Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

Stategic Marketing > Topic 7 Innovation strategy > Flashcards

Topic 7 Innovation strategy Flashcards

(57 cards)

Start Studying
1
Q

Innovation paradox

A

the basic problem contronting an organization is to engage in sufficient exploitation to ensure its current viability and at the same time, devote enough energy to exploration to ensure its future viability

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Modern times

A

the billows feeding machine

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

the highest performing company has a well developed system tailored to capture the value from its lead customers

A

structure
capability
culture
operation
partnership management
->THE LEAD CUSTOMER

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

with the marketing department the project team gathered feedback from their lead customers and did the market analysis

A

they chose the best project for the project for the product or improvement their leader customers want

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

best projects

A

best market size
best profit margin
customer validation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

its extremely difficult to keep resources for a disruptive innovation for an unproven market

A

funding
manpower

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

give responsibility for disruptive innovation to organizations whose customers need them

A

well run company
lead customers
a spin off organization
niche market

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

place disruptive innovation projects in organizations

A

small enough to get excited about small market

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

this is good enough for me

A

the right dna and the right smell

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

disruptive innovation

A
  • small organization - small market
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

plan to fail early and inexpensively in the search for the market for disruptive innovation
the right mindset

A

failure leads to success
the road of innovation goes zig zag

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

utilize the resources of the mainstream organization to address disruption but not its process and values

A

the forget, borrow and learn challenge
i dont need an oil truck, but i need the petrol in its tank

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

disruptive innovation is a marketing challenge

A

when disruptive innovation is presented
disruption company take it as a marketing challenge
take the leap of faith and target innovators and early adopters

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

The right organizational dna for innovation
the dna of a company

A

$staff
leaderships style, hiring and promotion policies, career paths, competencies
$structure
decision authority, formal information flows, task flows
$systems
planning, budgeting, performance evaluation, incentives
$culture
values, embedded biases and assumptions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

today, tomorrow and day after

A

time, attention, budget, talent = value creation
yesterday not included into value creation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

creating a separate but connected organization

A

existing company dna forget and burrow their dna into new company

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

learn forget and borrow

A

the new company must forget the existing companies assumptions as to why it wins
the new company must borrow the correct assets (capabilities and resources) from the existing company
the new company must learn how to make a profit in an uncertain market

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

the hourglass model

A

balancing sense and trying with scaling and running

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

sense

A

your radar screen for all things new and exciting: new idea, technologies, models and concepts

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

try

A

experiment with ingredients for change, create a safe environment to test ideas fast and safely

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

scale

A

which concepts, ideas and projects are really worth scaling out throughout the organization

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

run

A

run the operations as smoothly, efficiently and reliably as possible

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

the innovation eco system
need

Study These Flashcards
A

fertile ground

24
Q

create, learn, test

25
innovation strategy
innovation thesis and innovation portfolio
26
innovation management
innovation framework innovation accounting
27
innovation practice
scale create learn test
28
managing the innovation portfolio
BCG matrix future market growth rate vs relative market share (on axes)
29
BCG matrix
uestion marks can be developed but at what cost stars market leader with high growth rate dogs mixed group of market challengers and losers cash cows market leader but low growth rate
30
MC kinseys three horizons of growth
value over time horizon 1 (1-2 years ) defend and expand current core business horizon 2 (3-5 years ) foster emerging new businesses horizon 3 (5+ years ) seed future businesses
31
Horizon 1
red ocean efficiency innovation optimize your current business model and maximize margin and profit by beating competition in an existing market battle for every customer (customer equity)
32
Horizon 1 tactical improvements to=
the customer value proposition go to market
33
Horizon 1 Metrics
customer acquisition costs customer lifetime value cost of goods sold (COGs) product quality = NPS, engagement scores, repeat orders etc
34
horizon 2: adjacent innovation
sustaining innovation tweak your current business model and grow your business by offering new value propositions to new target groups based on your innovation thesis manage the innovation framework: create, test and scale ideas challenge is to cross the chasm
35
horizon 2: adjacent innovation Metrics
Related to risks and assumptions do we solve a real pain of the customer can we use the existing channels to reach our target group prioritize these questions based on how unknown and how critical they are
36
horizon 3 Blue ocean
radical or transformative innovation this is about value innovation and new technologies that can dramatically change customer expectations and market dynamics = disruption highly risky and totally new business models where the level of uncertainty is close to 100%
37
the innovation sweetspot
kapil kane feasibility desirability viability (financially viable)
38
Kapil kane questions
can we deliver it? do customers want it? what is it worth?
39
takeaways kapil kane: cross the corporate innovation chasm
innovation = idea + execution
40
an intrapreneur
an entrepreneur inside a company
41
who has the challenge to cross the chasm by following some rules
ideation: relevant, reasonable, time bound incubation: demo or die business validation: innovation= novelty + $$$ pitching: sell your idea to the right people
42
its a journey: take the leap of faith
future leads to success the road of innovation goes zig zag need right mindset and culture
43
takeaways kapil kane
because 40% of all fortune 500 companies will be extinct in 10 years. in other words: avoid a kodak moment be aware that today big companies also compete with startups therefore have a healthy number of intrapreneurs inside your company
44
Webinar strategizer AI
artificial intelligence simulation of human intelligence in machines (apple siri)
45
machine learning
a method of data analysis that automates analytical model building (netflix recommendations
46
deep learning
a subset of ML involving neural networks with many layers (tesla autopilot)
47
natural language processing (NLP)
understand and produces natural language (google translate)
48
generative AI
Ai algorithms create new content
49
large language model
an ai model designed to understand, generate and predict text by processing large amounts of natural language data using deep learning techniques
50
why is ai booming
it became accessible for any developer, start up no/less investments are needed developers can focus on the front end increased competition from 5 weeks to 5 hours
51
how can you compress the innovation cycle with AI
ideation: wider triggering idea prototyping: rapid visuals of ideas and concepts customer profiling: discovery assets generated insights: analysis and pattern discovery sharing: story telling visuals + research
52
innovation governance
example ping an is a technology company and not a banking company
53
3 types of business value creation with AI (explore-exploit)
disruptive business models new value propositions increased efficiency
54
disruptive business models
disruptive or transformative ai based business models
55
new value propositions
ai driven products, services and value propositions
56
increased efficiency
improved processes based on application of ai
57
what should we be mindful of when using ai?
discrimination and bias risk to IP quality control impact of decisions

Stategic Marketing (8 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions