A market space that is unexplored and uncontested, where companies can create new demand and capture significant market share without much competition. Crucial for identifying opportunities for innovation and growth by creating new markets.
Innovation that creates a new market and value network, eventually disrupting and displacing established market-leading products or services. Crucial for understanding how new entrants can challenge established players and transform industries.
An open-ended and creative approach to problem-solving or planning, often involving brainstorming and envisioning future possibilities without constraints. Useful for fostering innovation and creative thinking in strategic planning and ideation sessions.
A problem-solving approach that involves breaking down complex problems into their most basic, foundational elements. Crucial for developing innovative solutions by understanding and addressing core issues.
The practice of guiding and inspiring teams to develop and deliver successful products, often involving strategic vision, team management, and innovation. Crucial for driving product success and fostering a culture of innovation and excellence.
A strategic approach where multiple potential solutions are tested to identify the most promising one. Crucial for innovation and reducing risk in decision-making.
A product that significantly changes the market or industry by introducing innovative features or a new business model. Important for understanding market dynamics and identifying opportunities for innovation.
The area within a market where unmet needs or problems present potential for new products or services. Essential for identifying new business opportunities.
The systematic approach to managing innovation processes, from idea generation to implementation. Crucial for effectively harnessing creativity and ensuring successful innovation outcomes.
The simultaneous pursuit of differentiation and low cost, creating a leap in value for both the company and its customers, often associated with Blue Ocean Strategy. Important for developing strategies that can open up new markets and create significant competitive advantages.
The study of how new ideas, products, and processes are developed and brought to market. Essential for fostering creativity and ensuring the continuous improvement and relevance of products.
An approach to design that aligns design activities with strategic business goals, ensuring that design contributes to overall organizational success. Essential for integrating design into the strategic planning process and achieving business objectives.
A strategic planning tool that focuses on outcomes and objectives rather than specific features, allowing for flexibility in achieving goals. Important for maintaining strategic focus and adaptability in product development.
The process of managing multiple related projects in a coordinated way to achieve strategic business objectives. Crucial for ensuring alignment and efficiency across multiple projects to achieve broader goals.
The risk that the product will not be financially or strategically sustainable for the business, potentially leading to a lack of support or profitability. Essential for ensuring that the product aligns with business goals and can be maintained and supported long-term.
The study of strategic decision making, incorporating psychological insights into traditional game theory models. Useful for understanding complex user interactions and designing systems that account for strategic behavior.
A planning method that starts with defining a desirable future and then works backwards to identify steps to achieve that future. Important for strategic planning and setting long-term goals in design and development.
A business culture that prioritizes product development and innovation as the key drivers of growth and success, often involving cross-functional collaboration. Crucial for fostering innovation and ensuring that product development is aligned with business objectives.
A professional responsible for defining the strategic direction of a product, ensuring it aligns with market needs and business objectives. Essential for guiding product vision and ensuring long-term success.
A strategic management template for developing new business models or documenting existing ones, detailing elements like value proposition, infrastructure, and customers. Important for understanding and designing business strategies that align with product and user experience goals.
A project or venture that starts from scratch, with no constraints imposed by prior work, enabling innovation and flexibility in development. Essential for recognizing opportunities for innovation and fresh development in business initiatives.
A strategic approach where decisions and direction are set by top-level management and flow down through the organization, often aligned with overarching business goals. Crucial for ensuring strategic alignment and coherence across all levels of an organization.
Portfolio Management is the process of overseeing and coordinating an organization's collection of products to achieve strategic objectives. Crucial for balancing resources, maximizing ROI, and aligning products with business goals.
The use of behavioral science insights to inform and guide strategic decision-making in organizations. Crucial for developing strategies that effectively influence behavior and drive business success.
Observe, Orient, Decide, and Act (OODA) is a decision-making framework often used in strategic planning and rapid response situations. Crucial for agile decision-making and strategic planning in dynamic environments.
An area in a market or industry that is currently underserved or unaddressed, presenting opportunities for innovation and new business ventures. Important for identifying gaps in the market that can be filled with new products, services, or solutions.
A professional responsible for overseeing and optimizing a company's portfolio of products, ensuring they align with strategic goals and market demands. Crucial for managing a diverse range of products and maximizing their market impact.
A management framework that organizes employees into small, cross-functional teams (tribes) to enhance agility, collaboration, and innovation. Important for fostering a collaborative and agile work environment.
The use of technology to perform repetitive tasks or processes in a workflow, liberating skilled experts from tedious activities and empowering them to focus on higher-order problem-solving and creative tasks. Crucial for streamlining operations, reducing human error, and enhancing the overall efficiency and innovation capacity of product design teams.
The process of examining large and varied data sets to uncover hidden patterns, correlations, and insights. Important for making informed business decisions and identifying opportunities for innovation and growth.
