Abstract: We are facing here today the key issues that face us in the competitive environment. North American companies are struggling to compete in the global marketplace. Gone are the days when presence ensured success. Then, sales and earnings were guaranteed. Today the competition is intense. Many manufacturing and service companies are no longer competitive. Traditionally, manufacturing companies have created the most wealth for the community and economy. Losing this ability to create wealth is tragic and unnecessary. A company can only be successful by focusing on customer satisfaction at competitive costs. Revenue growth and earnings growth require a continuous stream of products that anticipate the customers' needs, result from shorter and shorter innovation cycles, continually improve in quality, and are produced at improved costs on each cycle. The best opportunities for increased quality and decreased costs are with new products. Sure, work on quality and costs everyday. The biggest changes, however, will come through the new product development cycle. We must improve our development processes to provide leadership products which result in high levels of customer satisfaction. This is a prerequisite for business success. When presence in the marketplace was a virtual guarantee of success for a North American company, technology tended to drive the products, and the customers bought virtually everything that was produced. Functional excellence was stressed within companies . . . and that was enough. Effective planning processes were not a prerequisite for success. Today success demands highly developed business research and planning processes, and functional excellence combined with organizational capabilities that ensure commercialization excellence. !0
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