PRODUCT DEVELOPMENT METHODS WITHIN THE ICT INDUSTRY OF LATVIA
PRODUCT DEVELOPMENT METHODS WITHIN THE ICT INDUSTRY OF LATVIA

Summary/Abstract: The purpose of this research is to examine information technology and communications (ICT) product development methods and management principles within the ICT sector of Latvia. This paper introduces definitions of innovation and startup, identifies the main product development methods used in order to develop innovative products with high added value, and examines other methods used by the established enterprises to develop new products. Literature review is supported by findings from semi-structured interviews with 10 international ICT industry experts. Research results suggest that the most common ICT product development methods are related to Lean Startup frameworks by Blank (2010, 2018), Ries (2008), and Value Proposition Canvas by Osterwalder (2010). The specifics of ICT companies focused on software development are related to use of Waterfall, Agile, Scrum and Kanban methodologies. Established enterprises are likely to use such methods as internal incubators, internal and external hackathons, and even setting up of external venture fund in order to scout relevant innovations and technologies in early development stages to be commercialized and added to their business portfolios.

• Details
• Contents