The strategic objectives that an organization aims to achieve, guiding its operations and decision-making processes. Important for aligning digital product development with the broader mission and objectives of the organization.
A marketing strategy where two brands collaborate to create a product or service that leverages the strengths of both. Crucial for expanding market reach and enhancing brand value through strategic partnerships.
Volatility, Uncertainty, Complexity, and Ambiguity (VUCA) is an acronym for describing the challenging conditions of the modern world. Important for understanding and navigating dynamic and unpredictable environments.
A strategic planning technique that uses visual maps to align activities with business goals and user needs. Essential for ensuring that development efforts are aligned with strategic objectives.
A role responsible for overseeing multiple product managers and ensuring alignment and collaboration across different product lines within an organization. Crucial for coordinating efforts and driving strategic product development.
Social, Technological, Economic, Environmental, Political, Legal, and Ethical (STEEPLE) is an analysis tool that examines the factors influencing an organization. Crucial for comprehensive strategic planning and risk management in product design.
A visual tool that maps out opportunities and the corresponding solutions, helping teams identify and prioritize where to focus their efforts. Crucial for strategic planning and ensuring alignment between problems and solutions.
A market space that is already crowded with competition, where companies fight for market share, leading to intense rivalry and lower profitability. Important for understanding competitive dynamics and market saturation in strategic planning.
The process of setting short-term objectives and determining the actions needed to achieve them. Critical for aligning daily operations with strategic goals.
A high-level description of the future state of a product, outlining its purpose, target audience, and key differentiators. Essential for providing direction and inspiration for product development efforts.
Newly developing patterns or shifts in technology, behavior, or design that have the potential to influence future practices and strategies. Important for staying ahead of the curve and adapting to changes in the industry.
The process of defining a product's objectives, strategy, and roadmap, ensuring alignment with market needs and business goals. Important for setting a clear direction for product development and ensuring strategic alignment.
The level of sophistication and integration of design practices within an organization's processes and culture. Essential for assessing and improving the effectiveness of design in driving business value and innovation.
The practice of guiding and inspiring teams to create effective, user-centered design solutions that align with business goals. Crucial for fostering a culture of innovation, collaboration, and excellence in design practices within organizations.
The ability to understand and deal with various business situations, making sound decisions to ensure successful outcomes. Important for designers to align their work with business goals and make informed decisions.
A professional responsible for overseeing the planning and execution of a product launch, ensuring alignment with strategic goals and successful market entry. Essential for managing the complexities of launching a new product and coordinating cross-functional teams.
The extent to which individuals or organizations plan for and consider the long-term consequences of their actions. Crucial for designing strategies and products that are sustainable and adaptable over time.
Product Advisory Council (PAC) is a group of customers, industry experts, and stakeholders who provide feedback and guidance on a company's product strategy and development. Essential for aligning products with market needs and driving innovation.
The systematic investigation of competitor activities, products, and strategies to gain insights and inform decision-making. Crucial for staying competitive and improving product and service offerings.
New Product Development (NPD) is the complete process of bringing a new product to market, from idea generation to commercialization. Essential for companies to innovate, stay competitive, and meet evolving customer needs through a structured approach to creating and launching new offerings.
A cross-functional team focused on solving customer problems and achieving business outcomes, with a strong emphasis on discovery, experimentation, and continuous improvement. Crucial for creating valuable and innovative products that meet user needs and drive business success through iterative development and close collaboration with stakeholders.
A unique capability that sets an organization apart from its competitors, providing a competitive advantage. Important for identifying and leveraging core strengths in strategic planning.
The process of using statistical analysis and modeling to explore and interpret business data to make informed decisions. Essential for improving business performance, identifying opportunities for growth, and driving strategic planning.
A moment of significant change in a process or system, where the direction of growth, performance, or trend shifts markedly. Important for recognizing critical transitions in design or business strategies, enabling timely adjustments and informed decision-making.
The comprehensive process of planning, executing, and overseeing all activities related to the introduction of a new product to the market. Crucial for coordinating efforts to ensure a successful product launch and achieving market impact.
The process of anticipating future developments to ensure that a product or system remains relevant and functional over time. Essential for designing durable and adaptable products.
The process of fundamentally changing how a service is delivered to improve efficiency, user satisfaction, and overall effectiveness. Essential for enhancing service delivery and aligning it with modern user needs and expectations.
Areas of unmet demand in a market where opportunities for growth and development exist. Essential for identifying new business opportunities.
The process of identifying user needs and market opportunities to inform the development of new products or features. Crucial for ensuring that products are user-centered and meet real market demands.
A tool used to prioritize tasks based on their impact and effort, helping to focus on high-value activities. Important for prioritizing tasks effectively to maximize impact with minimal effort.