ManagementStrategy
P12616
INNOVATIONANDENTREPRENEURSHIP
Learninges(1)Identifyandrespondtokeyinnovationdilemmas,suchastherelativeemphasestoplaceontechnologiesormarkets,productorprocessinnovationsandthebroadbusinessmodel.Anticipateandtosomeextentinfluencethediffusion(orspread)ofinnovations.
Learninges(2)Decidewhenbeingafirst-moverorfollowerismostappropriateininnovation,andhowanincumbentorganisationshouldrespondtoinnovativechallengers.Anticipatekeyissuesfacingentrepreneursastheygothroughthestagesofgrowth,fromstart-uptoexit.Evaluateopportunitiesandchoicesfacingsocialentrepreneursastheycreatenewventurestoaddresssocialproblems
Theinnovation–entrepreneurshipframeworkTheinnovation–entrepreneurshipframework
Innovation Innovationinvolvestheconversionofnewknowledgeintoanewproduct,processorserviceandtheplacingofthisnewproduct,processorserviceintocommercialuse.
Innovationdilemmas(1)Technologypushormarketpull:Technologypushistheviewthatitisthenewknowledgecreatedbytechnologistsorscientiststhatpushestheinnovationprocess.Marketpullistheviewthatitisthepullofusersinthemarketthatisresponsibleforinnovation.‘Leadusers’areofparticularimportance.
ProductandprocessinnovationProductandprocessinnovationSource:AdaptedfromJ.AbernathyandW.Utterback,‘Adynamicmodelofprocessandproductinnovation’,Omega,vol.3,no.6(1975),pp.142–60
Implicationsofproduct/
processinnovationmodelNewdevelopingindustriesfavourproductinnovation.Maturingindustriesfavourprocessinnovation.Smallnewentrantshavegreatestopportunitiesinearlystagesofanindustry.Largeincumbentfirmshaveadvantageinlaterstages.
Innovationdilemmas(2)Productorprocessinnovation:Productinnovationrelatestothefinalproduct(orservice)tobesold,especiallywithregardtoitsfeatures.Processinnovationrela
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