Less is More: The Recipe For successful Products
In a rapidly evolving and highly competitive environment, how does one adapt to market pressures with consistently better products, processes and organizational environment? How can an enterprise achieve this adaptive state to achieve greater market share and revenue growth?
Studies show that human imaginations, desires, needs and wants to grow at a faster pace than the rate at which systems and technologies can support.
Business agility is not easy to define as it encompasses several aspects within an organization such as organization design, adaptive leadership, governance and strategy as well as Agile practices outside IT. The need of the hour is to sense and respond to customer and market needs with disruptive products and services in an immediate friction less manner.
My session will present insights into some of the emergent practices, that can help succeed organizations in maximizing return on investments, by minimizing non-value-added features and activities in the Product Development. I will complement with a case-study on the suggested approach to Agile Product Management.
Outline/Structure of the Presentation
1) The Context: What Motivates Agile Adoption So far? – Why Change?
Faster Time to Market, Better Quality, or More value delivery?
2) Have we achieved this?
3) Where Are We Today: Reflection on New Product Failure Rates by Industry with statistics
Source: Myths About New Product Failure Rates by George Castellion and Stephen K. Markham
4) Whats the Way Forward to successful Products? Inspiration from the Lean Start-Up approach to product development
5) Case-Study of "Expanding to a New Market by Global Financial Major" addressing focus areas around the LOPDE Change Management approach:
3) Product / Business Strategy
1) The Power of Simplicity - Maximizing value by minimizing the amount of non-value adding activities is essential
2) Success to complex product development is evidence based - which relies on the Power of Feedback - There is no real feedback unless the customer can see it and use the product. This is where Scrum naturally fits into complex product development
3) Gain Competitive Advantage by being aware of the Cost of Delay - Longer lead times are deterrent to this. Hence, do not spend time merely in developing features, but validate to avoid surprises, sometimes by gaining initial customers, the product evolves over time. Examples of Flipkart, Uber etc. .....
All, Relevant to Product Owners
Prerequisites for Attendees