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Growth through Innovation (Question List (The reason for the company to…
Growth through Innovation
Two key factors to determine the strategy
Innovative Capability
Creating a climate to generate and pursue novel ideas
Designing an effective development process
Assimilating knowledge generated outside the boundaries of the firm
Ability to maintain margins
Weekly Vocabulary
REVIEW :recycle:
ROI**
Rate of investment**
MES**
Minimum Efficient Scale**
Least amount of production a company can achieve while still taking full advantage of economies of scale in terms of supplies and costs.
mandated 授權
give (someone) authority to act in a certain way.
TMT
Top Management Team
Innovation Strategy
Innovator strategy (First-mover)
Capture a valuable market position, then use superior capabilities or industry structure to fend off rivals.
Continually innovate to capture temporary economic rents before imitators dilute profits
Follower strategy (Second-mover)
Avoid the costs and risks of innovation and imitate first movers
Leverage complementary capabilities to out compete rivals
Keys to innovation
Provide motivation for innovation
Build absorptive capacity
Integrate diverse knowledge
Four Types of organizing for innovation
Basic Question
WHY
:question:
Drives much of economic growth
Schumpeterian Rent
Dynamic capability view
Innovation Matters
Value
_ Price_Cost
Opportunity
Given the ever-unfolding process of creative destruction
"
no strategic position is sustainable"
WHO
:question:
Demand Pull VS Technology Push
Users VS Producers
Entrepreneur VS Large incumbents
Explorers VS Exploiters
Breadth VS Depth of expertise
WHAT
:question:
the development of new ways to create value
Question List
The reason for the company to pursue innovation strategy is because
No strategic position is sustainable in the long run
Potential advantage of the innovator (first-mover) strategy
Higher profits, especially before market dilution
best describes the actual development path of most companies
A more chaotic process, influenced by many internal and external factors
Most startups follow a chaotic organization because of the lack of hierarchies or established processes. As they mature, oftentimes they transition to a sequential organization.
The reason to keep the recipe as a trade secret rather than a patent.
Patents are difficult to enforce and have a limited lifetime.