New Product Development - Biotechnology in Australia

The paper is based on research to determine the process used in the field of Biotechnology to develop new products. Biotechnology whilst not in itself an industrial sector, is rather a set of enabling technologies that have application in a wide range of industries and research fields. The market for such endeavours is projected to be of the order of US$75 billion by the year 2000. New product development has long been recognised as one of the riskiest activities of business enterprises. This research explores questions such as what activities the firm undertakes in new product development, how proficient they were in so doing and what effect the firms organisational characteristics have on new product development efforts.