Verification and Validation of the New Product’s Outcomes Development on Open Innovation in Small and Medium

Subject Areas : International Journal of Finance, Accounting and Economics Studies

Amir Tooraj Kalantari ¹ , mahsa akbari ^{2 *} , vahid makizadeh ³

1 - Ph.D.student, Department of Business Management, Qeshm Branch, Islamic Azad University, Qeshm, Iran
2 - Assistant Professor,Department of Business Management, Karaj Branch, Islamic Azad University, Karaj, Iran.
3 - Associate Professor,Department of Business Management and Accounting, Hormozgan University, Bander Abbas, Iran

Received: 2024-08-21 Accepted : 2024-12-07 Published : 2024-12-06

Keywords: verification , product , development, open innovation, small and medium enterprise,

Abstract :

Purpose: The current research is conducted to achieve the verification and validation of the outcomes of new product development on open innovation in small and medium-sized companies by using a mixed method.

Design/Methodology/Approach: The research’s methodology is derived from internal and semi- structured interviews with 16 subject experts and managers in the field of knowledge-based country’s companies. They were selected purposefully by sampling related to quality. Two coders confirmed the validity of the research data through intra-subject agreement. The data analysis was done by Strauss and Corbin's model in open-axis and selective coding in TI8 information software. The statistical population in the department was a number of employees in business and production companies; there were 384 people selected as the sample size using Cochran's sampling formula. The tool for gathering information is a researcher's questionnaire. This questionnaire was the qualitative result of the research, and for validity and construct validity, the CVR method and analytical factor analysis were used. The reliability of the instrument was increased by using Cronbach's alpha coefficient.

Findings: The results indicate the outcomes include financial-economic outcomes, marketing outcomes, and structural outcomes. The findings indicate the new product development model has a good fit. Also, it identified outcomes based on the discovery of the factor discussed, which can directly affect economic and structural areas. In the field of economic finance, the use of open innovation helps the production of new products and sales development.

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