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Developing products on Internet time.

M Iansiti1, A MacCormack

  • 1Harvard Business School, Boston, MA, USA.

Harvard Business Review
|August 5, 1997
PubMed
Summary
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Flexible product development adapts to rapid market changes, especially online. This approach allows continuous design adjustments, unlike traditional methods, ensuring products meet evolving customer needs and technological advancements.

Area of Science:

  • Business and Management
  • Technology and Innovation

Background:

  • The World Wide Web presents a dynamic and challenging environment for product development.
  • Rapid shifts in market needs and technologies occur even during the development lifecycle.

Purpose of the Study:

  • To introduce and explain the concept of flexible product development.
  • To highlight its necessity in rapidly evolving markets like the Internet.

Main Methods:

  • Analysis of traditional product development processes.
  • Identification of the need for adaptive strategies in turbulent market conditions.
  • Description of flexible product development as an alternative approach.

Main Results:

  • Flexible product development allows for continuous design modification post-implementation.

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  • This approach enables the integration of evolving customer requirements and technologies.
  • It is particularly effective in volatile environments but applicable across industries.

    • Conclusions:

    • Traditional product development is insufficient for rapidly changing markets.
    • Flexible product development is crucial for businesses needing to embrace change and maintain responsiveness.
    • This methodology is essential for Internet companies and other industries facing high volatility.