Executive in wait

Here is a ten stages of innovation, that I can very much relate to (based on)

* Scepticism
* Enthusiasm
* Brass band and fireworks
* Results aren’t visible
* Existing business suffering
* Is it worth it?
* Start to see pay offs
* This is taking time
* Maybe not a bad idea
* It works!

Off late I have been working on a development of a new product and reading about product development process and innovation. Here are some interesting things I gleaned.

Phases of innovations are typically mystery, model, method and madness:

• Mystery: This is where innovator explores and develops the idea. This is a resource intensive process.
• Model: In this phase the idea moves mainstream, into market, and its feasibility(technical, customer needs, cost effectiveness, market) are determined.
• Method: This is all about making the idea ready for mass production. It focuses on producing as many of the products with as possible with as inputs as possible.