You need an innovation strategy

Question 1

What are three questions a innovation strategy should answer?

Answer 1

1. How will innovation create value for potential customer?
2. How will the company capture a share of the value its innovations generate?
3. What types of innovations will allows the company to create and capture value, and what resource should each type receive?

Question 2

What are four types of innovation?

Answer 2

1. Disruptive
2. Architectural
3. Routine
4. Radical

Question 3

Which innovation is most profitable?

Answer 3

Greatest profit come form routine innovation while the rest are good source for growth

Question 4

Draw the innovation landscape map

Answer 4

Summary p.25

Question 5

What are two approaches in innovation to demand?

Answer 5

1. Demand pull approach: limited by customer imagination

2. Supply push approach: developing technology and later finding market