answer the following questions in a 2-3 page Word document:
What are the stage gates in innovation product management?
Complete research online and find a company that implemented a new product within the past five years. Note what the product was and how the organization implemented the product. Note how the product aligned with the company’s strategy.
Stage Gates in Innovation Product Management
Stage gates are a systematic approach to managing the product development process. They involve a series of decision points, or gates, at which teams review progress and make decisions about whether to proceed to the next stage. The stage gate process is designed to help teams identify and kill bad ideas early in the development process, and to focus resources on the most promising ideas.
There are typically five stages in the stage gate process:
At each stage, teams must meet certain criteria in order to proceed to the next gate. This criteria may include having a clear understanding of customer needs, a well-defined product plan, a working prototype, and a strong business case.
Company Example: Slack
Slack is a cloud-based team communication and collaboration platform that was launched in 2014. Slack quickly became popular among businesses of all sizes, and it is now used by over 12 million daily active users.
Slack implemented a stage gate process to manage the development of its new product. The company’s stage gate process had five stages:
Slack’s stage gate process helped the company to quickly and efficiently develop and launch new products that met the needs of its customers. The company’s stage gate process was also aligned with its overall strategy of providing businesses with a cloud-based platform for team communication and collaboration.
How Slack’s Product Aligned with the Company’s Strategy
Slack’s product is aligned with the company’s strategy in a number of ways. First, Slack’s product is focused on solving a real problem for businesses: the need for a better way for teams to communicate and collaborate. Second, Slack’s product is easy to use and affordable, making it accessible to businesses of all sizes. Third, Slack’s product is constantly being updated with new features and functionality, which ensures that it remains competitive in the market.
Conclusion
Stage gates are a valuable tool for managing the product development process. By following a stage gate process, teams can identify and kill bad ideas early in the development process, and focus resources on the most promising ideas. Slack is an example of a company that has successfully implemented a stage gate process to develop and launch new products that meet the needs of its customers.