Process to quickly test hypotheses and ideas by rapid prototyping and piloting. Used to gather customer feedback.
A type of innovation that involves making incremental improvements to an existing product or process in order to maintain its competitive advantage.
Red Ocean Strategy is a business approach focused on competing in an existing market by trying to outperform the competition. It is innovation in the same space as competitors, in the competitive red ocean full of sharks.
Short-Term is a strategy that is focused on the immediate future.
Experimentation is key to successful innovation. By testing assumptions and gathering data, companies can make evidence-based decisions to avoid product failures.
