Capturing Value - Lecture 6 Flashcards
What are the good and bad’s regarding open innovation (Oerlemans et al. 2013)
Goods: more (diverse) knowledge, more feedback
Bads: information overflow, coordination costs, higher risks of opportunism.
What is the benefit of the technology management tools?
That it can change the downward slope of the figure about the effectiveness of open innovation, to an upward slope. The more a business applies the better.
Too much openness and innovation is for most companies, not a good thing, with what can you improve this?
Technology management tools
Name three kinds of groups that can be the adopter of your innovation.
1) Individuals
2) Collectives
3) Authoritatives
What are the barriers to adoption?
1) Economic: EV vehicle to expensive
2) Behavioral: I like the sound of petrol engines
3) Organizational: I have invested in oil companies
4) Structural: Lack of charging stations for EV-vehicles
What does adoption-relative advantage mean?
The degree to which a new product is superior to an existing one.
What does adoption-compatibility mean?
When a business portrays certain values to adopt customers.
What does adoption-complexity mean?
It’s when a business have a lot of complex features in order to attract new customers.
What does adoption-trialability mean?
It is when a business lets its customers try the products.
What does adoption-observability mean?
Is when a business want to show their products to other people.
How to capture value?
You can capture value through business models, pricing.
Why is a business model based on tacit knowledge harder to copy?
Because tacit knowledge are experiences and intuitive knowledge.
What is explicit knowledge with explicit knowledge?
Combination
What is explicit knowledge with tacit knowledge?
Internalization
What is tacit knowledge with explicit knowledge?
Externalization
