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18 Cards in this Set
- Front
- Back
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Innovation |
The commercialization of any new product, process, or idea, or the modification and recombination of existing ones. The drive growth, innovation also needs to be useful and successfully implemented.
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Industry Life Cycle |
The four different stages - introduction, growth, maturity and decline that ooccue in the evolution of an industry over time.
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Network Effects |
The positive effect that one user of a product or service has on the value of that product for other users. |
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Standard |
An agreed-upon solution about a common set of engineering features and design choices; also known as dominant design |
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Product Innovations |
New products such as the jet airplane, electric vehicle, MP3 player, and netbook |
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Process Innovations |
New wazys to produce existing products or deliver existing services. |
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Entrepreneurship |
The process by which people undertake economic risk to innovate to create new products, processes, and sometimes new organizations |
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Strategic Entrepreneurship |
The pursuit of innovation using the tools and concepts available in strategic manangement |
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Incremental Innovation |
An innovation that squarely builds on the firms establoshed knowledge base, streadily improves the product or service it offers, and targets existing markets by using existing technology.
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Radical Innovation |
An innovation that draws on novel methods or materials, is derived from either an entirely different knowledge base or from the recombination of the firm's existing knowledge base with a new stream of knowledge, or targets new markets by using new technologies. |
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Architectural Innovation |
A new product in which known components, based on existing technologies, are reconfigured in a novel way to attack new markets. |
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Disruptive Innovation |
An innovation that leverages new technologies to attack exisiting markets from the bottom up. |
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Long tail |
Business model in which companies can obtain a large part of their revenues by selling a small number of units from among almost unlimited choices. |
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Thin markets |
A situation in which transactions are likely not to take a place because there are only a few buyers and sellers , who have difficulty finding each other |
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Discontinuities |
Periods of time in which the underlying technological standard changes |
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Paradigm Shift |
A situation in which a new technology revolutionizes an existing industry and eventually establioshes itself as the new standard. |
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Absorptive Capacity |
A firms ability to understand, evaluate and integrate external technology developments |
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Hypercompetition |
A situation in which competitive intensity has increased and periods of competitive advantage have shortened, especially in newer, technolody-based industries, making any competitive advantage a string of short-lived advantages. |
