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9 Cards in this Set
- Front
- Back
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Define innovation |
Innovation is the commercialization of an invention |
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What is innovation's role in the competitive process? |
Continuous innovation is the engine behind successful companies: it allows firms to redefine the marketplace in their favor |
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Describe the competitive implications of different stages in the industry live cycle? |
Innovations frequently lead to new industries, follow a predictable life cycle: introduction, growth, maturity, and decline |
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What are the 4 types of innovation? |
Incremental, radical, disruptive, architectural |
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What is the Innovation Type matrix? |
Technologies x Markets, New/Existing |
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Describe the long-tail concept |
Selling many many products but selling only a few of each, rather than selling a few products in high volume |
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What is the strategic implication of the long-tail concept? |
The internet disrupts any industry that can be digitized, enabling long-tail concepts |
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Define discontinuities |
The gap between a mature technology's peak performance and a nascent technology's introduction performance |
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Identify the process leading to hypercompetition |
Continuous innovation shortens lifecycles and the length of competitive advantage, necessitating new innovations to regain competitive advantage |
