Management of Risk in New Product Development (NPD) : Comparison between Japan and Malaysia Small Medium Enterprises (SMEs)

Abstract

The ability of SMEs to innovate and successfully develop new products is crucial for both survival and the continuity development of country's economy. Developing new product thus needs to initially identify risk, manage and then possibly mitigate or reduce it. Comparatively each country has differences in business environment. This study henceforth investigated on Japan and Malaysia SMEs on management of risk in NPD. It is expected to see differences in risk management of developed and developing country. Findings discovered that both countries manage risk in NPD practically similar. However，there are two main variables that are highlighted on adoption of Standard, and information technology (IT).