Reference no: EM13114421
1. Please comment on this excerpt in two or three paragraphs at the maximum.
A new product learning cycle indicates companies learning from product failure or mistake they made. In business, especially technology, it is important to learn from failure and continue improving. It is important to analyze what went wrong so that you don't make the same mistakes again. I think one of the best methods to build from failure is to create an environment and culture that embraces it. An organization, group, team, etc. should completely buy into the "learn from failure" idea. By presenting a right culture that support learning from mistake, employees won't certainly feel singled out, they will feel supported and subsequently grow from the learning experience.
What we can learn during the product learning process are:
- During the product development process, we learn about concept development, strategy & testing.
- During customer centric product development, team can learn to identify customers' needs and how to select the best solution.
- During global product development, team can learn global strategies, markets & culture.
- During product portfolio / project planning, team can learn more about allocation of resources, project mix & priority.
2. Also, any graphics (visual diagrams or images) to go with this will be highly appreciated. Do provide appropriate references to the graphics.
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