Outsource Innovation Flashcards

1
Q

Strategic innovation

A

Reinventing corporate strategy

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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
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3
Q

Why food and beverage industry example for shoudn‘t outsource innovation

A
  • recipe is strong source of comp advantage
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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
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5
Q

Private labels vs A brands

A

Private: Each retailer own range of products (loyal customer relations)
A: Brands of comp

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6
Q

open innovation

A

Sourcing innovation outside of firms boundaries (could also be consumers, universities)

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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)

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