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E & I > Anans notes p 2 > Flashcards

Anans notes p 2 Flashcards

1
Q

Key drivers of innovation

A
  • Technology
  • Social/political/ natural environment
  • Consumer behaviour
  • The unexpected
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2
Q

A startup is a

A

temporary org that SEARCHES for sustainable/profitable business model

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3
Q

incubant is

A

an established org that EXECUTES on known business models adessing known needs

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4
Q

Innovation thesis is a

A

statement that outlines an orgs/individuals strategic focus, goals and approach to driving innovation

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5
Q

three part fo the innivation thesis

A
  1. where industry/area is going (TREND)
  2. Types of ideas they will invest in
  3. what the company will not be investing in
    WHY?
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6
Q

Innovation portfolio parts (market/prodcut)

A
  • 70% core
  • 20% adjacent
  • 10% transformational
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7
Q

what is the innovation portfolio

A

Framework to help make good investment decision for creating innovation → Putting Innovation strategy into practice

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8
Q

Innovation ambition matrix (value/time)

A
  • Core business- provides cashflow
  • Emergin business- sustainable profit in near future
  • New business- may result in profit
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9
Q

Design thinking is

A

is a method for crafting solutions while using creative problem-solving techniques. It is human centered design

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10
Q

Problem space (understand)

A

Discover
Define

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11
Q

Between problem and solution space

A

framing challenges

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12
Q

Solution space (design solution)

A

ideate
Prototype&test

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13
Q

Design thinking steps

A
  1. discover
  2. observe
  3. define
  4. ideate
  5. prototype and test
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14
Q

IDEO method

A

1.INSPERATION- understand observe define
2.IDEATION- brainstorm, test, learn
3.IMPLEMENTATION- test, learn, execute on vision

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15
Q

BMC definition

A

9 blocks mapping how startup monazites idea & builds business

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16
Q

Pros and cons of BMC

A

Pro:
- easy to understand
- work for all business
- widespread use

Cons
- static vision
- no business evolution
- bad for typical tech startup

17
Q

Lean canvas pros and cons

A

Pro:
- easy to understand
- focus process tech startup
- dynamic growth

Cons:
- less well understood
- switching costs

18
Q

The canvas allows us to:

A
  1. Define and comunicate the business model
  2. test & validate hypothesis
  3. Optimize resource allocation
19
Q

CLTV

A

Customer life-time value
(rev streams- direct variable cost) * Nr times customer will pay

20
Q

CAC

A

customer acquisition cost
got-to-market-expense/nr customers acquired
(GTM budget for 6 month + how many customer needed)

21
Q

optimal CLTV/CAC ratio?

A

CLTV/CAC = 3 is optimal

22
Q

Pricing strategies (not same as revenue model)

A
  • cost based- cost+ margin
  • value based- what is consumer willing to pay for the value?
  • Competitive pricing
  • volume pricing- volume discount
  • bundle pricing- cheaper together than separate
  • decoy pricing- offer more expensive so the other looks cheaper (medium popcorn)
  • shaver pricing- gillete
  • feature pricing- charging for extra features
23
Q

Red ocean strategy

A
  • Compete in existing market
  • Beat competition
  • exploit existing demand
  • Make value/cost trade off
  • Tend to focus on low cost
24
Q

Blue ocean strategy

A
  • Create uncontested market space
  • Make competition irrelevant
  • Create & capture new market
  • Break value/cost tradeoff
  • Tend to focus on differentiation/value
25
Q

Creativity is

A

Channeling your imagination into something concrete.

26
Q

Innvention is

A

The creation of a new idea, concept, or technology.

27
Q

Innovation is a

A

process of turning a new concept into widespread use or commercial success.

28
Q

A startup is

A

a newly formed business with particular momentum behind it **based on perceived demand **for its product or service (first stage of operation)

29
Q

Traditional way of thinking

A
  • Opposition
  • Defend my idea
  • I know better
  • i only accept sucess
  • frustration with failure
30
Q

Proposed way of thinking

A
  • Complementarities
  • Listen/understand
  • Brainstorm/choose better
  • I only accept on engagement
  • Failure is an opportunity
31
Q

What to think off when making a team

A
  • social capital
  • human know how
  • financial capital
32
Q

Main conflicts in teams

A

Role- titel
Relationship- trust
Rewards- equity

33
Q

Value proposition

A
  • product
  • focus= features
  • management defines
  • short term
34
Q

Brand promise

A
  • customer
  • Focus= benefit/feeling
  • customer creates
  • long term

E & I (12 decks)

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