Bok

Question 1

ideas require creativity, which is…

Answer 1

ability to look at problems in a new way
ability to analyze ideas
ability to express ideas
ability to convince

Question 2

technology cluster +-

Answer 2

=regional area with firms with same technology
+complex tacit technology require closeness and frequency
+influences firms willingness to exchange information
+makes more firms start up in same area
+attract working labor
-reduce price power
-competitors gain access to a company proprietary knowledge
-more traffic which drives cost

Question 3

firm creativity is determined by

Answer 3

structure
routine
incentives

Question 4

technology diffusion

Answer 4

slow adoption first, accelerates and then market is eventually satisfied
(innovators, early adopters, early majority, late majority, laggards)

Question 5

first mover +-

Answer 5

\+reputations as leader
\+shape expectations
\+get best resources
-higher costs
-build customer awareness
-competitors can adopt newer and better production processes

Question 6

enter early if:

Answer 6

less customer uncertainty
it is improvement of existing technology
there is enabling technology
complementary goods are available or can be developed
high treat of competition
increasing return to adoption
company has capital enough to learn about market
company had good reputation

Question 7

addition to porters five forces

Answer 7

complements:

• if it is important
• who gets value of complements
• availability

Question 8

resource is a competitive advantage if

Answer 8

rare
valuable
durable
inimitable (tacit, path dependence, socially complex, causally ambiguous)

Question 9

+- with big organization

Answer 9

\+finance
\+large sales volume
\+better complementary activities
\+experience in choosing projects
\+can take more risks
-lose managerial control
-bureacratic
-large fixed assets
-commitments to suppliers and customers
-less careful about R&D spending

Question 10

can involve for innovation

Answer 10

customers
suppliers
crowdsourcing