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Why Traditional Strategy Does Not Win

Traditional strategy development assumes that markets/industries are stable, but today that is not the rule for most firms. Strategy is built upon certain vital assumptions about the external environment and about what the firm can control. For example, the external environment includes competitor activity, customer needs, technological developments, economic trends and regulatory changes. Virtually all…
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A Non-Traditional Approach to Strategy Workshop – MIT Sloan Alumni Club of Chicago Event

Strategy 2 Market is hosting this MIT Sloan Alumni Club of Chicago event Thursday, May 25th, 6 pm – 8 pm In this highly interactive workshop on a non-traditional approach to strategy, the presenters (Mary Drotar and Kathy Morrissey, both University of Chicago Booth Alum) are seeking input on an adaptable approach to strategy from…
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Is There Customer Uncertainty About Buying Your Products?

customer uncertainty about buying products

As a marketer, it is imperative to reduce any uncertainty customers may feel about buying your product. Customer uncertainty can take the form of needing more information, not having enough experience with your product, or not enough evidence to assure them that it will perform as desired. Customer uncertainty contributes to indecision on trying or…
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Think like a detective when dealing with uncertainty in product development

parallel investigation

Sometimes in product development the team has several choices on how to create the product. Choices can include: Which technologies to use Which market segments to serve Which value proposition to deliver Which elements of the business model to leverage Often times these decisions are interdependent. For example, choosing a particular market segment may eliminate…
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The Different Flavors of Experimentation

We attended a Lean Launch Pad seminar where an attendee indicated that they didn’t understand where hypothesis testing fit into the lean startup process. I believe one of the best explanations I have read on the topic is from Garvin in his classic book, Learning in Action.[i] He discussed two particular types of experiments: exploratory…
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PDMA – Product Development and Management Association : Blogs : Exploratory PD® Harnesses the Power of an ‘Adaptive’ Product Development Process to Manage Uncertainty

Guest post by Strategy 2 Market on the Product Development and Management Association (PDMA) blog: Last week, Mary Drotar and Kathy Morrissey of Strategy 2 Market, Inc. introduced the PDMA Chicago Chapter to Exploratory PD (ExPD), the new approach to product development covered in our presentation at the PDMA annual conference in November 2015. ExPD…
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Are you a mad scientist?

Do you ask yourself this question…’Am I a mad scientist*?’ when your project has doubled in cost, the feature set is stripped beyond recognition, and it no longer meets original customer requirements since they’ve changed numerous times during the project?   And to top it all off, you’re experimenting and trying to solve an important problem…
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What does decentralized decision-making really look like?

Adaptability and the ability to react quickly is paramount to successful product development. Typically, the project team can make better and/or faster decisions than management because they are closer to the details of the project. But, does decentralized decision-making mean leaders are out of a job? No, definitely not. As a leader, it is not…
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Dealing with Uncertainty in Product Development

One of the defining characteristics of product development is making decisions and judgments, in the face of uncertainty. Exploratory Product Development (ExPD) is based on the premise of reducing risks and uncertainty. We’re defining uncertainty as having imperfect or limited knowledge about something, resulting in the potential for surprise or unpredictability in the future. You’ll…
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Look at Product Development Differently … Take a Systems Approach

product development system

Some individuals have tried to simplify product development into two neat, pithy phrases: “choosing the right project” and “doing the project right.” These statements oversimplify the goal and imply that the work, coordination, and decisions involved in choosing the right projects and doing the projects right are simple and straightforward. The truth is, product development…
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