Models of Innovation in Management

What type of firm is most likely to innovate?

The use of new knowledge to offer a new product or service that customers want.

Invention is a new way of doing things, while innovation is invention + commercialization.

<p>Technological knowledge and market knowledge.</p> Signup and view all the answers

<p>Knowledge of components, linkages between components, methods, processes, and techniques that go into a product or service.</p> Signup and view all the answers

<p>Knowledge of distribution channels, product applications, and customer expectations, preferences, needs, and wants.</p> Signup and view all the answers

<p>It has a lower cost, improved attributes, new attributes, or it never existed in that market before.</p> Signup and view all the answers

<p>Because innovation is driven by a firm's need to compete in the market.</p> Signup and view all the answers

<p>A new way of doing things that is commercialized.</p> Signup and view all the answers

<p>Technical innovation requires grate knowledge of thermodynamics, coolants, and electric motors, whereas administrative innovation does not.</p> Signup and view all the answers

<p>A new product or service introduced to meet an external and market need.</p> Signup and view all the answers

<p>New elements introduced into an organization's production or service operations.</p> Signup and view all the answers

<p>An innovation that builds on existing knowledge.</p> Signup and view all the answers

<p>Innovation renders old products noncompetitive with superior products (lower cost, better or new features).</p> Signup and view all the answers

<p>To offer new products or services to customers.</p> Signup and view all the answers

<p>They are incremental.</p> Signup and view all the answers

<p>Wal-Mart's location of discount retail stores in small towns in the southwestern United States</p> Signup and view all the answers

<p>Superior products (lower cost, better or new features).</p> Signup and view all the answers

<p>Invention is generating an idea or prototyping, while innovation involves championing, herding, and nurturing it into a product or service that customers want.</p> Signup and view all the answers

<p>Old products become noncompetitive.</p> Signup and view all the answers

<p>It is defined in terms of the extent to which it impacts a firm's capabilities.</p> Signup and view all the answers

<p>Technical innovation involves improved products, services, or processes, while administrative innovation pertains to organizational structure and administrative processes.</p> Signup and view all the answers

<p>It is an innovation that requires very different technological knowledge, rendering existing knowledge obsolete.</p> Signup and view all the answers

<p>Because making them required firms to integrate different knowledge and skills, making existing knowledge obsolete.</p> Signup and view all the answers

<p>Competence-destroying innovations make existing knowledge obsolete, while competence-enhancing innovations build on existing knowledge.</p> Signup and view all the answers

<p>Profiting from innovation.</p> Signup and view all the answers

<p>It must be converted into a product or service that customers want.</p> Signup and view all the answers

<p>The perspective of the innovating firm</p> Signup and view all the answers

<p>Regular, Niche, Revolutionary, and Architectural</p> Signup and view all the answers

<p>An innovation that conserves the manufacturer's existing technological and market capabilities</p> Signup and view all the answers

<p>An innovation that conserves technological capabilities but obsoletes market capabilities</p> Signup and view all the answers

<p>An innovation that obsoletes technological capabilities but enhances market capabilities</p> Signup and view all the answers

<p>An innovation that makes both technological and market capabilities obsolete</p> Signup and view all the answers

<p>An innovation that enhances both component and architectural knowledge</p> Signup and view all the answers

<p>An innovation that destroys both component and architectural knowledge</p> Signup and view all the answers

<p>Market knowledge can be just as important as technological knowledge</p> Signup and view all the answers

<p>What the innovation does to the capabilities of the firm and its innovation value-added chain of suppliers, customers, and complementary innovators</p> Signup and view all the answers

<p>Because the innovation may affect the firm's capabilities differently than those of its suppliers, customers, or complementary innovators</p> Signup and view all the answers

<p>They are important and difficult to establish, and can affect the success of an innovation</p> Signup and view all the answers

<p>If the innovation is competence-enhancing for their value chain</p> Signup and view all the answers

<p>They are part of the chain affected by an innovation, and their capabilities can influence the success of the innovation</p> Signup and view all the answers

<p>They can be negatively affected</p> Signup and view all the answers

<p>It can enhance or destroy them</p> Signup and view all the answers

<p>It highlights the importance of considering the impact of an innovation on the entire value chain, not just the firm</p> Signup and view all the answers

<p>Because the success of an innovation depends on these relationships</p> Signup and view all the answers