12 Questions
Which of the following best describes the Defender business strategy?
Aimed at defending a market through high quality and reasonable pricing
What is the main purpose of an Innovation Strategies Business strategy?
To determine the direction for innovation projects
In which phase of the Technology life cycle model does the market grow quickly and usually one dominant design emerges?
Transitional phase
What type of strategy is aimed at incrementally developing the existing market and adjacencies with low risks?
Analyzer
Which business strategy is often the second or third follower in the market?
Reactor
What is the aim of the Prospector business strategy?
To be first in the market
What type of innovation aims to help an organization maintain its competitive advantage by improving the features and performance of existing products, processes, and services?
Sustaining Innovation
When does the term 'leapfrogging' apply in a business context?
When competing with an innovator by introducing a newer innovation while skipping its innovation
Which type of intellectual property protection excludes others from exploiting the result of creative work, such as text, music, or art?
Copyrights
In which way can open-source strategies differ from traditional intellectual property protection methods?
By allowing anyone to use products free of charge under specific conditions
What does 'appropriability' refer to in the context of a firm's innovation strategy?
The ability to capture revenues from an innovation
Which concept describes the idea that a product or service, when introduced into an established industry, can displace market leaders by performing better or costing less?
Disruptive Innovation
Learn about how innovation strategies help firms determine their direction and select projects. Explore different types of business strategies related to innovation, such as Prospector and Defender, in order to stay competitive in the market.
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