Business Strategies and Innovation Concepts

Innovation that significantly changes the existing design and core concepts, introducing new components and architectures. It involves breakthroughs in technology, leading to disruptions and new markets.

Innovation that improves existing components or features within a product, but keeps the core design and architecture unchanged.

Industries characterized by competition and innovation focused on meeting existing customer needs through incremental improvements. They tend to respond to market demand.

Industries in their early stage, often driven by new technologies or solutions looking for problems. They emphasize pushing new ideas into the market.

A focus on pulling products into the market based on existing customer demands and needs.

A focus on pushing new technologies or solutions into the market, even if the problem isn't yet clear.

The degree to which an innovation changes the components and their connections (architecture) within a product or service.

A model that classifies innovation based on its impact on the components and their connections (architecture) in a product or service. It highlights four types: Radical, Architectural, Modular, and Incremental.

The process by which a new innovation is communicated and spreads over time within a social system.

Individuals who are the first to adopt a new innovation. They are typically adventurous, comfortable with uncertainty, and have access to resources.

Individuals who adopt a new innovation shortly after innovators. They are well-connected in their social system and often influence others.

Individuals who adopt a new innovation after it has been proven successful by early adopters. They are cautious but willing to take calculated risks.

Individuals who adopt a new innovation later than average. They are skeptical and require more evidence of its usefulness before adopting it.

Individuals who are the last to adopt a new innovation. They are very resistant to change and rely heavily on tradition.

The perception that an innovation is useful and meets the needs of potential users.

The method used to communicate an innovation to a social system.

The advantages of a new technology must be weighed against its cost from the customer's perspective.

The adoption of a new technology can be slow because the concept of innovation itself is socially constructed. People's perceptions and beliefs influence how they view and accept new ideas.

Established companies might resist adopting new technologies due to the need to invest in new competences that they currently lack.

The success of a new technology depends not only on its own merits but also on its compatibility with existing technologies and the availability of complementary goods and services.

When the market fails to recognize the true value of an innovation, inferior technologies can prevail over superior ones.

The adoption of a new technology is often slower than the dissemination of information about it. This is because technological adoption requires more than just knowledge; It involves implementing the technology, learning how to use it, and adapting existing systems.

Factors like organizational culture, resistance to change, adaptation to previous technologies, and institutional pressure can all hinder the adoption of new innovations.

The value of an innovation, beyond its technical features, depends on its ability to enhance customer experience, aesthetic qualities, ease of use, and other factors.

A contractual agreement where one company (licensor) grants another company (licensee) the right to use its intellectual property (e.g., patents, trademarks) for a specific purpose.

A business arrangement where two or more organizations collaborate to achieve a common goal, often by pooling resources or sharing knowledge.

A type of strategic alliance where two or more companies create a new, independent entity to operate a specific business.

A type of strategic alliance where companies collaborate in specific parts of the value chain, such as research, production, or marketing.

The practice of hiring another company to perform specific tasks or provide services that were previously done in-house.

A legal document granting the inventor exclusive rights to a new invention.

The length of time a patent is valid, protecting the inventor's exclusive rights.

A detailed section within a patent application outlining the technical aspects of the invention and its scope of protection.

The process of formally applying for a patent with the national office, marking the invention as potentially patentable.

A strategy using a patent to prevent competitors from developing similar technologies, even if the invention is not immediately commercialized.

A strategy using a patent to commercially exploit an invention by selling or licensing it to others.

A process by which a patent application is reviewed and evaluated, leading to potential approval and publication.

A right granted by a patent that allows others to use the patented invention under specific terms and conditions.

A large-scale clinical trial involving many volunteers with the target disease. It gathers crucial data on the treatment's safety and effectiveness before regulatory approval.

A post-marketing surveillance phase after regulatory approval, focusing on monitoring the drug's safety and effectiveness in real-world use.

The process of new drug development involves multiple stages, each requiring specific resources, expertise, and scientific knowledge. From initial discovery to market approval, various research institutions and pharmaceutical firms contribute to this complex process.

The rate of successful drug candidates advancing through each stage of the R&D process can vary significantly. Factors such as the drug target, market characteristics, and company strategy influence the probability of success at each stage.

The adoption and diffusion of new treatments in healthcare often involve diverse decision-making contexts. These include individual decisions, collective decisions influenced by social factors, and authoritative decisions made by experts or powerful individuals.

When adoption decisions are made by individuals fully informed about the advantages and disadvantages of a treatment, without external influences, the conventional models of adoption and diffusion may apply.

Social pressures and formal requirements within a healthcare system can influence adoption decisions, often involving collaborative choice-making.

In some contexts, a few individuals with power, status, or expertise make decisions on behalf of others regarding healthcare innovations.