FROM PRODUCT DEVELOPMENT TO INNOVATION

摘要

Eighty percent of executives believe the future of their company depends on developing a unique superior product with a compelling value proposition (Maddock, 2011). Innovation is critical for existing companies and for forming new businesses. The focus is on disruptive innovation instead of incremental improvement and goes beyond the traditional product development model. Emphasis must be placed on the early stages of innovation, customer empathy rather than voice of the customer, and developing products and services that delight the customer. The paper mirrors my journey from teaching product development to teaching technical innovation. The paper compares the traditional product development processes with an emerging approach to technical innovation. Consideration is given to innovation within a company structure and entrepreneurship. Three of the approaches considered are Design Thinking, Agile, and the Business Model Canvas. Design Thinking is a model out of the D-School at Stanford University which focuses on the early stages of design. Agile is a process that came out of software development, and the Business Model Canvas which provides a flexible space for developing the business model. A case study addresses the early stages of innovation is included. The case study begins with observations of the aging population and nutrition and ends with a prototype and business model.