Technological Innovation: Classification, Importance, Management and User-Led Innovation, Prove d'esame di Management Theory

Scarica Technological Innovation: Classification, Importance, Management and User-Led Innovation e più Prove d'esame in PDF di Management Theory solo su Docsity! Risposte MOT 1) What is a technological innovation? A technological innovation is a renew or change of something, which is applied and has some benefits. The elements of a technological innovation are the newness; the ideation; the application and the benefits. A technological innovation could be classified as a product innovation if it is a new good or service or if it is an improve of them; as a process innovation if it is a new method of production or new way of delivery; as a marketing innovation if it involves changes in product design, packaging or product placement; as a social innovation if it is a new approach to addressing social issues. An innovation as a rate, a direction (continuous or discontinuous), a velocity and a magnitude how big is the difference and if it’s incremental or radical. To make an example of continuous innovation think about the xbox series: It goes trough xbox360 to xbox1. A discontinuous innovation could be the xbox company who made the wii console instead of a new xbox version. 2) Why is technological innovation so important to firm success? It is important because it is one of main drivers for competitive success. An innovation could increase the production by economies of scale. Since every product has a life cycle, a firm that can constantly offer innovation to the market, has definitely some advantages 3) How does technological innovation affect society, both positively and negatively? From the positively point of view innovation could give a more efficient food production, new medical technologies, better transport it could increase economic growth by producing the same with less input or by producing more with the same factor input, it could support the ecological or social sustainability by producing product and services in a different and more efficient way. Increase economic growth Get products with better hit to customer needs Increase productivity Support ecological and social sustainability 4) Why is innovation management difficult? Development times to long Lack of coordination Risk averse culture Limited customer insights Week 2 5) What is the relationship between creativity, invention and innovation? Creativity is the ability to create something new and different, generation of ideas that are the first steps in the process. Innovation converts ideas into things that get adopted and used. Innovation is the implementation of creative ideas into some new device or process. It is the implementation of the creativity process that sum up and gives birth to innovative platform of lunch for industrial application. 6) How does ideas generate? - Ideas are generated through process like brainstorming, when individually shares ideas with the group and then discuss the ideas shared, or Scamper/vertical thinking. Scamper is an acronym for a useful list of active verbs that can be applied as stimuli to make you think differently about the problem. Substitute? Who ese, where else, or what else? Other ingredient, material, or approach. - Combine? Combine parts, units, ideas? - Adapt? How can this product be used as is) What other uses it could be adapted to? - Modify? Change the meaning, material, color, shape, odor, etc..? Magnify? Minify? - Put to other uses? How can you put the thing to different or other uses? - Eliminate? What can you eliminate? Remove something? - Rearrange? Interchange parts? Other patterns, layouts? The flip flop method, which is to reverse the challenge, instead of trying to understand what is better, what would you do to make it worse? This kind of process consent development of ideas 7) What makes an individual or organization creative? Week 3 8) Think of examples of competence enhancing innovation versus competence destroying innovation, and architectural innovation versus component innovation. Competence-enhancing innovations build on the firm’s existing knowledge base. Competence-destroying innovations renders a firm’s existing competencies obsolete • An example of competence enhancing may be done in the gaming environment. In fact, the drop of PS5 after selling PS4 and still having the PS4 on the market being sold and used by users it’s a perfect example of a competence enhancing innovation. PS5 generates some different service or function from PS4 but the core activity and structure that composes it are the same. Instead, a competence destroying innovation could be the MP3 digital format of files. It is a competence destroying since require different competences and technologies rather than the old instruments that were used to listen the music in the past. An example of architectural innovation may be the transition from high-wheel bicycle to safety bicycle. A component innovation entails changes to one or more components of a product system without significantly affecting the overall design. For example, adding gel-filled material to a bicycle seat. • A Component innovation or modular innovation entails changes to one or more components of a product system without significantly affecting the overall design. • An Architectural innovation entails changing the overall design of the system, or the way components interact and of course most architectural innovations require changes in the underlying components also 1) How do you recognize a disruptive innovation? The expression "Disruptive innovation" stands for all those innovations capable of revolutionizing the functioning of a market or industry by causing harm to large, pre-existing established companies. It refers to all those innovations capable of revolutionizing a pre-existing business model by redefining the boundaries of the competitive arena and disrupting the way consumers are used to using products and services.