The PIC

Question 1

What are sources used to develop strategy of PIC? (3)

Answer 1

1. Corporate mission
2. Platform planning
3. Strategic fit

Question 2

What is a PIC? (2)

Answer 2

1. A document prepared by senior management designed to provide guidance to the business units on the role of innovation
2. Form of mission statement on a micro level of the firm, and adapted to new product activities

Question 3

What does it allow for? (3)

Answer 3

1. Delegation
2. Permits financial and call for personal assignment
3. All within agreed scope of activity

Question 4

What is the first step? (2)

Answer 4

Background:

1. Why did we develop this strategy anyway?
2. Involves key ideas from the situation analysis, special forces, such as managerial dicta; reasons for preparing a PIC at this time

Question 5

What is the second step? (4)

Answer 5

Focus (the arena)

1. sources: core competencies
2. Leverage capabilities: tech, product experiences customer franchise and end user experience

built on combination of:

3. Technology drivers: turning technical specifications into product features that satisfy the market needs,
4. Market drivers: customers group and end users, involves customer as coproducers and partners.

Question 6

What is the third step? (2)

Answer 6

Goals and objectives:

1. involves: what the project will accomplish, short term or long term objectives/goals. Evaluation measurements,
2. Types: profit, growth and market status

Question 7

What is the final step? and the three routes? (4)

Answer 7

Special guidelines
1. Involves: any rules of the road. Requirements imposed by upper management. Innovativeness order of market entry, time/cost/quality, miscellaneous.

2. Innovativeness: first to market, leveraged creativity, app engineering, adaptive product, imitation/emulation
3. Timing: first, quick second, slower entry and late entry.
4. Micellanceous: product integrity=consistent

Question 8

Give an example of a PIC for a company? (3)

Answer 8

1. Focus: Apples technology strengths include Apple’s operating system, hardware, applications, and services. It also has product design and development strengths by which it can provide products which are intuitive, simple and fun to use. on the marketing side, the customer want the newest products on the “cutting edge” that provides seamless integration, high performance and ease of use.
2. Goals: revolutionary new products should also be platforms for a line of products in the future. This is necessary due to the high costs of product development for Apples “really new” products. New products should also become the standard bearer, establishing a leadership position in the market.
3. Special guidelines: Apple wins to be the best not necessarily the first, in the new product categories.