HC8-creating new products and services (2) Flashcards

1
Q

four main types of team structure for new product development:

A
  1. functional structure: traditional hierarchical structure communication by function managers according to standard and codified procedures
  2. lightweight product manager structure: traditional hierarchical structure, project manager provides an overarching coordinating structure
  3. lightweight product manager structure: led by product manager with influence over personnel and strategic directions of the areas critical to the project.
  4. Project execution teams: full-time project team where functional staff leace their areas work on the project, under the project leader direction
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2
Q

Every stage in the stage-gate model consists of:

A
  1. deliverables: results of completed activities brought to decision point.
  2. criteria to knock-out and prioritize
  3. Outputs: decision with plan for next stage
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3
Q

four discriminative phases of implementation:

A
  • Concept generation – identifying the opportunities for new products and services.
  • Project assessment and selection – screening and choosing projects which satisfy certain criteria.
  • Product or service development – translating the selected concepts into a physical product or a new service.
  • Product or service commercialization – testing, launching and marketing the new product or service.
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4
Q

scrum

A

stretch goals, rapid cycles of prototyping require self-managed and cross-functional teams

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5
Q

lean start-up

A
  1. Build-measure-learn: design a hypothesis to test an idea and then adjust the project on the basis of that feedback.
  2. Minimum viable product: the minimum configuration of the new venture idea that can be used to run a build-measure-learn cycle.
  3. Validated learning: work with data that provide useful information and help learning about the venture
  4. Innovation accounting: using data to ensure resources are being well spent
  5. Pivoting: testing ideas out on customers and adapting them according to feedback from several learning cycles
  6. Single unit flow: working in small batches and completing the tasks on those rather than working in high volume
  7. Line stop/Andon cord: stop production when an error occurs and continue once they are fixed
  8. Continuous improvement: keep reviewing and improving the core product and the process delivering it
  9. Kanban: put improvement projects around the core product idea into ‘buckets’, which are processed and progressed in a systematic fashion
  10. Five whys: diagnostic tool that helps to find the root causes of problems and directs action
    towards solving those problems rather than treating symptom
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6
Q

factors influencing product success or failure

A

-Product advantage
- Market knowledge
- Clear product definition
- Risk assessment
- Project organization
- Project resources
- Proficiency of execution
- Top management support

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7
Q

Challenges in open innovation boil down to four issues

A
  • Conditions and context, e.g. environmental uncertainty and project complexity
  • Control and ownership of resources
  • If you do not have ownership of resources you are forced to ask others to provide them
  • Coordination of knowledge flows
  • Creation and capture of value
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