Since business models and corporate visions
change so rapidly in the 21st century, it's important, no, it's vital to run experiments
to determine what "might" work for your company. Read about what the
Value Framework® Institute calls an experiment and
some content from Mitchell Levy's book E-Volve-or-Die.com stating why
experiments are important.
Are experiments part of your corporate
culture?
- If yes, we can help identify the types of experiments
you should be running in your company and help find resources to staff them if
desired.
- If no, the Value Framework® Institute will be happy to create
an experimentation methodology that can be integrated your into corporate culture
to allow your employees, partners and customers to help you succeed.
We
can help you run "strategic experiments" or instll an experimentation
methodology into your culture. Contact Value Framework® Institute today by
sending e-mail
or calling us at 408-257-3000.
What is an Experiment?
Experiments seek to model, and
thereby predict, the success or failure of new business directions at a smaller
cost to the organization (both financially and in terms of time) than full-scale
implementations. Experiments can have widely different budgets, various criteria
for success, and be run by different departments. They can also focus on evaluating
the viability of different business areas: a new product, a new way of marketing
an existing product, or a new internal process. Because experiments can be set
up and run quickly and inexpensively, they are an important part of an organization's
development in a time when product and organizational life cycles are rapidly
decreasing.
The outcome of an experiment is bi-model and simple. The two
successful outcomes are:
1. Should we move forward with a full-scale
project?
2. Should we drop the idea or try a variant of it in another experiment?
By
definition all experiments are successful if you reach the conclusion; regardless
if the conclusion is #1 or #2 above.
