Breakthrough Product Development in Mature Company
Situational approach in management and continuous experimentation becomes a style of doing business for creators of breakthrough new products and innovative start-up companies. A company that successfully started with a breakthrough product, and developed into successful structured business, after some time, would start to lose its ability to create breakthrough new products. Internal corporate procedures and business processes, including the process of creating a new product become more formalized. Exploratory type of works at the initial stage, full of uncertainties in the process of new product development, is poorly formalized and requires flexible approach in management. Creative chaos that was on a start-up stage and that feed teams with fresh ideas disappears. Fireplace for creativity fades. Loss of this competitiveness is a serious argument to develop new approaches to arrange process of creating new products in a mature stage of business development. In the article based on experience in new product development we explore this actual problem and propose a novel approach for the passage of the high uncertainty stage, called “the fuzzy front end of innovation”, to create innovative products in matured businesses.