14 Questions
What are the four components of platform ecosystems?
Producers, providers, consumers, and owners
What is the main value generator for platforms?
Multiple market sides
Which type of innovation involves changing the basis of competition?
Industry structure innovation
Which company generated the majority of global profits in the mobile-phone industry by 2015?
Apple
What is the main focus of platform strategy?
Understanding external forces
Who are the four components of platform ecosystems?
Producers, providers, consumers, and owners
What is the value proposition of disruptive technologies?
They offer a different value proposition than previously available technologies
What is central to platform strategy?
Understanding external forces
What does the Innovator's Dilemma explain?
Why market leaders are often set up to fail as technologies and industries change
What are the different types of innovation?
Product, process, value, management/organizational, service, and industry structure
What is the definition of radical innovation?
Changing the basis of competition
What does disruptive innovation involve?
Improvements in performance, cost reduction, new performance features, and changing the basis of competition
When does disruptive innovation occur?
When mainstream customers start adopting the entrants' offer
What does The Innovator's Dilemma explain?
Why market leaders are often set up to fail as technologies and industries change
Study Notes
- Platforms bring together multiple market sides and generate value from network effects.
- The iPhone generated 92% of global profits in the mobile-phone industry by 2015.
- Platform ecosystems consist of producers, providers, consumers, and owners.
- Understanding external forces is central to platform strategy.
- Innovation involves the effective introduction of new ideas and business models.
- Types of innovation include product, process, value, management/organizational, service, and industry structure.
- Radical innovation involves improvements in performance, cost reduction, new performance features, and changing the basis of competition.
- Disruptive technologies emerge occasionally and have a different value proposition than previously available.
- The Innovator's Dilemma explains why market leaders are often set up to fail as technologies and industries change.
- Disruptive innovation occurs when mainstream customers start adopting the entrants' offer.
Test your knowledge on platform strategy and innovation with this informative quiz. From understanding the components of platform ecosystems to identifying disruptive technologies, this quiz covers a range of topics essential for anyone interested in the world of business and technology. Sharpen your skills and impress your colleagues with your newfound expertise on platforms, innovation, and market disruption.
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