Challenge and Selection

The tool that I used is the tool of Learning Launch, as it describes how the product will be  perceived in the market and what are the demands which are actually satisfied with the same  service that is being visualized within the organization. learning experiment conducted quickly  and inexpensively to gather market-driven data to determine whether a growth idea has  enough merit to warrant detailed investigation with the commitment of further time, people  and resources. the key to success is an entrepreneurial mindset of action and not analysis;  speed and not long study times; engaging potential customers in the creation, design and  testing of new ideas as soon as possible; and learning as you go, iterating constantly for  improvement. The product being a success depends mostly on how customer is taking the  product and the demand of it. It is the most important of the tools as it is the basic criteria for  the allocation of resources.

Application

A learning launch is a business-world application of the scientific method; it is a way of thinking  that relies on generating and testing hypotheses. It starts with hypothesis-generating by asking  a what-if question, which allows us to identify a new possibility to act on. This hypothesis- driven approach is based on the idea of learning, rather than knowing. As a result, it is  particularly useful under conditions of uncertainty in which we don’t know as much as we’d like  to.

Start the process by looking at what we already know, based on observing customers, analyzing  the industry value chain, and assessing internal capabilities and resources.

We now generate a hypothesis in the form of a new business idea with a particular focus on  specifying the value proposition to a particular customer, the execution strategy, and likely  competitor reaction.

Having identified the new hypothetical business idea, turn to dealing with the uncertainty  piece. Because our new business is an idea about the future and can’t be tested directly, we’ll  need to articulate the critical underlying assumptions that it rests on relative to customers,  capabilities and competitors

Getting a prototype in the market with prospective customers as quickly as possible.

Based on the outcome of our test, we will either continue to pursue the new initiative, refining  and improving it as you go, or kill it if results suggest that, contrary to your initial projections, it  is unlikely to succeed.

After we have completed enough research through the learning launch to assure yourself of the  sound fundamentals of the new idea, we will move to staging a roll-out of the idea.

Insight

The Learning Launch is mainly about learning about the product and the relationship it can  potentially build with the customer base. The insights that mainly we got out of this experiment  is that we have to include more and more customer base getting their opinions and then driving  our strategy otherwise the allocation of resources be it materials or the Human resource can  result into nothing if it doesn't bode well with the consumers. The learning curve if applied at  the right time and in an effective way can actually make the product to be improvising at the  different feedbacks and surveys.

Approach

The main thing to be considered or to be done differently is to make more and more people  involved and getting enough time for the learning curve to make the best out of it and not just  relying on the Research and development for the success rather getting on to the ground level  and exploring things from their perspective.


Challenge and Selection The tool that I used is the tool of Learning Launch , as it describes how the product will be perceived in the market and what are the demands which are actually satisfied with the same service that is being visualized within the organization . learning experiment conducted quickly and inexpensively to gather market - driven data to determine whether a growth idea has enough merit to warrant detailed investigation with the commitment of further time , people and resources . the key to success is an entrepreneurial mindset of action and not analysis ; speed and not long study times ; engaging potential customers in the creation , design and testing of new ideas as soon as possible ; and learning as you go , iterating constantly for improvement . The product being a success depends mostly on how customer is taking the product and the demand of it . It is the most important of the tools as it is the basic criteria for the allocation of resources . Application A learning launch is a business - world application of the scientific method ; it is a way of thinking that relies on generating and testing hypotheses . It starts with hypothesis - generating by asking a what - if question , which allows us to identify a new possibility to act on . This hypothesis- driven approach is based on the idea of learning , rather than knowing . As a result , it is particularly useful under conditions of uncertainty in which we do n’t know as much as we ’d like to . Start the process by looking at what we already know , based on observing customers , analyzing the industry value chain , and assessing internal capabilities and resources . We now generate a hypothesis in the form of a new business idea with a particular focus on specifying the value proposition to a particular customer , the execution strategy , and likely competitor reaction . Having identified the new hypothetical business idea , turn to dealing with the uncertainty piece . Because our new business is an idea about the future and ca n’t be tested directly , we ’ll need to articulate the critical underlying assumptions that it rests on relative to customers , capabilities and competitors Getting a prototype in the market with prospective customers as quickly as possible . Based on the outcome of our test , we will either continue to pursue the new initiative , refining and improving it as you go , or kill it if results suggest that , contrary to your initial projections , it is unlikely to succeed . After we have completed enough research through the learning launch to assure yourself of the sound fundamentals of the new idea , we will move to staging a roll - out of the idea . Insight The Learning Launch is mainly about learning about the product and the relationship it can potentially build with the customer base . The insights that mainly we got out of this experiment is that we have to include more and more customer base getting their opinions and then driving our strategy otherwise the allocation of resources be it materials or the Human resource can result into nothing if it does n't bode well with the consumers . The learning curve if applied at the right time and in an effective way can actually make the product to be improvising at the different feedbacks and surveys . Approach The main thing to be considered or to be done differently is to make more and more people involved and getting enough time for the learning curve to make the best out of it and not just relying on the Research and development for the success rather getting on to the ground level and exploring things from their perspective .