Found 5 article(s) for author 'Stefan Thomke'

At Booking.com, Innovation Means Constant Failure

At Booking.com, Innovation Means Constant Failure. Stefan Thomke, September 3, 2019, Audio, “Harvard Business School professor Stefan Thomke discusses how past experience and intuition can be misleading when attempting to launch an innovative new product, service, business model, or process in his case “Booking.com” (co-author: Daniela Beyersdorfer) and his new book, “Experimentation Works.” Instead, Booking.com and other innovative firms embrace a culture where testing, experimentation, and even failure are at the heart of what they do.Link

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An exploratory study of product development in emerging economies: evidence from medical device testing in India

An exploratory study of product development in emerging economies: evidence from medical device testing in India. Stefan Thomke, May 25, 2018, Paper, “Recent research has studied innovation in emerging economies. However, microlevel product development processes in these economies are relatively unexplored, and the mechanisms by which the emerging economy context might affect such processes are still unclear. In this paper, we explore the testing routines fundamental to product development in one emerging economy. Based on an exploratory field study of medical device development projects in India, we observe the frequent, iterative testing of prototypes in clinical settings and investigate the related learning process.Link

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Innovation Needed for Long-term Sustainability

Innovation Needed for Long-term Sustainability. Stefan Thomke, August 20, 2015, Opinion. “Innovation is not something you switch on and hope it will happen next week. It may take years. So you have to do it all the time. And you must do it when the end result is not clear. If you are always looking for assurance, then maybe you are not ready to be CEO. When you look at it closely, it is not that risky. Think about what you are going to leave for your successor. I deal with these issues in a case study on Lego, the famous plastic toy builder company. This is something I divide into four periods — the first, where the founders built one of the greatest brands…” Link

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The Magic of Innovation

The Magic of Innovation. Stefan Thomke, June 2014, Paper. “Why do certain product and service experiences seem to have that undeniable “wow” factor, while others disappoint customers? Perhaps there’s no better place to turn to than the world of magic. Consider that leading magicians are constantly under pressure to come up with new “effects” that wow audiences. They have to innovate frequently and rely on a systematic way of doing so…”  Link

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Unlocking Innovation Through Business Experimentation

Unlocking Innovation Through Business Experimentation. Stefan Thomke, March 2013, Paper. “There is a downside to businesses that focus heavily on standardization, optimization, and driving out variability: Such organizations leave themselves vulnerable to under investing in experimentation and variation, which are the lifeblood of innovation. Good experimentation helps firms better manage myriad sources of uncertainty (such as, does the product work as intended and does it address actual customer needs?) when past experience can be limiting. And it is only through such experimentation, which might include structured cause-and-effect tests…” Link

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