Other+working+things

Its the innovation strategy that is the ultimate focus of the class, but you can use a specific technology or innovation to ground your discussion and show it as a case study in the broader strategy.

is not about the technological innovation (itself) as much as its strategic management. Researching how things hold dust or create cyclones shouldn't really be as much the focus as the management, marketing, distribution, etc., of the product with in its industry.

Chapter One Technological Innovation – the act of introducting a new device or method or material for application to commercial or pratical objectives Important driver of competitive success Importnatce of innovation due to    Introducing new products helps firms protect their margins but investing in process innovation lowers cost Complemtors Abosptive captacity – ability of a fir to undersad and use new infromtion Complex and tacitic knowleg Agglomeration economies – the benefits firms reap by locatiin in close geographical proximity to each other Techngoloial spiloover – a positive externation from ra nd d resulting fromt the spread of knowledge acrosso rganizaiton boundarises Knwldge brokers Technology trajectory – the path a technology takes through its lifetime Radical vs incremental innovation Competence enhancing g – enhancing a perspective of a particular firm if it builds on the firms existing knwoelge Componenet- changina a component of ths ystem vs architectural innovation – changing overall design Technology diffusion = spread of technology through a population – research s – curves What is creative destruction Fluid phase -> dominat deisgn à specific design So fist theres that uncettainnity about both technolgya nd market and then for specific design – you know all specifi produycts proesses that are need for the dominant design. Dominant design Chapter Six A Coherent technological innovation strategy leverages the firm’s existing competitive postivion and provides direction for future development fro the firm. External Analysis  1) Porter’s Five Model    2) Stakeholders Analysis Internal Analysis  1) Strengths and weakenses – To be a souce of sustainable competive advantage, resourcse must be Rare, Valuable, Durable and Inmitable - a positive brand image can be rare and valuable resource, butit requires ongoing investment to sustain it or else it will erode   Casually ambiguous – the relationship between a resource and the outcome it produces is poorly understood   What are the company’s core competencies? – abilities that distignusih the firm – makes it hard for comeptitors to compete – is it hard to duplicate – usually company six -7   Dynamic capabilities – are competencies that enable the firm to quickly respond to change, emerging markets and major technological discontinuities – for example: firm may devlop a set of abilities that enable it to rapidly deploy new product development teams for a new opportunitiy; firm may develop competency in working with a lliance partners togain needed resources quickly Strategic intent – long term goal that builds firms core competiencies - looking years ahead and settin muleteoons – this way firms follow customer not leading them Defn : purpouse is to create value not just by cutting costs but byud eveloping new businesses and leverageing corprotate resources Norton and Kaplan mention a very useful resource called the balanced scorecard : Financial, customer, internal and innovation and learning perspective ** 1)  ****  Brand loyaly and technological leadership – build a reputation as a leader   **  **  2)  ****  Repatin increasing returns advantges –   ** There a failure rate to this – earn good revenues but lower profits becaue of the high r& D expenses, development of distriubiton channelass and costs that they incur - late entratns hasve the advantage to improve groundwork done by first wmover and improve it with incurring less expenses You also don’t know what the customers want – uncertainigny of customer requirements IN ESSENCE, a firm with very fast cycle development process can reap both first and second mover advantages 4  As a technology becomes more widely adopeted, complemtnary assets are often developed that are specilaize to operate with the technolgoyu Technolgoy stand alone value – includes factors such its easer of use, qualities, functions the technology enables customers to perform Buyer ultity map – provides managers to consider multiple dimesions of technological value and multiple stages of the customer experience - The benefit to cost ratio determines values Networkexternality value Muiple dimesnions of values – objective information: actual benefits – subjectivei nfromation : perceived benefits.. expecations: anticpated benfits
 * Timing **
 * Are they first mover –  **
 * Advtanges:  **

-- Thanks, Niwaz Mann ( __ niwaz.mann@utoronto.ca __ )