1. 20/10/11 Lecture 4

2. http://www.ted.com/talks/lang/eng/simon_sinek_how_g reat_leaders_inspire_action.html

3. Invention or Innovation Invention is the formulation of new ideas for products or processes Innovation is all about the practical application of new inventions into marketable products or services These concepts straddle the line between conceptualization and actualization Invention constitutes the initial creation of a new product, technique or practice, while innovation represents the practical fulfilment of one or (as often is the case) multiple products, techniques and/or practices.

4. Latest Apple Products

5. Apple Articles http://mybroadband.co.za/news/business/15961-Steve-Jobs- the-state-Apple.html http://mybroadband.co.za/news/business/15961-Steve-Jobs- the-state-Apple.html http://www.bbc.co.uk/news/business-11570631 http://www.bbc.co.uk/news/technology-11521742 http://www.appleinsider.com/articles/10/03/01/apple_ipad_p roduction_hit_by_manufacturing_bottleneck_report.html http://www.appleinsider.com/articles/10/03/01/apple_ipad_p roduction_hit_by_manufacturing_bottleneck_report.html http://theappleblog.com/2010/09/03/apple-doubles-ipad- production-may-triple-soon/ http://theappleblog.com/2010/09/03/apple-doubles-ipad- production-may-triple-soon/

6. Apple Case – Key Themes: Dealing with the changing structure of an evolving industry Achieving sustainable competitive advantage Accurately timing strategic moves Using innovation to create competitive advantage

7. Broader Comments Differentiate between product advantage and competitive advantage Focus ‘too insular’ at one time Multiple standards may co-exist when there’s a big gap between them Companies must pay careful attention to timing and windows of opportunity

8. The PC Market 19862006 Who are the buyers?Managers buying a couple of PCs Everyone What were they like?UnsophisticatedDemanding - sophisticated What did they want?Brand, reliability - IBMPerformance including reliability Price focussed SummaryGreat Customers – Weak, fragmented willingness to pay high price Difficult, powerful customers – know what they want and do not want to pay a high price