Product development management in the food system is complex, long term and capital intensive. It is total company management involving every function in the company- so it is managing either a microcosm of the company or an integration of the company functions. For a major innovation, the company may set up a new venture company or division; or a new group of people may form a new company. At this time when many new companies are being formed on the innovations of information technology and biotechnology, it is interesting to speculate on new venture companies in the food industry and the basis of their new innovations. But at the present time
Product development has been a major activity in the food industry for over 40 years, but only gradually has it developed as a strategic business area and also as an advanced technology. For a long time it was essentially a craft, loosely related to the research and engineering areas in the company. The pressures for product development came very strongly from the needs of the growing supermarkets for a constantly changing, extensive mix of products and for continuous price promotions. So there was the drive for product difference