How to implement experiments into your business innovation

Innovation is a key part of growing businesses. Great leaders are constantly seeking opportunities to improve products and services to better meet members’/customers’ needs and encouraging employees to have an innovative mindset.

To do this successfully, leaders must be strategic with their decisions. Harvard Business School’s Stefan Thomke released a book earlier this year on using experiments to bolster business innovation and recently did an interview with innovation guru Braden Kelley in Innovation Management to help leaders put experimentation into practice.

Here are some of the key insights from his Q&A:

  • How to ensure successful experiment design: Similar to scientific experiments, Thomke details seven questions to ensure the experiment has a testable hypothesis, determine what variables could impact outcomes and what they mean, get stakeholders’ buy-in to the process and the results, and use the results to really drive decisions.

 

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