Wednesday, October 8, 2014

EXTERNAL ENVIRONMENT | 5 steps of the wheel of innovation

Describe the five steps of the wheel of innovation.

1 comment:

  1. Answer:

    Gary Hamel describes the five steps in the wheel of innovation.

    Step 1 is imagining—thinking about new possibilities.

    Step 2 is designing—building initial models, prototypes, or samples.

    Step 3 is experimenting—examining practicality and financial value through experiments and feasibility studies.

    Step 4 is assessing— identifying strengths and weaknesses, potential costs and benefits, and potential markets or applications.

    Step 5 is scaling—implementing what has been learned and commercializing new products or services.

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