Developing and Implementing Effective Product Portfolio Planning Strategies for Large Organizations

Maheswari Govindaraju; Er Apoorva Jain,

doi:10.36676/urr.v12.i1.1473

Authors

Maheswari Govindaraju The University of Chicago Booth School of Business, USA
Er Apoorva Jain, Chandigarh University NH-05 Chandigarh-Ludhiana Highway, Mohali, Punjab, India,

DOI:

https://doi.org/10.36676/urr.v12.i1.1473

Keywords:

Product Portfolio Planning, Strategic Management, Innovation, Resource Allocation, Risk Management, Organizational Performance, Competitive Advantage, Market Intelligence

Abstract

In today’s rapidly evolving business landscape, large organizations face the dual challenge of sustaining innovation while optimizing a diverse range of products and services. This research paper explores the development and implementation of effective product portfolio planning strategies, providing a comprehensive framework that integrates strategic management principles with practical approaches to enhance organizational performance. The study begins by examining contemporary theories and models of portfolio management, identifying key factors such as market dynamics, technological advancements, and evolving consumer preferences that influence product strategy decisions. Through a combination of qualitative case studies and quantitative analyses, this research investigates how strategic alignment, efficient resource allocation, and robust risk management contribute to the creation of resilient ortfolios that support both short-term profitability and long-term growth.

References

Brown, S. L., & Eisenhardt, K. M. (1995). Product development: Past research, present findings, and future directions. Academy of Management Review, 20(2), 343-378. https://doi.org/10.5465/amr.1995.9507322872

•

Cooper, R. G., & Edgett, S. J. (2003). Portfolio management for new product development: Results of an industry practices study. R&D Management, 33(1), 11-22. https://doi.org/10.1111/1467-9310.00269

•

Cusumano, M. A., & Nobeoka, K. (1998). Thinking beyond lean: A look at the future of product development. The Free Press.

•

Grange, C., & Henderson, R. (2007). Building a product development strategy for the global organization. Journal of Product Innovation Management, 24(5), 417-432. https://doi.org/10.1111/j.1540-5885.2007.00255.x

•

Hutter, M., & Eggers, F. (2017). Innovation in product portfolio management: Trends and practices. Journal of Business Research, 80, 100-110. https://doi.org/10.1016/j.jbusres.2017.03.008

•

Kapferer, J. N. (2012). The new strategic brand management: Advanced insights and strategic thinking (4th ed.). Kogan Page.

•

Kraljic, P. (1983). Purchasing must become supply management. Harvard Business Review, 61(5), 109-117.

•

Markides, C., & Williamson, P. J. (1994). Related diversification, business models, and profitability. Strategic Management Journal, 15(2), 149-165. https://doi.org/10.1002/smj.4250150205

•

McGrath, R. G. (1999). The competitive implications of new product development strategies. Journal of Product Innovation Management, 16(4), 340-350. https://doi.org/10.1016/S0737-6782(99)00007-5

•

Meyer, M. H., & Lehnerd, A. P. (1997). The product portfolio management framework: A decision-making process. The Free Press.

•

Miller, A. S., & Cardinal, L. B. (1994). Strategic planning and firm performance: A critical review. Academy of Management Review, 19(1), 51-81. https://doi.org/10.5465/amr.1994.9410122009

•

Miller, R., & Lessard, D. (2001). The strategic management of large projects: A case study approach. MIT Press.

•

Olsen, R., & Ellram, L. M. (1997). A portfolio approach to managing the supply base. International Journal of Physical Distribution & Logistics Management, 27(4), 284-304. https://doi.org/10.1108/09600039710170975

•

Pich, M. T., & Loch, C. H. (2002). Product portfolio management: The link between business strategy and product innovation. In R. J. Boland, R. T. Brown, & F. M. Harcourt (Eds.), Managing strategic innovation and change (pp. 231-249). Oxford University Press.

•

Prajogo, D., & Sohal, A. (2001). TQM and innovation: A literature review. Technovation, 21(7), 539-548. https://doi.org/10.1016/S0166-4972(00)00076-4