ution innovation different from stage- oment?
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- Explain the difference between the two types of innovation relating to scope: ‘component’ and ‘system’ innovation.Discuss what are the four main types of innovation and their similarity and difference with each other. the 4 main types of innovation are Product, Process, Marketing, and OrganisationalDiscuss at least 5-6 points on the advantages of innovation management.
- Discuss the importance of research and development in innovation management and/or new product development.What are the five Cs of managing innovation, and how do they help direct a firms innovation activities?Often, innovation involves approaching an existing idea or product from a new perspective to improve it. Explain the four (4) different types of innovation that you study this semester? Explain your answers.
- Louw and Venter (2019) refer to various seminal theories of innovations, including the technology S-curve and disruptive innovation. Elaborate on the aspects of the technology S-curve and disruptive innovation theory in the context of strategic managementWhat is innovation? What are different types of innovation? Explain with real life examples from your own daily routine life.Gray Electric is a company with a long tradition of innovation. In 1973, they invented the world's first cellular phone and spent many years trying to understand how this new technology would impact their existing business. Gray Electric was in a position to become the first company in the world to develop and market a cell phone, but the upper management of Gray Electric had become complacent with making corded phones and could not imagine a world without landline phones. Because they had been the industry leader for decades and had faced very little competition along the way, the culture of Gray Electric had become rule-oriented and placed a high value on stability. Upper management decided that producing cell phones would only hurt their landline phone sales and quickly abandoned their cell phone endeavour. In 1987, they realized what a bad mistake they had made. Sales of their landline phones were decreasing drastically every year, and Gray Electric was losing money and cutting…