Research on Enterprise Product Innovation Assessment and Best Practices

Driven by managers' desire to identify and implement an optimal new product development process, the search for best practices of new product development is ongoing. This article proposes a methodology to identify best practice enterprises, discovers the best practices in new product development through statistic analyzing the significance of difference of the processes, tools or methods between the best and the rest. Structural Equation Modeling is also used to probe the internal mechnism and path to improve product innovatoin performance. This study can give deep insight that how industry leaders do things and thereby to identify what may have to change for other enterprises to create a sustainable, competitive advantage.