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The Future of Product Management

The first part of Lauren Maffeo’s blog post will certainly make you excited to be a Product Manager. But later on, Lauren reminds us of innovation processes that are becoming more and more commonplace in modern technology companies. These include Goal-First Planning, Crowdsourced Ideas, and Data-Driven Feature Prioritization.

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The Three Innovation Drivers

When searching for processes that facilitate innovation, it may be useful to first understand where exactly innovation is taking place. Roman Pichler lists three — user experience, business model, and technology. Further to this, he associates challenges with each — desirability, viability, and feasibility respectively. Armed with this knowledge, you will see which areas have uncertainties that can be questioned with experiments. “This enables you to ask the right questions, formulate appropriate hypotheses, and carry out helpful, focused experiments.”

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Product Innovation Lessons from 2016’s Best-Selling Toys

It’s interesting to look at four facets of innovation that you’re likely familiar with in respect to the toy industry. These are, as described by Danny Iny — people seek relationships, build on something that is already working, tailor a product to a customer base that’s already using it, and give customers what they want.

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3 Successful Open Innovation Cases: GE, Samsung and LEGO

GE realized that “openness leads to inventiveness and usefulness“. Stefan Lindegaard goes on to include GE’s innovation manifesto which includes collaborating with transparency and compensating those who are innovating inside the company appropriately. He also gives Samsung and LEGO as other examples. LEGO shared insights into how they created a task force to build an open innovation roadmap.

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The World’s 10 Most Innovative Companies, and How They Do it

In 2011, Booz and Company conducted a review of innovation practices in the world’s biggest companies. They found that it wasn’t the amount spent on innovation that moved the needle. In fact, it was the opposite. These companies instead adopted lean and customer-focused methodologies to ship successful products.

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Why Amazon is the World’s Most Innovative Company of 2017

Where better to look for best innovation practices than Amazon — a company famed for rapid shipping of products and new features. Noah Robischon has written a lengthy but thoroughly illuminating account of how Jeff Bezos and his team approach innovation. He quotes Bezos — “Our job is to invent new options that nobody’s ever thought of before and see if customers like them.”

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