Kathy Morrissey and Mary Drotar, Partners of Strategy 2 Market, received a grant from the National Science Foundation (NSF) Innovation Corps (I-Corp) for their research in uncertainty and risk in product development. In particular, for their Business Fit Framework® (BFF) software tool, that incorporates behavioral economic principles to improve team decision-making.  It helps product development teams to identify, manage and track the reduction of risk and uncertainty.

They are also working with Artificial Intelligence experts in integrating predictive analytics into the BFF tool. This grant is held through the University of Chicago and supported with funding from the NSF. The I-Corps program is specifically designed for participants working on projects related to the STEM fields.

Part of the grant is interviewing top innovation leaders from across multiple disciplines (R&D/Engineering, Product Management, Marketing etc.), and industries (Medical Device, Insurance, Industrial, Telecom, Food/Beverages, CPG, CE etc.). These interviews provide valuable input on what features and functionality are needed within the Business Fit Framework software tool.

Here is some feedback from some current customers on the Business Fit Framework:

It was very thorough and made us think about many different things when entering the US market.

It aligned our cross-functional team on what it would take to actually develop this new category.

A unified look at risks across different departments is an imperative part of this software.

Academics discuss uncertainty and risk in product development, but they don’t offer a solution. The BFF offers a solution to this complex problem.

This is particularly important for Corporate Incubators, and integrating the downstream business.

We did not really consider many of these factors prior to the BFF session, this session really opened our eyes to the risk and uncertainty we would take on with this new product idea.

Read the latest Business Fit Framework white paper and case study

For more information on how you can use the Business Fit Framework in your product development system, contact
Mary Drotar, Partner
Strategy 2 Market, Inc.®
mdrotar@strategy2market.com
312-212-3144