What is the focus of experiments in the innovation process?
— Experiments in the innovation process focus on learning and validating assumptions, with the emphasis on the learning process rather than success or failure.
Why is prototyping crucial for success in business?
— Prototyping is crucial for success in business as it allows for the development of a prototype based on ideas and experiments, providing valuable lessons for working in the real world environment.
Why is having a backup plan important in the process of innovation?
— Having a backup plan is important in the process of innovation to avoid disasters and mitigate the risks of plan failure.
How does Patanjali demonstrate the use of backup plans and rapid prototyping?
— Patanjali demonstrates the use of backup plans and rapid prototyping by adapting their activities based on political and regulatory situations, diversifying their business from yoga to various sectors.
What is the role of incubation structures in the innovation process?
— Incubation structures provide a protected environment for idea development and can exist within educational institutes, companies, or as independent entities.
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