1 Questions
When did Jobs become CEO of Apple and what did he implement?
1997, an Integrated Proprietary Architecture
Study Notes
- Innovation means introducing new ideas and business models in the marketplace.
- Types of innovation include product, process, value, management/organizational, service, and innovation in industry structure.
- Levels of innovation include sustaining, incremental, radical, and disruptive.
- Radical innovations have improvements in known performance features, lower cost, an entirely new set of performance features, and changes the basis of competition.
- Disruptive technologies underperform established products in mainstream markets.
- Innovator's dilemma explains why market leaders are often set up to fail as technologies and industries change.
- Disruptive innovation occurs when new entrants target overlooked segments and move upmarket, delivering the performance that incumbents' mainstream customers require.
- Incumbents often have advantages in sustaining innovation.
- Disruptive innovation can occur when mainstream customers start adopting the entrants' offer.
- Understanding technology, customers, industry structure, and ability to execute are important for successful innovation.
Are you an innovation expert or just getting started? Test your knowledge with this quiz on different types and levels of innovation, the innovator's dilemma, and disruptive technologies. Learn about the advantages and disadvantages of sustaining and disruptive innovation and how new entrants can target overlooked segments to disrupt established markets. See if you understand the importance of understanding technology, customers, industry structure, and execution for successful innovation.
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