Session 4 Flashcards
(23 cards)
What is innovation ?
Innovation is the “carrying out of new combinations” that include “the introduction of new goods, … new methods of production, … the opening of new markets, … the conquest of new sources of supply … and the carrying out of a new organization of any industry”
What are the 4 I’s ?
Idea
Invention
Innovation
Imitation
What is an Idea ?
Idea = Abstract concepts or research findings
What is an Invention ?
Invention = Transformation of an idea into a product
The modification and recombination of products
What is the step of “Innovation” ?
Innovation = Commercialization of an invention
What is an Imitation ?
Copying of an innovation
Voir slide
Can you give examples of entrepreneurs ?
Reed Hastings for Netflix
Elon Musk for Tesla Motors, Solar City, SpaceX, Paypal
Who are entrepreneurs ?
The process by which change agents undertake economic risk to innovate.
Create new products.
Create value for society.
Commercialize ideas and inventions
What is the shakeout stage ?
voir slides
What is the maturity stage ?
Only voir slide
What is the decline stage ?
Demand falls rapidly voir slide
What are the 4 strategic options to pursue ?
1) Exit
What are the different level of customer into the crossing the chasm framework ?
1) Technology Enthusiats
2) Early Adopters
3) Early Majority
4) Late Majority
5) Laggards
Who are the technology enthusiasts ?
voir slide
Early adopters ?
voir slide
Who are the early Majority ?
Enter the market during the shakeout stage
Who are the late majority ?
voir slide
Who are the laggards ?
voir slide
Ex radical innovation
Ex: Gilette au départ
Ex incremental innovation
iphone maintenant
ex disruptive innovation
Iphone en 2007
Ex architectural innovation
Satellite to provide internet
Self-landing markets
How to repond to Disuptive innovation ?
1) Continue to innovate to stay ahead of the competition
Guard against disruptive innovation by protecting low end of the market
Disrupt yourself rather than wait for others to disrupt you
