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Boosting your product innovation

Boosting your product innovation

Entrepreneurs must constantly develop their products/services in order to stay in the market. Building innovative products and services requires forecasting many aspects in the environment internally in terms of the manufacturing process, marketing, and operations and externally in terms of users and market needs. This is becoming more difficult day by day as the market tends to be more competitive. In this toolkit, we provide every startup team with several methods and techniques to start you new product innovation. Not only this but also look into different aspects of your organization and learn to build an innovative company.


Tools

Stage-gate Process

Stage-gate is a new product development or process improvement tool. Every product or process innovation begins with an idea and ends with the launch. Using this tool every business has to take several steps defined as processes or stages separated by gates. The stages represent  the activities and research phase while the gates represent the decision-making phase following every stage.

4Ps- Exploring the Innovation Space

This tool enables you to discover what the innovation process can improve and bring to your business. The innovation mix, Paradigm, Product, Position and Process, is not to be mistaken with the market mix and its other 4Ps: Product, Place, Promotion and Public Relations.

In planning, the 4Ps helps you understand where you are and how you can innovate to improve your Product, Process, Position and Paradigm. It gives you a direction of where you need to go, and in which areas of your business that you need to innovate. The Innovation space supports the idea generation process and how you can incubate a new idea.

 

SCAMPER method

SCAMPER is a method you can use to ignite your creativity and help you overcome any challenge you may be facing in your business. SCAMPER is based on the assumption that everything new is a modification of something that already exists. It uses a list of probing questions to help you reach to the creative within. SCAMPER was created by Robert Eberle in the early 70s, based on an initial list from brainstorming originator Alex Osborn. And is still used till now.

Each letter in the acronym represents a different way you can alter the way you see your challenges and trigger new ideas:

●      S = Substitute

●      C = Combine

●      A = Adapt

●      M = Magnify

●      P = Put to Other Uses

●      E = Eliminate (or Minify)

●      R = Rearrange (or Reverse)

The four lenses of innovation

This is a strong tool to power your creative thinking. It gives you the ability to find and explore fresh perspectives. It was popularized by Rowan Gibson, the world-renowned innovation expert and thought leader, in his book: The four lenses of innovation. It looks inside the human mind and recognizes how it actually generates new ideas.

 

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