L5

Question 1

Two criteria for being innovative

Answer 1

○ Come up with something new =novel

○ Has to make money = cash flow, profit

Question 2

Companies face tensions such as

Answer 2

Long and short term
Competence disruptive vs enhancing
Individual/collective creativity vs strategic alignment ·
Slack vs speed

Question 3

Innovation strategy - firm level

Answer 3

1. Embedding the innovation strategy
   
   2. Define the objects of innovation strategy (new product, extend, develop old ones)
2. Implement strategy (portfolio, funnel roadmaps, alliances, organize for innovation)

Question 4

two types of strategy

Answer 4

Corporate strategy - What industry you want to be

Competitive strategy -How to make a difference - create competitive advantage

Question 5

Red vs blue ocean strategy

Answer 5

Compete in existing market vs create market
Beat competition vs make it irrelevent
Exploit existing demand vs create demand