6 Questions
Which of the following best describes the relationship between product innovations and the underlying process?
Product innovations require iteration and feedback loops to uncover crucial, often hidden aspects
What is the primary purpose of Product Portfolio Management?
To strategically oversee and manage all the products within a company's portfolio
How does Product Portfolio Management help maximize a company's goals?
By ensuring that only products that meet financial and strategic criteria are pursued
What is the key benefit of an open-innovation approach to product development?
It enables the company to leverage external expertise and resources to uncover hidden aspects of the product
Which of the following is the most important factor in determining the success of a new product innovation?
The alignment of the new product with the company's overall corporate strategy
How does a bottom-up product platform strategy differ from a top-down approach?
Bottom-up strategies involve modifying product components to be shared across a family of products, while top-down strategies develop a family of products that share the same components
Explore the concept of status quo bias in business, where companies tend to cling to existing successes and resist change. Learn about the 5 pathways for radical innovation that can lead to business growth by creating new value in the market.
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