Process to quickly test hypotheses and ideas by rapid prototyping and piloting. Used to gather customer feedback.
Innovation frameworks are structured guidelines used to steer the process of ideating, developing, and implementing new solutions.
Innovation Barriers are obstacles that hinder the progress and implementation of new ideas within a company or market.
Competitive advantage: A unique edge a company has over rivals, allowing it to generate greater sales, margins, and retain more customers.
Experimentation is key to successful innovation. By testing assumptions and gathering data, companies can make evidence-based decisions to avoid product failures.