Innovation and New Product Planning

Note 2

Agile (and Lean) Methods in Product Development

Agile and lean start-up methodologies reflect contemporary philosophies regarding how firms approach product development activities. These modern approaches to innovation find their roots in the software industry, where agile strategies, in particular, were initially conceived. Due to their common background and shared principles, agile and lean methods are often mentioned side by side. Although not synonymous with one another because each approach has a distinct focus, they can be combined as part of an overall product development strategy to achieve positive outcomes. A description of agile and lean methods is presented next.

Agile Product Development

There are two types of product ...