Journal of Healthcare Management - July/August 2014 - (Page 269)

s u s taI nable c oMpet I tI ve a Dvantage goal of MVP development is to produce the smallest bundle of features that creates value for the customer (Junk, 2000). As outlined in Table 1, MVPs do not include all the features that the organization believes its customers want. Rather, they are the smallest bundle of features that represent a value hypothesis that can be tested in a build- measure-learn cycle or similar for a ccountable c are o rgan IzatIons customer-centered development process (Reis, 2011). Because MVPs target the organization's customers, the validation process results in unique and valuable tacit knowledge of customer value configurations (Lubit, 2001). MVPs have the potential to significantly increase the speed at which the organization creates new business products and the net customer value of TA B L E 1 Comparison of Product Development Methods Traditional Product Development Minimally Viable Product Development Develop a product or service that maximizes market share and minimizes production costs (scalable) Develop a feature that maximizes value to customer and organizational learning and minimizes waste in development Development goal Produce market-ready product Test hypotheses about value to customer and business model Structure and timing of Linear: New products developed at end of current product life cycle Iterative: Features developed throughout product life cycle to add customer value Engineers, marketers, product managers Customers, analysts, accountants Occurs at end of product development cycle; customers engage with finished products and provide input on product marketing (price, branding, etc.) Occurs throughout development cycle; customers engage with MVPs (feature sets) and provide input on all aspects of product Product features Complete, final feature set to compete with similar products and services Smallest feature set required to run build-measure-learn cycle Production scalability Designed for scalability into mass Not necessarily scalable into production mass production Product development philosophy development activities Key development partners Customer value engagement Sources. Reis (2011); Junk (2000); Campos, Norman, & Jadad (2011). 269

Table of Contents for the Digital Edition of Journal of Healthcare Management - July/August 2014

Journal of Healthcare Management - July/August 2014
Contents
Interview With Charles R. Evans, FACHE, President of the International Health Services Group and Senior Advisor at Jackson Healthcare
The Most Effective Leadership Style for the New Landscape of Healthcare
Exploring Obstacles to Success for Early Careerists in Healthcare Leadership
Decisions Through Data: Analytics in Healthcare
Sustainable Competitive Advantage for Accountable Care Organizations
Hospital Characteristics Associated With Achievement of Meaningful Use
The Effect of Professional Culture on Intrinsic Motivation Among Physicians in an Academic Medical Center
Abstract from the Academy of Management

Journal of Healthcare Management - July/August 2014