New product developmentIn business and engineering, product development or new product development (PD or NPD) covers the complete process of bringing a new product to market, renewing an existing product or introducing a product in a new market. A central aspect of NPD is product design, along with various business considerations. New product development is described broadly as the transformation of a market opportunity into a product available for sale. The products developed by an organisation provide the means for it to generate income.
Community buildingCommunity building is a field of practices directed toward the creation or enhancement of community among individuals within a regional area (such as a neighborhood) or with a common need or interest. It is often encompassed under the fields of community organizing, community organization, community work, and community development. A wide variety of practices can be utilized for community building, ranging from simple events like potlucks and small book clubs, to larger–scale efforts such as mass festivals and building construction projects that involve local participants rather than outside contractors.
Community organizingCommunity organizing is a process where people who live in proximity to each other or share some common problem come together into an organization that acts in their shared self-interest. Unlike those who promote more-consensual community building, community organizers generally assume that social change necessarily involves conflict and social struggle in order to generate collective power for the powerless. Community organizing has as a core goal the generation of durable power for an organization representing the community, allowing it to influence key decision-makers on a range of issues over time.
Virtual product developmentVirtual product development (VPD) is the practice of developing and prototyping products in a completely digital 2D/3D environment. VPD has four main components: virtual product design (3D shape, 2D graphics/copy) virtual product simulation (drop test, crush test, etc.) virtual product staging (retail space planning, consumer research and behavior analysis) digital manufacturing (process planning, assembly/filling virtualization, plant design).
Product designProduct design as a verb is to create a new product to be sold by a business to its customers. A very broad coefficient and effective generation and development of ideas through a process that leads to new products. Thus, it is a major aspect of new product development. Product design process: the set of strategic and tactical activities, from idea generation to commercialization, used to create a product design. In a systematic approach, product designers conceptualize and evaluate ideas, turning them into tangible inventions and products.
Community organizationCommunity organization or Community Based Organization refers to organization aimed at making desired improvements to a community's social health, well-being, and overall functioning. Community organization occurs in geographically, psychosocially, culturally, spiritually, and digitally bounded communities. Community organization includes community work, community projects, community development, community empowerment, community building, and community mobilization.
CommunityA community is a social unit (a group of living things) with commonality such as place, norms, religion, values, customs, or identity. Communities may share a sense of place situated in a given geographical area (e.g. a country, village, town, or neighbourhood) or in virtual space through communication platforms. Durable good relations that extend beyond immediate genealogical ties also define a sense of community, important to their identity, practice, and roles in social institutions such as family, home, work, government, society, or humanity at large.
Product managerA product manager (PM) is a professional role that is responsible for the development of products for an organization, known as the practice of product management. Product managers own the product strategy behind a product (physical or digital), specify its functional requirements, and manage feature releases. Product managers coordinate work done by many other functions (like software engineers, data scientists, and product designers), and are ultimately responsible for product outcomes.
CrowdsourcingCrowdsourcing involves a large group of dispersed participants contributing or producing goods or services—including ideas, votes, micro-tasks, and finances—for payment or as volunteers. Contemporary crowdsourcing often involves digital platforms to attract and divide work between participants to achieve a cumulative result. Crowdsourcing is not limited to online activity, however, and there are various historical examples of crowdsourcing. The word crowdsourcing is a portmanteau of "crowd" and "outsourcing".
Business modelA business model describes how an organization creates, delivers, and captures value, in economic, social, cultural or other contexts. The process of business model construction and modification is also called business model innovation and forms a part of business strategy. In theory and practice, the term business model is used for a broad range of informal and formal descriptions to represent core aspects of an organization or business, including purpose, business process, target customers, offerings, strategies, infrastructure, organizational structures, sourcing, trading practices, and operational processes and policies including culture.
Strategic managementIn the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates. Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans.
Business architectureIn the business sector, business architecture is a discipline that "represents holistic, multidimensional business views of: capabilities, end‐to‐end value delivery, information, and organizational structure; and the relationships among these business views and strategies, products, policies, initiatives, and stakeholders." In application, business architecture provides a bridge between an enterprise business model and enterprise strategy on one side, and the business functionality of the enterprise on the other side.
Web 2.0Web 2.0 (also known as participative (or participatory) web and social web) refers to websites that emphasize user-generated content, ease of use, participatory culture and interoperability (i.e., compatibility with other products, systems, and devices) for end users. The term was coined by Darcy DiNucci in 1999 and later popularized by Tim O'Reilly and Dale Dougherty at the first Web 2.0 Conference in 2004.
Framing (social sciences)In the social sciences, framing comprises a set of concepts and theoretical perspectives on how individuals, groups, and societies organize, perceive, and communicate about reality. Framing can manifest in thought or interpersonal communication. Frames in thought consist of the mental representations, interpretations, and simplifications of reality. Frames in communication consist of the communication of frames between different actors. Framing is a key component of sociology, the study of social interaction among humans.
InnovationInnovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity realizing or redistributing value". Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies.
Cognitive biasA cognitive bias is a systematic pattern of deviation from norm or rationality in judgment. Individuals create their own "subjective reality" from their perception of the input. An individual's construction of reality, not the objective input, may dictate their behavior in the world. Thus, cognitive biases may sometimes lead to perceptual distortion, inaccurate judgment, illogical interpretation, and irrationality. While cognitive biases may initially appear to be negative, some are adaptive.
Framing effect (psychology)The framing effect is a cognitive bias where people decide between options based on whether the options are presented with positive or negative connotations. Individuals have a tendency to make risk-avoidant choices when options are positively framed, while selecting more loss-avoidant options when presented with a negative frame. In studies of the bias, options are presented in terms of the probability of either losses or gains. While differently expressed, the options described are in effect identical.
Online communityAn online community, also called an internet community or web community, is a community whose members interact with each other primarily via the Internet. Members of the community usually share common interests. For many, online communities may feel like home, consisting of a "family of invisible friends". Additionally, these "friends" can be connected through gaming communities and gaming companies. Those who wish to be a part of an online community usually have to become a member via a specific site and thereby gain access to specific content or links.
Open innovationOpen innovation is a term used to promote an information age mindset toward innovation that runs counter to the secrecy and silo mentality of traditional corporate research labs. The benefits and driving forces behind increased openness have been noted and discussed as far back as the 1960s, especially as it pertains to interfirm cooperation in R&D.
Social relationA social relation is the fundamental unit of analysis within the social sciences, and describes any voluntary or involuntary interpersonal relationship between two or more individuals within and/or between groups. The group can be a language or kinship group, a social institution or organization, an economic class, a nation, or gender. Social relations are derived from human behavioral ecology, and, as an aggregate, form a coherent social structure whose constituent parts are best understood relative to each other and to the social ecosystem as a whole.
