Strategic Innovation_1
Strategic Innovation_1
Strategic Innovation_1
Set of flashcards Details
| Flashcards | 16 |
|---|---|
| Language | English |
| Category | Micro-Economics |
| Level | University |
| Created / Updated | 20.07.2017 / 21.07.2017 |
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Categories of Innovation
What? = Type (SPPS)
Where? = Regional, national, global
How? = 8 Dimensions
With whom? = Company, network, alliance, partnership
Vision, Mission, Strategy, Brand
Vision: long term view, plan (BOLT: "Stay leader for x years")
Mission: Path to reach objectives, How to get there (BOLT: Extensive training, not every race)
Strategy: More detailed, immediate targets
Brand: BOLT: posing, "the new fast", relaxed, celebrating fast
8 Dimensions of Innovation
Forward Incr. (20GB Stick)
Adv. Forward Incr. (100GB Stick)
Replication (perceived newness, new location)
Redefinition (music phone)
Redirection (baby phone, elderly phone)
Reinitiation (Reebok pump)
Reconstruction/Redirection (Nano car)
Integration (DVD+TV)
Requirements for a strong brand
Simple, strong, clear cohesive
> Differentiating message, emotions, self identity, awareness
(Activities of organization must be aligned with the brand)
3 Lifecycles
Dominant Design
Hype cycle
3 Lifecycles: Product, Technology, Industry
Dominant Design = important, when different technologies fight for same market (EV, hybrid, hydrogen)
Hype cycle = How long does technology take to be established in industry? (Not lifecycle)
Market segmentation (buyer, product)
Split in characteristics of buyer and product
Buyer:
industrial, household, distr. channels, geographical location
Product:
size, prize, features, technology, sourcing, performance, services
Innovation Down
Tactic to compete with local innovation leaders in China
Peak innvoators innovating down, e.g. with second brand or low cost competence
Peak innovators (25% of chinese market), local innovators (75% of chinese market)
Purpose of a strategy
decision making support, coordination and communication process, goal definition (multidimensional process)
Technology lifecycle
S-Shaped curve
Difference between technology development and disruption
Porter's generic strategies
Source of comp. advantage over competitive scope (cost leadership, differentiation, focus)
Organizational networks (5 types), before... after...
Local adaption
Global - International - Multinational - Integrated Network - New: Metanational
The more you go along SPPS, the more local adaption you need
Before: network of production, sales, service subsidiares - Now: value creation by searching and mobilizing untapped pockets of knowledge and intelligence
MetaNC: pockets of knowledge, global hot spots
Subsidiary development over time (value add)
MKT, Sales (Sales sub)
Mfg, Dist, MKT, Sales (local sales and manufacturing)
Mfg, Dist, MKT, Sales (regional hub)
R&D, Mfg, Dist, MKT, Sales (world product mandate, CoC)
Value add to the company in host country: from low to high
Strategy Definition (2)
a) Strategy is about two things: 1) Deciding where you want your business to go, 2) figuring out how to get there.
b) A strategy is a plan which unites the most important goals, activities and associated resources and guidelines to a coherent entity to gain a sustainable competitive advantage
Strategy Development
a) PESTLE
b) P5F + technology, industry dynamics
c) SWOT
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d) BCG Matrix
e) ANSOFF Matrix
Competencies are ...
RESOURCES (natural, production, human, financial) plus CAPABILITIES (network, knowledge, intelligence, alliances, access)
Competitive advantage vs. sustainable competitive advantage
Comp: … when implementing a value creating strategy not simultaneously implemented by any current or potential competitor
Sust. comp: … when implementing a value creating strategy not simultaneously implemented by any current or potential competitor and when these firms are unable to duplicate the benefits of this strategy (valuable, rare, imperfectly imitable, non-substitutable)
