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Evaluating investments in new product development has been a much debated question over the last few years. Traditional methods are recognized as inadequate but there is no dominant methodology. Presents a case study, developed at Olivetti, in which new and old methodologies have been used together to analyse and evaluate an investment project in new product development. The suggested approach supports decision making better than scoring methods, and data obtained are more reliable than those provided by traditional financial methods.

An increasing number of firms are planning to become “time‐based companies”, that is to consider time as the main issue of their manufacturing strategy. However, such change in attitude, in order to be effective, must be supported by a performance measurement system focused on time. This article suggests a framework useful for designing a performance measurement system which is consistent with time‐based principles and can support managers both in strategic and in operating decisions. The framework takes into account the different ways through which a company can use time to create a competitive advantage and considers the main activities that are critical for achieving such results. Hence, a “minimum set of measures”, consistent with the information requirements of each company, is determined.

Draws attention to the recent emergence of a new model of how firms compete – known as the resource‐based approach – which views the firm as a set of critical resources, defined as resources which are scarce, defendable, difficult to market and initiate and hence usable as the basis for long‐term competitive advantage. Offers a reference framework for creating a resource measurement system and links the resource measures to the overall performance of the company in terms of shareholder value.

As our world becomes increasingly more technology driven and global competition continues to intensify, the technology resource components available to a firm will be required to become more sophisticated in order to achieve and maintain a competitive advantage. Higher levels of sophistication are achieved through technological innovation that is effectively managed. But, to effectively manage technological innovation, we must first come to a clearer understanding of the resource components of technology. This paper describes the way various people perceive the meaning of technology, discusses the confusion that exists, and suggests a construct for classifying the components of technology to mitigate the confusion. Finally, a framework for benchmarking and technology assessment is presented to suggest a way for a firm to better manage its technology component sophistication level for global competition.