I did exactly this recently at work. I had a feature set I've been wanting to add to the customer service portal but very little time approved so we built a part of it using very little dev time. The feature was very popular and well used. Everyone wanted it expanded to do more (basically a task system which saves people from ad hoc management of various tasks). Before too long, the full version was approved and was built in very short order because of lessons learned with the mvp.
Other companies take ideas, consider them long and hard - and usually follow other orgs doing something similar who have already proven something works. They do a lot of planning and tend to put much more funding in up-front.
Both approaches suit different businesses. The former being startups and SME's, the latter where market share is already won and now they just acquire other businesses that develop the former way.
If we're considering what people develop at home however.. 99.9% of the stuff I write is never publicly visible, and it's terrible because I'm not a great developer. But I'm not a regular open-source contributor. I issue the occasional patch for shit that's broken for me.