Products Company into new international regions and markets. Scott Paper wants to grow incrementally and become more efficient with its Research and Development spending. The R&D efficiency focus is both internal within Scott Paper and external through Open Innovation sources.
The efforts by a company to orchestrate the whole process of new product development strategy is generally seen as a good practice and a precursor to perform an excellent project portfolio management to meet the strategic goals of identifying, assessing, prioritising and selecting various projects for new product launches. Adopting a pragmatic approach to new product development strategy will substantiate the proper use of project portfolio management methodologies and project selection processes based on the alignment with the company’s strategic mission.
The report seeks to answer and critically discuss the questions: What project portfolio elements are currently in place in the case company’s new product development processes? How does the company’s new product development approach reflect its overall business strategy? What are the limitations with the approach that the company is following?