Lesson 5, 6 & 7, 8

prepared by:

Prof. YmmaN Santos Garcia

The Importance of Crowdsourcing Your
Product Ideas
o You created your product o Whatever the case, to have a continuously
to help customers solve a successful product, you need to continue to
problem and align with revise it, update it, and sometimes add new
features.
your organization’s product o Each of those changes starts as an idea.
vision. Many other changes that don’t happen also
o Your initial product version start as an idea.
probably helped solve a o When ideas that have nothing to do with
problem, but you also solving customers’ problems become
realized you weren’t done. reality, that’s a sign that something is
wrong with a product team’s idea
management approach.
Why crowdsource product ideas?
There are several advantages to crowdsourcing product ideas.

Different perspectives
Perhaps the most interesting reason to crowdsource product ideas is to get
ideas from different perspectives than what you have on your product team.
Even if you have a diverse team, chances are there are other perspectives
that you could benefit from. Crowdsourcing product ideas provide those ideas.

Identify issues with your current product

Crowdsourcing not only allows you to identify new product ideas but helps you
identify pain points with your current product.
What Is the Diffusion of Innovations Theory?

The diffusion of innovations theory is a

hypothesis outlining how new
technological and other advancements
spread throughout societies and cultures,
from introduction to widespread adoption.
The diffusion of innovations theory seeks
to explain how and why new ideas and
practices are adopted, including why the
adoption of new ideas can be spread out
over long periods.
Understanding the Diffusion of
Innovations Theory
The diffusion of innovations theory
was developed by E.M. Rogers, a
communication theorist at the
University of New Mexico, in 1962.
The theory explains the passage of
a new idea through stages of
adoption by different people who
participate in or begin using the new
idea. The main people in the
diffusion of innovations theory are:
Innovators: Those who are open to risks and the first to try new ideas
Early adopters: People who are interested in trying new technologies
and establishing their utility in society

Early majority: Those who pave the way for the use of an innovation
within mainstream society and are part of the general population
Late majority: People who follow the early majority into adopting the
innovation as part of their daily life and are also part of the general
population
Laggards: People who lag behind the general population in adopting
innovative products and new ideas
1
The Benefits Of Embracing Change And Adapting To
New Situations
v Change is a constant part of life. Whether we like it or not,
change is inevitable, and it is something that we cannot
control
v The way we respond to change can make a big difference in
our lives. Some people are resistant to change, while others
embrace it with open arms.
v It's important to understand that embracing change and
adapting to new situations has many benefits that can lead to
a more fulfilling life.
1. Helps us to grow: When we embrace change and step
out of our comfort zones, we open ourselves up to new
experiences and opportunities. This can help us to learn
and grow as individuals, which is essential for personal
development.
2. Builds resilience: Change can be challenging, but it also
helps us to build resilience. By adapting to new situations,
we learn to cope with stress and overcome obstacles. This
resilience can be applied to other areas of our lives,
making us stronger and more capable of dealing with
difficult situations.
3. Increases creativity: When we are faced with new
situations, we are forced to think outside the box and
come up with creative solutions. This can help us to
develop our creativity and problem-solving skills, which
are valuable in both our personal and professional lives.

4. Boosts confidence: Successfully adapting to new

situations can give us a sense of accomplishment and
boost our self-confidence. This can lead to a more positive
outlook on life and help us to achieve our goals.
5. Provides new opportunities: Embracing change can open up
new doors and opportunities that we may not have otherwise
considered. For example, starting a new job or moving to a new
city can provide exciting opportunities for personal and
professional growth.

