ExtremeFactories Innovation Process, which we call Agile Innovation Process provides an understanding of how to manage the Innovation Process within the organization in agile fashion as well as activities to be taken up to run this process successfully. Each stage of the process is outlined here. These phases are also reflected in our free-as-of-now...
Read more →Traditionally, a new product or service development and the preceding innovation process is conceptualized in a sequential and rigid formal process within the organization. However, present day customers demand more responsiveness from products and services. This renders traditional top-down product and service development methods obsolete. Therefore, we have developed an Agile Innovation Process, based...
Read more →Govindarajan et al (2011) presents a very quick and easy assessment for analyzing the innovation potential of the company. Below we present their framework which we also use in ExtremeFactories’ innovation workbook to assess the company’s’ readiness to adopt innovation methodology. The framework asks to rate nine elements for your company from 1(poor) to...
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The word innovation is often used to define novelty and it could refer to anything. This makes is complicated to comprehend what is actually innovation means for the company. Therefore, to make it more concrete, innovations are often categorized along several dimensions to provide better understanding of the phenomenon. Such a classification not only...
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This question is faced by almost every innovative firm at some point. While collaboration speeds up the innovation process, reduces the risks and costs but at the same time it also reduces control and rewards compared to doing it alone. When it comes to collaboration there are several choice namely: Strategic alliances, joint venture,...
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The multiple definitions of innovation suggest three core stages in the Innovation Process: Idea Generation, Implementation (technology development and manufacturing) and Marketing of the product or service. However, when we look at the innovative companies we find that they have a culture which differs from the non-innovative ones. The setting of a suitable culture...
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Professor Eric Von Hippel in his book ‘Sources of Innovation’ highlighted an interesting phenomenon, he found that sources of innovation vary considerably amongst different industries (Hippel, 1988). Innovations in some industries were mostly developed by the users whereas in others by suppliers or manufacturers, as illustrated in the table. This implies that industry characteristics...
Read more →The concept of “Agile” was developed in the field of Software Development. It emerged when the field was dominated by traditional heavy weight approaches which were rigid in the development process and therefore were slow in reaction to changing market demands or customer requirements. Although, the practice is widely used in software development, its...
Read more →Vaibmu has been invited as a speaker to present at the International Classified Media Association (ICMA) conference in Cologne, Germany on 17-20th April 2013. Along with our partner INNOPOLE, we ran the Business Operations Forum. This is a session within the ICMA General Meeting targeted to business professionals including CEOs, VPs, CTOs, CMOs (…)....
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The article by Bertrand et al. (2005) provides an interesting perspective into how psychological factors interfere with economic rationality in consumer decision-making. They tested several factors which seemingly looked irrelevant from a cost-benefit analysis perspective but do influence consumer decision-making significantly. The study sample is taken from the consumer credit market in South Africa. It...
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This project has received funding from the European Union’s Seventh Framework Programme for research, technological development and demonstration under grant agreement no. 285164