Motivated by the increasing attention given to the operational importance of developing new services, this paper offers a theoretical framework that integrates both process‐ and resource‐oriented perspectives of new service development (NSD) by defining and organizing 45 practice constructs for NSD‐related practices and activities that occur in contemporary service firms. We employ a rigorous procedure whereby both quantitative and qualitative data were gathered through multiple rounds of interviews and card‐sorting exercises with senior service managers. This iterative refinement process helps ensure that the construct domains and definitions are consistent and that they are applicable across multiple service sectors. A primary contribution of this research is to provide precise operational definitions of theoretically important NSD practice constructs. Importantly, this study expands on the NSD literature by including both resource‐ and process‐centric perspectives within a single framework. A second contribution is to illustrate a general methodology for developing clear, concise, and consistent construct definitions that may be generally useful for production and operations management scholars interested in new construct development for emerging areas. Empirical results suggest that the resource‐process framework can help guide and organize future research on, and provide insight into, a more comprehensive view of new service development.