lesson 1

Question 1

because of first mover advantages and disadvantages,

Answer 1

competitive advantage can spring from when a move is made as well as what move is made

Question 2

what leads to first mover advantage?

Answer 2

1. when a first mover can set the technical standard for the industry
2. when pioneering helps build a firm’s reputation and creates strong brand loyalty
3. when a first mover’s costumers will thereafter face switching costs

Question 3

what leads to late mover advantage?

Answer 3

1. when pioneering is more costly than imitating
2. when products of an innovator don’t lead up to customer expectations
3. when rapid market evolution allows fast followers to leap frog a first mover’s products with more attractive next version products

Question 4

what does blue ocean strategy offer?

Answer 4

growth in revenues by discovering or inventing new industry segments that create new demand

Question 5

the business universe is divided into what?

Answer 5

an existing market with boundaries and rules in which rival firms compete for advantage

Question 6

what is a blue ocean market space?

Answer 6

the industry has not yet taken shape, there are no rivals and there is wide open long-term growth and profit potential

Question 7

characteristics of a blue ocean market space

Answer 7

• uncontested market space
• make the competition irrelevant
• create and capture new demand

Question 8

the risky business of going against the grain

Answer 8

creative destruction

Question 9

the art and science of recognizing original ideas

Answer 9

blind and one-eyed inventors

Question 10

speaking truth to power

Answer 10

out on a limb

Question 11

timing, strategic procrastination, and first-mover advantages

Answer 11

fools rush in

Question 12

creating and maintaining coalitions

Answer 12

Goldilocks and the trojan horse

Question 13

how siblings, parents, and mentors nurture originality

Answer 13

rebel with a cause

Question 14

the myths of strong cultures, cults, and devil’s advocates

Answer 14

rethinking groupthink

Question 15

managing anxiety, apathy, ambivalence, and anger

Answer 15

rocking the boat and keeping it steady

Question 16

what did Originals by Adam Grant discuss

Answer 16

procrastination for creativity

Question 17

we discussed the book moneybag by Michael Lewis. why does this story best convey innovation and creativity within a larger organization?

Answer 17

the Oakland A’s used data in new ways to overcome limited resources