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MBA 510 USA World Bank Problem Solution
University of Phoenix
February 4, 2008
Problem Solution: USA World Bank
USA World Bank is a major bank with both an international and domestic presence. For the past several years, the organization's new product launches have only been marginally successful. The bank realizes that innovative, desired products are key to establishing a competitive advantage and gaining market share. "… innovation must be managed holistically: with integrated processes that are designed to generate new ideas, evaluate them, take the best ones forward and manage new launches to achieve profitability. (Beard & Dougan, 2004) USA World Bank will need to evaluate their processes and procedures regarding new product development and determine appropriate ways in which to improve their performance.
Issue and Opportunity Identification
USA World Bank faces challenges inherently brought on by there infrastructure. The Board of Directors only recently expanded their depth of expertise to include a member with significant experience in statistics and research. Perhaps as a result of not understanding statistics, the board had never questioned the research results presented to them. Over the past few years, the new products that were launched have only been marginally successful. It is possible that the practices of Best Market Research may have contributed to unreliable data from which the board made its decisions. Brian Allen, the President of New Product Development, has had some successful product launches in the past but recently has felt an increased pressure to produce better performing products. This increased pres ...