What is the firm’s innovation strategy, does it rely on incremental, radical, disruptive or architectural? What are the competitive implications of the firm’s innovation strategies?
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What is the firm’s innovation strategy, does it rely on incremental, radical, disruptive or architectural? What are the competitive implications of the firm’s innovation strategies?
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Solved in 4 steps
- How do we define technology and innovation, and how are they related?How can a firm ensure that the innovation strategy aligns with the broader strategic goals of an organization, and what techniques can a firm use to achieve this alignment?Explore the concept of "innovation ecosystems" in the context of business models. How do they facilitate innovation and value creation?
- Do you think one particular innovation strategy is better than the others or do you think businesses should change strategy periodically over time?How can an organization effectively manage the innovation process for product and service development to foster growth and competitive advantage?Describe what an innovation measurement system would focus on in your organization. Identify how you might use it to support your innovations.
- What strategies can organizations adopt to effectively manage the innovation process in product and service development, ensuring successful implementation and market adoption?Describe innovation strategy and discuss why it is required in a competitive market.Discuss the main challenges related to managing innovation.
- Discuss ....how can a firm ensure that the innovation strategy aligns with the broader strategic goals of an organization, and what techniques can a firm use to achieve this alignment?Conduct an innovation audit of your chosen organization and critically assess how innovation has impacted the organization over the past five years. Your innovation audit should be based on the organisation’s culture, agility, resources and skills.Distinguish four different roles that CEOs can adopt regarding innovation.