Lewang has decided to launch an innovative product that would help the blind access their emails through a voice application. He has finished designing the product and accessing the costs and its market applicability. Keeping in mind Hamel's "wheel of innovation," what is the next step that Lewang should ideally undertake?
A) He should check for its sustainability.
B) He should initiate the process of scaling.
C) He should implement reverse innovation.
D) He should increase the price of the product.
E) He should access the rate of change in environment.

Question

Quizplus · Accepted Answer

According to Hamel's "wheel of innovation," the next step after designing the product and assessing its market applicability is to initiate the scaling process. This would involve developing a business model, finding investors, and creating a detailed plan to bring the product to market. Once the product is successfully launched and gains traction in the market, Lewang can evaluate its sustainability and assess any necessary changes to the product or business model. Increasing the price of the product would not be necessary at this stage, and implementing reverse innovation or accessing the rate of change in the environment are not directly related to the scaling process.

Lewang Has Decided to Launch an Innovative Product That Would