L1: Introduction Flashcards
1
Q
What are the two basic functions of any enterprise according to Peter Drucker?
A
Marketing
Innovation
2
Q
What is one way of implementing market orientation?
A
Innovation
3
Q
What is the importance of new products (3)?
A
Facilitates implementation market orientation
Needed for differentiating from competitors
Needed for long term performance/survival
4
Q
What is meant by inertia?
A
Keep on doing the same thing, absence of change
5
Q
Why do innovation and inertia not go together?
A
By definition, innovation is change. Successful new products/services is mainly about overcoming this inertia.
