7: "Seven Myths of Business Experimentation" from Experimentation Works: The Surprising Power of Business Experiments

Thomke, Stefan

  • チャプター
HBI

The final chapter addresses common arguments against becoming an experimental business, evaluates their validity, and provides responses to them. Some critics argue that experimentation will eliminate the need for intuition and good judgment, when in fact they can work in tandem with experimentation, particularly in developing hypotheses. Others claim that online experiments will only lead to small changes, not enough to be impactful, but these incremental changes can compound into great success. Other myths dispelled regarding what kind of company can benefit from experimentation, some believe their company is not large enough or busy enough to benefit from experimentation, both worries are relieved by the author who gives suggestions on how to run small scale, easy to organize experiments. Concerns from executives that experiments don't provide a large enough return on investment, or are a waste of time altogether, are also addressed by the author, who warns that businesses that if they don't adopt experimentation, they will be left behind as other companies do. Even small returns on investment through incremental change can be what sets an organization apart from an industry competitor, and any extra information that can be gleaned about consumer behavior is valuable. The chapter concludes by addressing those who may feel experimentation may be unethical for consumers. The author underscores the importance of maintaining stakeholder trust and ethical standards in any experiment, but stresses that stifling innovation by avoiding experimentation altogether would be too great a cost.

出版日
2020/02
領域
組織行動・人的資源管理
ボリューム
55ページ
コンテンツID
CCJB-HBS-1318BC
オリジナルID
1318BC
ケースの種類
Press Chapter
言語
英語
カラー
製本の場合、モノクロ印刷での納品となります。

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