innovation Flashcards

Question

Steps in creating an innovation strategy

Answer 1

(1) How will innovation will create value for potential customers?(market orientation) (2) How will the company capture and defend the innovations’ value? (3) What types of innovation will allow the company to create and capture value, and what resources should each type receive? - -> innovation landscape map (disruptive, architectural, routine, radical)

Answer 2

resources capabilites (searching, selecting, configuring, deploying) processes

Answer 3

Passive innovation strategy (occasionally incremental) Reactive innovation strategy (wait and see, entirely incremental) Active innovation strategy (quickly follow, mainly incremental) Proactive innovation strategy (Aiming for technological and market leadership, radical and incremental)

Answer 4

Market-oriented „What do our customers desire?” Competition-oriented „How do we differentiate ourselves from our competitors?” Co-Opetition „How could we best leverage firm-external resources for innovation?” Technology-oriented „How could we realise new solutions by means of cutting edge technology?” Time-oriented „When should the new solution be introduced into the market?” Industry-specific “Shaped by the particular characteristics of industries/markets/technologies

Answer 5

“Market-orientation promotes the satisfaction of market needs with a higher degree of excellence than competitors. ``` Strategy alternatives: • Market expansion • Diversification • Market penetration • Product development ```

Answer 6

Strategy alternatives: • Technology leadership vs. technology presence Long-term, systematic development of unique competencies and skills in selected fields, in particular pacemaker and key technologies vs Average level of performance (no uniqueness), in particular in maturity phases and when no competencies and skills for technology leadership are accessible * Strategy of technological niche pursuit * Strategy of technological competence purchase

Answer 7

Strategy alternatives: • First mover strategy -Goal Technology / market leadership, -Type of innovation Long-term, high-risk projects, Radical innovation - Source of knowledge Scientific progress, In-house R&D • Strategy of the early follower - Goal ▪ No technological leadership but not lagging behind - Type of innovation Incremental improvements in products and processes, Differentiation, Short-termed orientation - Source of knowledge Learning from first movers‘ mistakes/failures, In-house R&D (Absorptive Capacity!) • Strategy of the late follower • Imitation strategy -Goal Following the innovators with rather long distance -Type of innovation Imitation of existing technologies, Use of production technologies, Focus on efficient processes (economies of scale) -Source of knowledge Competitors, Licensing and purchase of external knowledge

Answer 8

Strategy alternatives: • Differentiation strategy • Strategy of cost leadership • Niche strategy

Answer 9

trategy alternatives: • Traditional strategy (covering market demand, no change in products, only in design, manufacturing technology) • Dependent strategy (surviving besides established, modifaction of technical specifications, imporvement of know how)

Answer 10

``` Expected creativity (open problem external driver) Required solutions to discovered problems (e.g., creating artwork) ``` Responsive creativity (closed problem external driver) Required solution to specified problem (e.g., responses produced by think tank) ``` Proactive creativity (open problem internal driver) Volunteered solution to discovered problem (e.g., unprompted suggestions) ``` ``` Contributory creativity (closed problem internal driver) Volunteered solutions to specified problem (e.g., contribution by nonproject member) ```

Answer 11

* Discrepancy between desired and current status * Dissatisfaction with existing solutions * Will to create something "new," "unique" (expressive component) * Limitations in available resources – "deficiency

Answer 12

* Relevant knowledge * Flexibility in action and intuition * Personal traits * Cooperation and interaction * Environment/framework * Responsible action

Answer 13

Free associations - Unstructured, no criticism, all inputs are welcome / no guidance - Generating as many new ideas as possible Structured associations - Given structure is being passed through / - deepening ideas and developing perspectives - scamper. 6 hats Combination - New combinations of existing elements / sorting thoughts - extending / broadening existing ideas & solutions Confrontation - Transfer of principles / concepts not connected to the problem - Linking solutions / ideas from different areas

Answer 14

Buzz-Session Headstand Brainstorming Situative

Answer 15

1. choose company 2. mapping 3. transferrable elements 4. modifications

Answer 16

1. choose modifier concept 2. search ffor differences 3. filling the slots 4. modifications

Answer 17

Opportunities “those situations in which new goods, services, raw materials, and organizing methods can be introduced and sold at greater than their cost of production” Discovery theory Opportunities exist and need to be detected Creation theory Opportunities emerge when enacted by individuals or organizations

Answer 18

Qualitative assessment – 7C checklist Qualitative-quantitative assessment: -Subjective evaluation of objective criteria -Benefit evaluation

Answer 19

``` qualitative assessement - 7c checklist Advantages • Easy to use and handle • Not much time needed • Force towards clear statements (yes/no) • Many application fields ``` Disadvantages • Subjective estimations potentially lead to biases • Only broad and general results • Only to be used in early stages of idea assessment

Answer 20

Qualitative-quantitative assessment: Subjective evaluation of objective criteria ``` Advantages • Easy and fast to use • Clarity and transparency • Feasibility • Reduces complexity • Suitable for initial prioritization ``` Disadvantages • Only feasible for assessing a limited number of ideas • Risk of wrong assessments • Limited transparency

Answer 21

Quantitative-qualitative assessment – Benefit evaluation ``` Advantages • Systematic procedure • Recognition of qualitative AND quantitative criteria • Objective and transparent • High level of acceptance ``` Disadvantages • High effort • Quality of results depends on thorough performance (e.g., weights have to be derived from the corporate strategy

