Relationship between best practices of company culture and performance of new product development in smes.

The study responds to the need for more theory-based empirical research about NPD (New Product Development) best practices and its relationship to firm performance in SMEs (Micro, Small, and Medium size Enterprises), low-tech sectors, and emerging markets. The structural equation model has as its dependent variable NPD performance, as predictors NPD best practices of company culture and NPD best practices of strategy. Company size and power distance are the moderating variables, and company age is the control variable. The research also seeks to identify and then evaluate NPD success factors and NPD limitations in Colombian-apparel companies that design periodically new products since the sample will include this type of companies located in Bogota, Cali and Medellin (the main production centers).