Week 8 (innovation, entrepreneurship & 'born global')

Question 1

state invention vs innovation

Answer 1

Invention is coming up with something new, Innovation is bringing the idea to fruition

Question 2

What is a resource based view

Answer 2

an economic approach to strategy that states: the firms competitive advantage comes from its set of idiosyncratic & immobile strategic resources & capabilities

Question 3

What should firm specific resources be

Answer 3

Valuable, Rare, Imperfectly imitable & organisation based

Question 4

What are features of dynamic capabilities

Answer 4

• Quick/incremental learning
• integration of new assets/radical learning
• modification & transformation of new assets

Question 5

What are capabilities

Answer 5

come from bundling resources together to modify, reconfigure & leverage them to create competitive advantage

Question 6

Assets augmentation vs exploitation

Answer 6

Augmentation is exploiting cheaper/better inputs to cut costs or improve products & services
Exploitation is adapting current outputs for new markets to increase sales

Question 7

What are the three forms of innovation activities

Answer 7

1) Sensing opportunities for innovation
2) Responding
3) Implementing the innovation

Question 8

what are the four basic MNE structural archetypes

Answer 8

centre-for-global, local-for-local, local-for-global and global-for-global

Question 9

What is the Uppsala model

Answer 9

It implies gradual, step-by-step internationalisation