Embracing change and adapting to new situations is essential for

personal growth and development. While change can be
challenging, it also provides many benefits that can lead to a
more fulfilling life. So, the next time you are faced with a new
situation, try to embrace it with an open mind and see where it
takes you.
Organization and Innovations
Managers often struggle with the first dilemma because they are
weighing the value of creating new ideas against the payoff from
finishing the projects they already have in the pipeline. A
common mistake is to reduce innovation because you do not
have enough R&D resources to develop the ideas.
What is the dilemma of innovation management?
Innovation Management – The Ultimate Guide
The core of the dilemma is that in the beginning innovation, and
more specifically the disruptive kind, is usually inferior to
existing products and services on the market as measured with
the same metrics and value drivers.
What is the dilemma of innovation management?
Innovation Management – ​The Ultimate Guide
The core of the dilemma is that in the beginning innovation, and
more specifically the disruptive kind, is usually inferior to
existing products and services on the market as measured with
the same metrics and value drivers.
Dynamic Capabilities are the firm's ability to integrate, build,
and reconfigure internal and external resources/competencies
to address and shape rapidly changing business environments
What is uncertainty management? How can you reduce uncertainty?
The following tips can help you
Uncertainty management is the to:
process by which individuals v Focus on controlling those
create meaning or understanding things that are under your
control.
in situations in which something
v Challenge your need for
unpredictable, unusual, certainty.
unexpected, or out of the v Learn to better tolerate, even
ordinary occurs and when there embrace, the inevitable
is a need to determine the uncertainty of life.
appropriate meaning v Reduce your anxiety and
stress levels.
How does innovation project management work?
In the day-to-day life of companies, innovation management follows a process similar to traditional
project management but emphasizes creativity and methodologies that allow rapid adaptation to
changes.

qDefine objectives and goals

The first step is to outline the objectives of a new innovation project and set goals. What do you
hope to achieve? What's the problem you want to solve? What improvements can be made in the
short, medium, and long term?

qBuild a multidisciplinary team

The management of innovation projects needs to bring together a team with diverse
characteristics, such as creativity, technical knowledge, technological literacy, good
communication, and availability to develop new skills.
The organizational design
o The first element in building an innovation pipeline is to find and nurture a
pool of dedicated Entrepreneurs, who can form teams that are responsible
for specific innovation projects.
o This role is a lot stronger than your regular product or project manager.
These are real entrepreneurs with clear incentives and a stake in the
projects they are working on.
o They will report directly to the Chief Entrepreneur, with a clear goal of
shaping the future of the company. All companies we work with have a
great talent pool to recruit potential entrepreneurs - you just need to give
them the space to explore and gain experience.
o You can complement internal entrepreneurs with seasoned external ones
who have a track record.
Process Innovation or Innovation Process?
Using new information, technology, and/or knowledge is the
distinguishing factor for innovation.
A few tips on innovating processes:

Keep the end user as the focal point – even if the process is deep inside the organization,
consider the ultimate customer’s perspectives at each organizational level. For example,
in the automotive sector, research has shown that the customer experience – the end-to-
end experience including purchasing and ownership options, services, add-on products,
etc., as well as vehicle performance – has superseded engineering capabilities as the
primary competitive driver (2). Operations processes need to be transformed to align with
the overall customer experience.

Risk tolerance – are the risk criteria too restrictive? Wider tolerance ranges may be
necessary, especially in the early stages of identifying creative solutions. Also, consider
basing risk evaluation on factors such as complexity and ambiguity rather than failure
modes (3).
Embrace new technologies – invest in necessary technologies and
upskilled resources to develop a deep understanding of the information
related to the process. Manufacturers are increasingly using data
analysis, artificial intelligence, and automation for optimizing processes
(4).
Leverage traditional quality tools – Deming taught that process
innovation needed to be part of a continuous improvement foundation
(5). Continuous improvement models such as lean and Design for Six
Sigma are applicable and, in combination with new technologies and
tools, can be powerful enablers of process innovation
W h at Is L ean In n o vatio n ?
Lean innovation is focused on increasing efficiency by capturing customer feedback early
and often and minimizing waste in the product development cycle. The process prioritizes
experimentation over elaborate planning, and celebrates continuous, incremental
improvement.
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