The value of experimentation in innovation

The value of experimentation in innovation

Companies often face unexpected challenges that prevent them from turning their innovative ideas into successful products. The key to avoiding product failures is to experiment with different value propositions, designs, and messaging. By gathering data and evidence about consumer preferences, companies can validate their assumptions and make evidence-based decisions. Experimentation should be an iterative process that allows companies to gather more information and find unexpected and validated ideas. With the right approach, experimentation can add value to the entire product development process.

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More Innovation Resources:

A Modern Reading of Drucker’s Classic “Innovation and Entrepreneurship”

Peter Drucker's book "Innovation and Entrepreneurship" from the 1980s is still relevant today in highlighting the importance of innovation as a management tool and providing practical approaches to it.

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What is Modular Innovation?

Learn about Modular Innovation, a technique that uses product modules to make technology improvements without changing the architecture of a product, and its importance in design thinking and innovation management.

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Separating entrepreneurs from corporate innovators

Entrepreneurs, inventors and corporate innovators share similarities in creating new technologies but face different challenges. Corporate innovators arguably have the most difficult job due to resource allocation and risk factors.

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