+ A few examples come from companies such as Spotify, Netflix, or Wikipedia, i.e., all companies that have revolutionized the functioning of a market and changed respectively the way people listen to music, watch movies, and do research 2) What are some of the reasons that both technology improvement and technology diffusion exhibit s-shaped curves? We can also think of Innovations as having a life cycle – an S curve, with infancy, growth, maturity and ultimately decay It goes through initial conception, to a development stage where different little problems are ironed out, usually with some significant market feedback, to maturity, where it is an accepted offering, and finally to end of life. Some innovations have very short life cycles Others have very long-life cycles. Each stage can take different lengths of time • Contextual ambidexterity “the capacity to attain appropriate levels of exploitation and exploration behaviors in the same R&D organizational unit” WEEK 9 10) What are some trade-offs in chasing a team’s size and level of diversity? A team may range from a few members to hundreds. Bigger is not always better because large teams create more administrative costs and communication problem. Firms must deal with organising the workforce. It usually comes to deciding team’s size or diversity of the employers of each team. Bigger teams have probably a heterogeneous composition, but it could tend to be managed with some difficulties by administrator with probably too much burocracy to deal with. An advantage could be spillover effect of competences. Smaller teams are known for being flexible and rapid because they could be easily coordinated and, consequently, able to deal with demands of the market with a great rapidity. However smaller teams could lack of resources and ability. 11) What are some of the advantages and disadvantages of co-location? Advantages of co-location could be an efficient placement of servers that doesn’t need to move with firm’s location because of the external hosting. It will keep your server safe and in good conditions. Disadvantages are surely costs and their volatility from time to time and the need to control servers remotely and probably far away from the firm’s location 12) Are there some type of projects for which virtual team are inappropriate? Virtual teams are inappropriate for projects such as radical or architectural innovations projects that require a great human interaction and a centralization of private information that shouldn’t be communicated for any reason to the public. Week 10 13) What is the difference between closed and open innovation? What are the risks of open innovation? The differences between closed and open innovation regard mostly what kind of resources and competences a firm has and how it gets them. Open innovations firms allow, through different means, external interactions with other resources. It could happen by selling or acquiring licences or by making joint venture activities with other companies, crowdsourcing, or user innovation. On the other hand, closed innovation firms focus on their own resources and point their activity to their specific previous market while open innovation firms could always get to a new and different market. Closed innovation firms aim to become the first in the market and became a leader of it. Value for open innovation is created through externalities and buying or selling intellectual properties and rather become the first one the market they will prefer to have a solid business model. Risk for open innovation firm came from sharing private and competitive information to the public and consequently to firm’s rival on the market. A delicate topic it’s even how to deal with intellectual properties. Firms should be able to discuss with their external collaborators about retribution. And the last risk it’s not being able to control these flours of resources and focus on the main goal of those collaborations WEEK 11 14) Why do users innovate? How should companies react to user innovators? User usually innovates for their own needs. They perceive a lack of something in the product or service used. Companies should embrace users’ innovation if recognised as a valuable and profitable change because if they don’t other companies could use the user innovation to develop a product that will probably be more competitive and appreciated by consumers. Why is Innovation important? 1. Increase economic growth 2. Get products with better hit to customer needs 3. Increase productivity 4. Support ecological and social sustainabilit Why is Innovation important? 1. Increase economic growth 2. Get products with better hit to customer needs 3. Increase productivity 4. Support ecological and social sustainabilit Why is Innovation importan