Business Strategy: Innovation and Entrepreneurship
Innovation Strategy
In this section, you will use the environment of the firm you have selected for the strategy term project and the firm's susceptibility to technological disruptions for new entrants. You can choose one of the firms that have high popularity such as Google, etc
- Where is your firm's industry on the life cycle as shown in Exhibit 7.4? What are the strategic implications?
- What is the firm's innovation strategy? Does it rely on incremental or radical innovations? Disruptive or architectural? What are the competitive implications of the firm's innovation strategies?
- Are intellectual property rights important for your firm? Can you find what strategies the firm is implementing to protect its proprietary position? Identify a recent innovation by your firm. What is your firm's strategy to cross the chasm(s) to achieve mass market adoption of its innovation?
- What attributes describe the current major customer segment for your firm? Are these changing? If so, is your firm prepared to meet these new customer demands?
- How does your firm organize for innovation? Does it use a closed or an open innovation approach? Is its current approach working out well, or does it need changing? If yes, how?