Formalization and performance in new service development
Empirical findings from German and Swiss companies
Is there any relationship between the formalization of new service development (NSD) processes and firm performance? And if formalized NSD process and firm performance are correlated, what are the main drivers? The aim of the study is to explore and identify the degree of NSD processes formalization in German and Swiss companies, and to investigate the impact of process formalization on firm performance. This study is based on a large sample of data collected from more than 500 companies across Germany and Switzerland. The result shows that the relationship between formalized NSD process and performance is significant in German and Swiss firms.