{"title":"Bridging ideas and market success: A framework for managing proof-of-concept projects","authors":"","doi":"10.1016/j.orgdyn.2024.101053","DOIUrl":null,"url":null,"abstract":"<div><p>While the world is full of potential moonshot projects, there is an ever-growing disconnect between new ideas and their successful transformation into commercialized new products. Companies often struggle with inefficient resource allocation<span> and the challenge of quickly assessing an idea’s feasibility. The burgeoning number of proof-of-concept (PoC) projects reflects the need to mitigate the risk of investing resources in potential failures. This study introduces the PoC Framework, a strategic tool that guides managers through the PoC journey, transforming initial ideas into real-world applications. Importantly, it promotes a mindset shift that equally values the proving and disproving of concepts. This approach saves resources by preventing the further development of non-viable ideas. The PoC Framework has been gaining traction among Silicon Valley firms, underscoring its practical relevance and effectiveness in fostering strategic thinking and overcoming hidden challenges within the PoC process.</span></p></div>","PeriodicalId":48061,"journal":{"name":"Organizational Dynamics","volume":null,"pages":null},"PeriodicalIF":3.1000,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Organizational Dynamics","FirstCategoryId":"91","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0090261624000263","RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 0
Abstract
While the world is full of potential moonshot projects, there is an ever-growing disconnect between new ideas and their successful transformation into commercialized new products. Companies often struggle with inefficient resource allocation and the challenge of quickly assessing an idea’s feasibility. The burgeoning number of proof-of-concept (PoC) projects reflects the need to mitigate the risk of investing resources in potential failures. This study introduces the PoC Framework, a strategic tool that guides managers through the PoC journey, transforming initial ideas into real-world applications. Importantly, it promotes a mindset shift that equally values the proving and disproving of concepts. This approach saves resources by preventing the further development of non-viable ideas. The PoC Framework has been gaining traction among Silicon Valley firms, underscoring its practical relevance and effectiveness in fostering strategic thinking and overcoming hidden challenges within the PoC process.
期刊介绍:
Organizational Dynamics domain is primarily organizational behavior and development and secondarily, HRM and strategic management. The objective is to link leading-edge thought and research with management practice. Organizational Dynamics publishes articles that embody both theoretical and practical content, showing how research findings can help deal more effectively with the dynamics of organizational life.