Design, Risk and New Product Development in Five Small Creative Companies

Robert N. Jerrard, Nick Barnes, Adele Reid

Five small creative companies were studied in detail over extended periods of the New Product Development (NPD) lifecycle. Design was a key aspect of company activity and central to the NPD process. Novel risk-tracking participatory methodologies were developed and employed to identify perceived risks at the outset of NPD and to track risk thereafter. Semi-structured interviews were undertaken on regular basis with company personnel responsible for design to provide rich contextual material. Results showed a wide diversity of perceived risk with little commonality amongst the companies – despite shared core criteria amongst the firms themselves, and the new products that were tracked. Implications for the sampled companies, and wider policy in respect of business support strategy, are considered.