How does rapid experimentation contribute to the development of n

Rapid experimentation plays a crucial role in the development of new products, services, and business models. It allows companies to test a variety of ideas quickly and efficiently, enabling them to identify the most promising ones and discard those that are not viable. This approach reduces the risk of investing heavily in a single idea that may not work out. It also fosters a culture of innovation and creativity, as employees are encouraged to come up with and test new ideas. Companies like Intuit and Kimberly-Clark use rapid experimentation to educate their teams about developing new strategies and busting old mental models.

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Intuit hosts multi-day "lean start-ins" that bring "intrapreneurs" together from different departments of the company to educate them about applying rapid experimentation to developing new products,services and business models. Kimberly-Clark has one-day "expert acceleration sessions," in which outside "thought leaders" share their wisdom with business teams to bust mental models and build new strategies. Whirlpool uses a network of innovation mentors, loaded with innovation tools and guidance to support business teams focused on challenging market "orthodoxies."

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Innovation Management

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