Module 1: Managing Innovation Flashcards
What is the S-curve in the technology life cycle?
The S-curve describes the progression of a technology from introduction, through growth, and into maturity.
What challenges do managers face when managing innovation initiatives?
Managers face challenges such as high uncertainty, unpredictability of new markets, and evolving technologies.
What does organizational alignment refer to in managing innovation?
Organizational alignment refers to the fit between strategy, structure, systems, people, and culture to support innovation.
What is organizational inertia?
Organizational inertia refers to resistance to change in established processes (structural) and long-standing cultural beliefs (cultural).
What is an ambidextrous organization?
An ambidextrous organization is one that balances exploiting existing businesses while exploring new opportunities through innovation.
How do ambidextrous organizations manage both existing and new markets?
They create semi-autonomous units that focus on new opportunities while maintaining core operations for existing businesses.
What role do leaders play in ambidextrous organizations?
Leaders foster a culture of innovation, balancing the exploration of new opportunities and execution of established processes.
What is the role of uncertainty in innovation management?
Uncertainty makes it difficult for managers to predict how new markets or technologies will evolve, complicating decision-making.
How does organizational fit affect innovation?
The alignment between the firm and its competitive environment determines how effectively it can respond to new technologies and markets.