What are the benefits and drawbacks of using a product innovation framework in Product R&D?
Product innovation is the process of creating new or improved products that offer value to customers and stakeholders. Product R&D is the function that drives product innovation through research, design, and development activities. However, product innovation is not a linear or predictable process. It involves uncertainty, complexity, and risk. How can product R&D teams manage these challenges and deliver successful products? One possible solution is to use a product innovation framework.
A product innovation framework is a set of principles, methods, and tools that guide and support product R&D teams throughout the product innovation process. There are different types of product innovation frameworks, such as the Stage-Gate model, the Lean Startup approach, the Design Thinking methodology, and the Jobs to be Done theory. Each framework has its own strengths, weaknesses, and assumptions. In this article, we will explore some of the benefits and drawbacks of using a product innovation framework in product R&D.