Product Development Process: What Are Value Added Activities

The product development process is one of the most critical processes in your company. Today product lifecycle becomes as much as possible shorter. So, you need to invest enough effort in innovation. With innovation, they will develop new products and services if they want to stay at the top.

Like everything else in your business, you and your team members will take two types of activities in the product development process. The first activities are value-added activities that bring additional value to your company and your customers. The second type of activity is wasting time and money on something that doesn’t increase your business’s value, but you need to take them.

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Can We Learn Something About Product Development?

I like the concept of the minimum viable products that enable entrepreneurs to bring the product on the market and continuously improve and develop according to the customer’s desires. As you can see we talk about products developed for...