Minimum Viable Product vs Product Market Fit: which will move the needle in Financial Services?
The concept of a minimum viable product (MVP) is now pervasive. But it is not the only way to think about market development for new products. What’s the right way to be entrepreneurial, especially if you work in a highly regulated industry like finance?
Think like a startup?
Should large companies be looking to act like a startup? Sure, but like everything in business, the simple idea carries important nuances.
Design as Culture. The Problem of Humanising Innovation
Design thinking is more than just innovation. It is a broadly based approach to solving problems. But does it go far enough in humanising the world around us? Hack and Craft talked to one of the leaders of the design thinking movement in Europe, Arne Van Oosterom.
Flow vs Agile: The Battle for a Consistent Innovation Method
Most organisations have gone some way now towards implementing agile development techniques. It’s likely as well that they will be using lean in other areas of innovation. The idea that innovation can and should be done as cheaply as possible has taken hold in business as we all seek to innovate more and faster for the sake of survival (and prosperity of course!). Along with it, though, should come the realisation that a lot of what passes for innovation is wasted effort. We are applying methods to a process without asking if the process itself is really necessary or efficient.
The Culture of Innovation Revisited
It is easy to give a view on the important issue of how to create a culture of innovation. Rather more difficult is to clarify what type of innovation and culture change is relevant to any given circumstances. We are currently overwhelmed with messages to “fail fast” but that is just one culture of innovation and it hardly guarantees success. It's time to widen the agenda.
Fostering the IT Business Dialogue Part 2: The new language of business
In the first part of this short series, I focused on aspects of IT that people on the business side typically don’t keep abreast of. That lag creates tension in IT-Business relationships, which in turn slows down innovation. The business often does not know what modern IT is capable of - in terms of applications, speed of delivery or integration. But the same could be said reciprocally - that IT does not always keep up with the language of business. In fact, today we are seeing a new language that only a relatively small group of companies is really on top of.
Fostering The IT Business Dialogue Part 1: The new language of IT
To the IT department a minimum viable product can mean an opportunity to interact with customers with a basic new prototype. To a business leader, a minimum viable product might mean the minimum that is viable in the market. There are big differences between those two - from a few wireframes to help elicit interest, to a debugged system ready for prime time.