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Lean innovation is being embraced by everyone — from the smallest start-ups to the largest global organizations. But in most cases, it’s still falling well short of its full potential because it either lacks or fails to tightly integrate with the mechanisms needed to systematically capture lessons learned and share them outside the team. And that’s where the money is in innovation.
Lean innovation embraces a philosophy of not letting perfection get in the way of progress. It leverages the Pareto principle that 20% of a product’s features (what’s distilled down into the minimal viable product) will most likely deliver 80% of the benefits sought by customers.
As an approach, lean innovation lends itself especially well to corporate cultures, often engineering ones and others strongly focused on process-improvement programs such as Six Sigma. Its straightforward, step-by-step methodology makes it relatively easy to explain and to implement:
Lean innovation stands in stark contrast to conventional approaches to product development in which teams expend enormous effort trying to create a perfected, many-featured product over an extended period without sufficient in-market customer feedback. The resulting new products are often too expensive, too complicated, too different from what customers want, and too late to market.
But an exclusively process-driven view of lean innovation obscures the underlying reason for its power. And without a deeper understanding, we limit our ability to fully benefit from its potential.
Let us learn more about Lean Innovation in the ISEC Chennai meet-up and how it has triggered a revolution in the Products being developed today.
|10:00–10.45 AM||Case-Study of how HID adopted Lean Innovation that fueled their growth.||Mr Mouli V, Site Lead, PayPal Development Centre, Chennai|
|10:45– 11:30 AM||TBD||Mr. Ravishankar R by 19th April – Agile Enthusiast and Scrum Practitioner – Navis, Chennai|
Coffee n Networking break
|11:45– 12:30 PM||Panel Discussion on “How do we Enable Lean Innovation in Enterprises today“, concluded with key take-aways for organizations who are looking to adopt this model.||Arun Jayaraman,Ravishankar R, Subrahmaniam SRV, Mahesh Varadharajan, Venkatesh Rajamani|
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Shruti +91 8506011132