Answer 22

Roadmaps can therefore be used for: › The control of concrete activities › The coordination of larger functional areas › The orientation of entire industries A distinction must be made between the terms: › Roadmap: Result-oriented view (PRESENTATION) › Roadmapping: Process-oriented view (CREATION)

Answer 23

input: - operative suggestion program - improvement team - creative processes ``` stages: idea gneration rough concept detailed concept market launch ``` risk decreases from start cost of activties increases in rough concept then decreases customer involvement decreases cost of modification increases manage risk but not postpone investments, time saving, remain flexible, coordination effort low

Answer 24

``` 0 discovery 1 scoping 2 build buisness cases 3 developement 4 testing and validation 5 launch ``` ``` gates: 1 first assessment 2 detailed assessment 2 deicison for developement 4 decision for testing and validation 5 decision for market launch ``` Advantages • Flops can be recognised early - Improvement of resource allocation - Time period between idea generation and market implementation can be reduced • Systematisation and visualisation of the innovation process • Can be flexibly adapted to individual organisational / project contexts • Ensures the involvement of different experts / knowledge carriers in the process of development • Risk management manage risks and postpone investments but not time saving or flexible, coordination effort medium

Answer 25

Advantages • Cross-functional integration • Significant reduction of time to market (up to 50%) • Joint agreement on goals and specifications increases intrapreneurial behaviour • Solution orientation • High flexibility Disadvantages • Working under high uncertainty in the first stages requires high flexibility, strong communicational skills and high commitment to standardised communication • High efforts for coordination • Bad planning and communication causes severe implications for all steps in the innovation process not manage risk and postpone investments but time saving and flexible, coordiantion effort high

Answer 26

1. Identify the „focus zones“ (arenas of opportunities) and innovation partners 2. Find and define the problem 3. Convene the participants to prototype 4. Achieve commitment

Answer 27

creative bazar jam central orchestra mod station

Answer 28

• Innovation scope / main theme and network management is defined (usually by a specific organization) • Group of companies come together to seize a market opportunity • Just as an orchestra is headed by a conductor, leadership by the dominant company is crucial for the innovative contributions of individual participants • Formal relationships or ties between members of the innovation network

Answer 29

• A dominant company is looking for innovation in a global bazaar of new ideas, products and technologies, leveraging its proprietary infrastructure to build on the new ideas and make them ready for the market (“shopping/screening for ideas”) • The company is the dominant member of the innovation network and makes the decision regarding the commercialization of innovation (products, services, technologies) come from a diverse network of inventors /consumers / users • Products or services have a different degree of maturity (raw ideas to market-validated concepts)

Answer 30

• JAM = short, free improvised passage played by the whole band; all players are on an eye-to-eye level (no hierarchy) • This model brings together contributors to help shape and develop ambitious breakthrough innovations / breakthrough technologies • The innovation space is typically unstructured, the goals and directions of innovation serve to emerge organically from collaboration • Key decisions that shape innovation processes and outcomes tend to evolve from the interaction of network members (not dominating network members

Answer 31

• "Mods" = computer-based games that allow modifications to existing coding (mod = modification) • Modification of existing products or services by the users/crowd as a basis for new innovation (“open-source”) • Goal: add, improve or customize existing products or services • Modifications can be taken-up later by the initiating company for the sake of commercialization • Standards and values that govern innovation are not determined by a dominant company

Answer 32

“a group of interacting firms that depend on each other’s activities” Innovation ecosystem • Focus: One single firm and the set of components and complementary elements, that support the innovative offering Ecosystem strategy is defined by the way in which a focal firm approaches the alignment of partners and secures its role in a competitive ecosystem

Answer 33

``` National culture A group of people who have been brought up within a given country. based on values • Power Distance Index (PDI) • Individual vs. collectivism (IDV) • Masculinity vs. femininity (MAS) • Uncertainty avoidance Index (UAI) • Long vs. short term orientation (LTO) • Indulgence vs. restraint (IVR) ``` ``` Organizational culture The culture of a company, how the members of the company relate to each other, to their work and to the outside world. based on practices • organizational effectivness • customer orientation • level of control • focus • approachability • management philosophy ```

Answer 34

Culture - “The programming of the human mind by which one group of people distinguishes itself from another group. - Culture is learned from the environment. - Culture is always a shared, collective phenomenon Values • Broad preferences for a certain state of affairs; transmitted by the environment (what is acceptable? What isn’t?)/ shaped by the time we hit 10-12 years of age Rituals • Recurring events that shape our unconscious minds Heroes • People who have shown behavior that sets the example Symbols • Items (observable)

Answer 35

resources • People (often the most critical) • Systems • Projects values • Drivers of priorities and decisions (“how a company spends its time and money”) processes • The innovation journey behaviours • how people act success • External recognition • Business success • Personal careers climate tenor of workplace life

Answer 36

articulate - Articulate what you believe in, what you want all members of the organization to share - Specify the kinds of behaviors that support these believes enable Enable people to learn and practice the desired behaviors -Training of specific skills  -Providing structure/ guidance (e.g. policies or procedures) -Providing tools (e.g. idea sharing platforms) reinforce -Setting a feedback pattern (reward & sanction) to help reinforce the desired behavior review

Answer 37

- starts with the actor who owns resource (who am i, what know, who do i know) - what can i do instead of what needs to be done - accept potential loss in case of failure make sure it’s affordable - no emphasis on detailed competition and opportunity cost analysis - objectives influenced by actors on board

innovation Flashcards

(61 cards)