The Lean Implementation in New Product Development: A Case Study of Indonesias Financial Technology (Fintech) Start-up Firman Ardiansyah, S.M- Arviansyah, S.E., M.Sc., Ph.D.
Universitas Indoensia
Abstract
The growing number of start-up companies, especially financial technology (fintech), has a significant impact on Indonesias national gross domestic product (GDP), contributing to economic growth. However, tech start-up companies fail more than succeed. Study shows that start-ups that apply lean principles result in fewer failures than start-ups that use traditional methods. This study endeavors to elaborate on implementing general practices and challenges of the lean framework in new product development from start-ups based on their funding stages using a systematic literature review and qualitative analysis. We analyzed twenty-eight publications based on their ratings and relevance and conducted in-depth interviews with twelve informants from six start-ups. This research analysis elaborates on three lean start-up implementation frameworks starting from vision, steer, and accelerate, each of which has four different variables. This study reveals fundamental differences between each start-up company in implementing the lean framework when developing new products and the problems they face. It is hoped that this research on lean start-ups can be can be used as a guide for implementing lean startups in new product development by studying information obtained from various startups based on their stage.
Keywords: Lean, Startup, Lean Framework, New Product Development
