Many corporations suffer from aging product lines that are prone to at
tack by more aggressive, entrepreneurial innovators. Managements ought
to systematically plan and implement the renewal of their product pla
tforms, with the objective of bringing excitement to the corporation's
existing markets and forging ahead into new, emerging ones. This elev
ates new product development from a single product, single market focu
s to a higher plane that embraces a stream of products based on common
product and process technology.