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innovation (innovators and imitators (first- mover (First-mover advantage…

- - - - Collaboratories
        
        IBM has established 10 worldwide joint development ventures with other companies and universities.
      - Crowdsourcing
        
        an organisation broadcasts a specific problem to a crowd of individuals or teams often in tournaments with prizes awarded to the best solution.
    - - ‘One-shot’ or continuous innovation
      - Complex and tight-linked innovation
      - Competitive rivalry
    - - the traditional approach to innovation, relying on the organisation’s own internal resources – its own laboratories and marketing departments
- - - - Degree of improvement – more improvement encourages change and faster diffusion.
      - Compatibility – the more compatible products there are, the faster is the diffusion
      - Complexity – over complex product or marketing
        slows down diffusion
      - Experimentation – ability to test products before purchase (e.g. free trials) encourages diffusion.
      - Relationship management – ease of getting information and support increases diffusion.
  - - - Network effects – diffusion increases as more people adopting the innovation makes it more desirable (e.g. Facebook).
- - - - Corporate venturing – small, innovative businesses with relative autonomy.
      - ‘Intrapreneurship’ – the ability of individuals to perform entrepreneurial activities within a large organisation.
      - Develop a portfolio of real options – (limited investments that keep opportunities open for the future).
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