Outsource Innovation Flashcards
1
Q
Strategic innovation
A
Reinventing corporate strategy
2
Q
Why shouldn’t outsource innovation
A
- protect intellectual property to avoid/delay becoming commodity
- competitive advantage often depends on companies trade secrets
- third party manufacturers can become competitors themselves
- lose focus on innnovation
3
Q
Why food and beverage industry example for shoudn‘t outsource innovation
A
- recipe is strong source of comp advantage
4
Q
Why firms should outsource innovation
A
- reduce costs and increase R&D productivity (leverage expertise from third party companies)
- accelerate innovation with business partners specialized in investing in early stage product development
5
Q
Private labels vs A brands
A
Private: Each retailer own range of products (loyal customer relations)
A: Brands of comp
6
Q
open innovation
A
Sourcing innovation outside of firms boundaries (could also be consumers, universities)
7
Q
Examples for open innovation
A
FREZITE: platform for product development (B2B)
Olegario fernandes: premium smart packaging for MNEs (B2B)
Tecnimede: in-licensing (get rights), out-licensing (give rights) (B2B)
Consortium bw companies and universities to develop new molecules, funded by EU: (knowledge transfer)
