Innovation Your Innovation Strategy and Being Innovative

Being Innovate and Still Die

Innovation Dilemmas Type of Innovation to Pursue Technology Push or Market Pull TP is the view that it is the new knowledge created by technologists or scientists that pushes the innovation process MP is the view that it is the pull of users in the market that is responsible for innovation. ‘Lead users’ are of particular importance. Frugal innovation’ (e.g. Tata’s Nano car). Type of Innovation to Pursue Product Process Service Network Open or Closed Innovation Traditional view: company controlled all activities involved in the creation of new technology and products Open Innovation Harnessing external sources of innovation; Co-innovation Technological or Business Model Innovation Dilemmas

Being an Innovation Leader vs Follower Some contextual factors in choosing between innovating (leader) and imitating (follower): Capacity for profit capture Complementary assets Follower First Mover Advantages Experience Curve Buyer Switching Costs Scale Benefits Reputation Capability for Quick Imitation & Learning Free Riding

Innovation Diffusion S-Curve