Practice 23 Flashcards
1
Q
Strategic Innovation
A
process of reinventing or redesigning its corporate strategy to drive business growth, generate value for the company and its customers, and create competitive advantage. => technological change
2
Q
Operational Innovation
A
can make the difference between a company’s success and failure today. In fact, many start-ups are built on ideas that don’t reinvent the wheel but simply introduce better, more affordable or more practical ways of creating the wheel.
3
Q
Transformational leadership
A
management philosophy that encourages and inspires employees to innovate and develop new ways to grow and improve the path to a company’s future success
4
Q
Strategic development
A
5
Q
outsource innovation
A
- Reduce costs and increase R&D productivity
- Accelerate innovation with business partners specialized in investing in the early stage of product development
6
Q
Open innovation is
A
State of mind + process
