Innovation for Impact Flashcards
What does the triple bottom line mean?
Companies performance should be evaluated based on 3 dimensions
- social
- environmental
- economic
What is the user innovation paradigm?
Users develop innovation in an effort to benefit themselves
What is the producer innovation paradigm?
Producers develop innovation in an effort to sell
What does user innovation look like?
- User develop innovation for themselves
- Users collaborate and improve with others
- Innovation is shared peer to peer rather than commercialised
What does producer innovation look like?
- Market research
- R&D
- Production
- Market diffusion (marketed and sold)
What is a value proposition
The added value on the cost of acquiring
What are the stages of the S-Curve?
- Introduction (first product still requires improvement)
- Acceleration (performance increases and is sold often)
- Maturity (Performance limit reached
How does technology play into the S-Curve?
New technologies can be introduced in the maturity phase to create new acceleration
What is littles law?
I = R * T
WIP Inventory = Throughput rate * Flow time
What is littles law in simple terms?
Number of items being processed =
rate at which units are completed * average time spent in the system
What are benefits of just in time
- reduced inventory costs
- ## reduced overproduction
What two Innovation classifications are there?
Radical (significant change)
Incremental (small improvement
What’s push and pull?
Push (new tech developed)
Pull (developed to fill market need)
What are the three generation of innovation
- Push (new tech)
- Pull (market need)
- Combination of market needs and new tech
What is the interactive chain link innovation model?
Each stage from market identification to distribution is filled with feedback loops to research and knowledge through iterative testing
What is the stage gate innovation model?
Each stage is separated by a decision to continue or kill the project
What is a platform
Something that allows direct connection between customers
What is Moors law?
Transistors on computers double every two years, resulting in enhanced computing power and therefore room for new innovation
What is the WAG model?
Data insights give opportunity for innovation, at first incremental is bigger but disruptive builds slower and becomes better later
What does the three horizon model state ?
It states, that businesses In the short term care for core businesses, middle term for the growing business and long term for new disruption
What does the ambition model state?
That depending on what horizon is focused on you need to take different actions
What are the ten models of innovation?
- configuration (process, network, structure, Profit model)
- offering (Product Performance, Product system)
- Experience (Service, Channel, Brand, Customer experience)
What is the innovators dilemma?
When disruptive tech threatens existing business model and therefore they have to give up one
