study guide 5

Question 1

The process view of innovation is applied in three steps

Answer 1

1) information and knowledge are gathered and obtained. This information is then organized and finally it is deployed for commercial purposes

Question 2

There are three types of institutions that act as the building blocks of innovation

Answer 2

Regulatory institutions

Nromative institutions and values

Cognitive and cultureal institutions

Question 3

Four forces that shape innovation and technology

Answer 3

Competitive intensity in focal industry

Demand conditions

Related and supporting industries/complementors

Factor conditions

Question 4

Factor conditions

Answer 4

A nations endowements in terms of naturla, human, and other resources

Question 5

Demand conditions

Answer 5

Specify characteristics of demand in a firms domestic market

Question 6

Competitive rivalry and intensity

Answer 6

Firm networks and rivalry. It refers to teh innovation intensity among firms. Highly competitive environments tend to stimulate firms to outperform others

Question 7

Related and supporting industry

Answer 7

Supportin gservices, design, distribution, and suppliers for other activities in the value chain. Leadership in related and supporting industries can also foster world-class competitors in the downstream industry

Question 8

The innovation process model takes four steps that loop into each other. At the end of one cycle another begins

Answer 8

Forecast technological change: track scientific and technical changes int he market

Invest in R&D or acquire from outside: Internal development, strategic alliances, acquisitions

Implements technology: Experiment, design and pilot

Integrate and exploit technology: manufacturing and marketing