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Content on How to Modernize Your Product

Strategy, Brought to you compliments of Jama
Six Myths of Product Development
Many companies approach product development as if it were manufacturing, trying to
control costs and improve quality by applying zero-defect, efficiency-focused techniques.
While this tactic can boost the performance of factories, it generally backfires with product
development. The process of designing products is profoundly different from the process of
making them, and the failure of executives to appreciate the differences leads to several
fallacies that actually hurt product-development efforts.

In this article, the authors, an HBS professor and a consultant, expose these misperceptions
and others and look at six dangerous myths.

Why Strategy Execution Unravels—and What to Do About It
Two-thirds to three-quarters of large organizations struggle with execution. And it's no
wonder: Research reveals that several common beliefs about implementing strategy are just
plain wrong. This article debunks five of the most pernicious myths.

Using the Crowd as an Innovation Partner
From Apple to Merck to Wikipedia, more and more organizations are turning to crowds for
help in solving their most vexing innovation and research questions, but managers remain
understandably cautious. It seems risky and even unnatural to push problems out to vast
groups of strangers distributed around the world, particularly for companies built on a history
of internal innovation.

To conduct experiments that are worth the expense and effort. How Companies Can Learn to Make Faster Decisions SpaceX had a problem. the speed of decision making matters. which SpaceX added to a list of outstanding questions. complementors. a fax) whenever they had a query. The Discipline of Business Experimentation The data you already have can't tell you how customers will react to innovations. NASA sent a fax (yes. you must subject it to a rigorous experiment. tests do not adhere to scientific and statistical principles.The concerns of managers are reasonable. Managers at the aerospace manufacturer wanted to make faster decisions for one of their big clients—NASA—by finding alternatives to the high volume of meetings and cumbersome spreadsheets used for tracking projects. they have identified when crowds tend to outperform internal organizations (or not). The company then assembled a weekly 50-person meeting to review product status information contained in spreadsheets. To discover if a truly novel concept will succeed. but most are pretty bad at it. managers often end up interpreting statistical noise as causation—and making bad decisions. After a decade of study. collaborative communities. according to research from Forrester Consulting and Jama Software. and labor markets—and offer a system for picking the best one in a given situation. In most companies. . In today's organizations. Others at Gartner cite "speed of decision making" as the primary obstacle impacting internal communication. addressing each question individually before sending the responses back to NASA. the authors write. SpaceX's dilemma is not an uncommon one. companies need to ask themselves these important questions. Initially. They outline four ways to tap into crowd-powered problem solving—contests. One-third of all products are delivered late or incomplete due to an inability or delay in decision-making. but excluding crowdsourcing from the corporate innovation tool kit means losing an opportunity. As a result.