Phase 2.3 – Mini Case Study – Portakabin Achieving Growth through Product Development


A main source of business growth is through product innovation. New products often come from ideas. These are either new ideas or ideas for extension strategies for existing products or services. An idea is a plan, a scheme, method or a thought process. By their very nature new ideas are creative. They often provide solutions to problems. They help to meet the needs of customers and they also make products distinctive from those of the competition. If organizations are to succeed, they rely on a constant stream of new ideas. Ideas for new products can come from many places, such as market research or research and development. Ideas can also come from monitoring the actions of competitors or identifying a gap in the market. Organizations need a coherent process to develop potential new ideas. Many new ideas follow a process before being implemented. One process could be: ideas are generated, captured, screened and tested before being used. For many large organizations this is a constant cyclical process.

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