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Phases of innovation May 25, 2008

Posted by Coolguy in Management.
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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.
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