Chapter 1 + 3 Flashcards
(32 cards)
Gross Domestic Product (GDP)
(= bruto binnenlands product)
total annual output economy as measured by its final purchase price
(= totale marktwaarde alle goederen & diensten binnen een bepaald land in een bepaalde periode worden geproduceerd)
most important driver of competitive success
technological innovation
why increasing importance of innovation?
globalization markets
what does process innovation with the costs of companies
it lowers costs
Solow Residual
extra stijging Gross Domestic Product (=bruto binnenlands product)
niet toegewijd aan rate of growth labor & capital
essence technology
knowledge
Innovation Funnel
most innovative ideas don’t become new products
—— \_\_\_\_
\_\_\_\_ —— ***1 product***
maximize the likelihood of projects being both technically and commercially
successful
(3x)
a. in-depth understanding dynamics innovation
b. well-crafted innovation strategy
c. well-designed process for implementing inn strategy
Technology Trajectory
The path a technology takes through its lifetime, referring to its rate of performance improvement, rate of diffusion, or other significant changes.
Product Innovation
Innovation embodied in an organization’s outputs, such as goods or services.
Process Innovation
Innovation in how an organization conducts its business, including production and marketing techniques.
Radical Innovation
A highly novel innovation that is significantly different from prior solutions.
Incremental Innovation
A minor change or adjustment to existing practices.
Competence-Enhancing Innovation
An innovation that builds on an organization’s existing knowledge and skills.
Competence-Destroying Innovation
An innovation that renders existing knowledge and skills obsolete.
Component (Modular) Innovation
An innovation that affects one or more components without significantly altering the overall system configuration.
Architectural Innovation
An innovation that changes the overall design of a system or how its components interact.
Technology S-Curve
A model showing the typical growth pattern of a technology’s performance or adoption over time, consisting of slow initial growth, rapid improvement, and eventual stagnation.
Discontinuous Technology
A new technology that fulfills a similar market need but is based on an entirely different knowledge base.
Technology Diffusion
The spread of a technology through a population.
Moore’s Law
The observation that the number of transistors on a microchip doubles approximately every two years, increasing computing power.
Dominant Design
A product design that becomes the standard in an industry, creating a stable architecture for future innovations.
Technology Cycles
The cyclical pattern of technological change, including phases of turbulence, innovation, and stabilization.
Creative Destruction
A concept where old technologies and business models are replaced by new, more efficient ones, driving economic progress.
