Process to quickly test hypotheses and ideas by rapid prototyping and piloting. Used to gather customer feedback.
Adaptation of products and services to individual customer needs. Features of product are modified to meet specific requirements.
The process of developing new ideas through collaboration with external partners, such as customers, suppliers, and other stakeholders.
Exploitation is using the current resources of the firm to improve innovations incrementally.
Experimentation is key to successful innovation. By testing assumptions and gathering data, companies can make evidence-based decisions to avoid product failures.
