27.5. The Innovation Process

Try these first

1. 1.

   Define Idea Generation in the context of the innovation process.

   Hint

   Think about the first step of the innovation cycle.

2. 2.

   What does the acronym 'MVP' stand for?

   Hint

   Consider what a product needs to be to start with.

3. 3.

   What phase directly follows Idea Generation?

   • Product Development
   • Idea Screening
   • Commercialization

   Hint

   It's about filtering the generated ideas.

4. 4.

   True or false: Commercialization includes selecting a product's pricing.

   • True
   • False

   Hint

   Think about what needs to be done before a launch.

5. 5.

   Given a product concept, outline a brief Idea Generation and Screening strategy to assess its market viability.

   Hint

   Think about external factors like trends and needs that could inform your assessment.

6. 6.

   Design a comprehensive plan for the Product Development phase of a tech product using Agile methodology, including stakeholder involvement and feedback loops.

   Hint

   Consider how fast-paced technology changes may impact your product development.