To state an extreme example of innovation, one need not look any further than booking.com. It is the world’s largest online accommodations platform but at the same time its landing pages number in to the quadrillions, which is millions of billions. This has been explained in detail in the upcoming book titled as Experimentation Works: The Surprising Power of Business Experiments, written by Stefan Thomke. The likes of Netflix, Amazon and Microsoft have also been named as stellar examples. One of the challenges towards innovation is that whenever something is too novel, there isn’t enough data warehousing done, to support the claims. That is why the companies are not too sure on how to proceed ahead with these ideas. A certain discipline is then needed to crack the code. There exist three major steps in this. The first one is about acquiring the right insights. Next, one needs to develop a certain hypothesis, around which the business intelligence captured, may be measured against. After this the results are collated. To scale up too, there exist five steps, beginning with creating an awareness. Then, the team needs to be addressed so they believe in the project. A commitment has to be pledged form one and all. Diffusion is up next, followed lastly, by a sense of embeddedness.

Source:https://hbswk.hbs.edu/item/creating-the-experimentation-organization

Uploaded Date:27 December 2019