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Strategic Formulation and Simulation > Session 4 > Flashcards

Session 4 Flashcards

1
Q

What is innovation ?

A

Innovation is the “carrying out of new combinations” that include “the introduction of new goods, … new methods of production, … the opening of new markets, … the conquest of new sources of supply … and the carrying out of a new organization of any industry”

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2
Q

What are the 4 I’s ?

A

Idea
Invention
Innovation
Imitation

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3
Q

What is an Idea ?

A

Idea = Abstract concepts or research findings

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4
Q

What is an Invention ?

A

Invention = Transformation of an idea into a product

The modification and recombination of products

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5
Q

What is the step of “Innovation” ?

A

Innovation = Commercialization of an invention

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6
Q

What is an Imitation ?

A

Copying of an innovation

Voir slide

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7
Q

Can you give examples of entrepreneurs ?

A

Reed Hastings for Netflix

Elon Musk for Tesla Motors, Solar City, SpaceX, Paypal

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8
Q

Who are entrepreneurs ?

A

The process by which change agents undertake economic risk to innovate.

Create new products.
Create value for society.
Commercialize ideas and inventions

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9
Q

What is the shakeout stage ?

A

voir slides

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10
Q

What is the maturity stage ?

A

Only voir slide

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11
Q

What is the decline stage ?

A

Demand falls rapidly voir slide

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12
Q

What are the 4 strategic options to pursue ?

A

1) Exit

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13
Q

What are the different level of customer into the crossing the chasm framework ?

A

1) Technology Enthusiats
2) Early Adopters
3) Early Majority
4) Late Majority
5) Laggards

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14
Q

Who are the technology enthusiasts ?

A

voir slide

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15
Q

Early adopters ?

A

voir slide

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16
Q

Who are the early Majority ?

A

Enter the market during the shakeout stage

17
Q

Who are the late majority ?

A

voir slide

18
Q

Who are the laggards ?

A

voir slide

19
Q

Ex radical innovation

A

Ex: Gilette au départ

20
Q

Ex incremental innovation

A

iphone maintenant

21
Q

ex disruptive innovation

A

Iphone en 2007

22
Q

Ex architectural innovation

A

Satellite to provide internet

Self-landing markets

23
Q

How to repond to Disuptive innovation ?

A

1) Continue to innovate to stay ahead of the competition
Guard against disruptive innovation by protecting low end of the market
Disrupt yourself rather than wait for others to disrupt you

Strategic Formulation and Simulation (4 decks)

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