Competitive Strategy and Competitive Advantages Essay

1- Innovation is important because it allows differentiation from competitors, manufacturing is easier and more flexible, the bar for competition is raised, and there is corkinger market place segmentation.2- Some advantages of technological foot argon a wider range of carrefours and function coffin nail be delivered to mickle, GDP has increased, people underside communicate in every part of the world, the production of food has go away more efficient, and it has yield medical treatments to improve medical conditions. The quality of life story has improved. It has created stark naked knowledge to solve practical problems.Disadvantages implicate harmful contamination to surrounding communities, erosion from fishing and agricultural technologies, elimination of natural habitats, genetic modification, and antibiotic resistant strains of bacteria.3- Many innovations projects fail to generate an economic depict because it features a long time to research and develop the innovation. Once this product comes out on the market, it has already become obsolete because a natural engineering is already being researched as applied science is constantly changing. Also, ready strategies ar not developed by a pixilated and misfortunate management of the innovation occurs.Chpt 2 Sources of Innovation1(a) Advantages of individuals as innovators deep cause of their unmet needs and the incentive to find ways to fulfill them, users use up no initial intention to salary from their inventions, new industries tail end be created. A injury include lack of entrepreneurial traits.1(b) Advantages of firms as innovators include alliances with stakeholders, absorptive capacity is built via the firms in-house R&D. A disadvantage is when firms collaborate with complementors, the firms produce a range of goods and the line between the firm and the complementors becomes blurred.1(c) Advantages of universities staff is encouraged to engage in research that may su rvive to innovations. If an invention is tapd, the income is shared with the individual spotter. The disadvantage to this is the university has the sole discretion to commercialize the invention and not the inventor.1(d) Advantages of government institutions as innovators include the government grants in advance(p) small businesses funding, it develops science parks and incubators. The disadvantage to this is, since the government support so oft R&D and funds firms, the government spends less bullion on R&D as the years passes.1(e) Non profit organizations execute their own research and development activities and also fund the development efforts of separates.2- Traits include unconventional thinking, analytic skills, articulation of ideas, self- efficacy, tolerance for ambiguity, and a willingness to to overcome obstacles and take reasonable risks. These traits do not necessarily lead to successful inventions because the inventor may know too little or too much about the fiel d. Also, at times the inventor may not set out enough support to think creatively.3- Firms roll in the hay look at where individuals occupy worked before and what they have invented/created. Their past background can indicate they have potential to be more creative.4- If a firms culture, structure, routines, etc supports creativity, therefore it can perchance encourage creativity in individuals. These things can renovate an individual to be creative because they are being supported by their employer. Google supports creativity the firm allows employees to have their own creative workspaces and also gives them the employees great independence. This inspires creativity.5- Collaborative research develops relationships and networks where people can share information, resources, and ideas to develop something that is innovative. Results can be achieved better this way rather than individually.Chpt 3- Types and Patterns of Innovation1- Some reasons are R&D costs can be very high, th e innovation can probably take years to develop, applied science performance can decrease fast depending on how much effort was put into it, the new technology is threatened by discontinuous technologies, the market for the technology is not large enough, people are unwilling to adopt to the new technology, the technology does not fit in with the firms current abilities, and products and services relating to the new technology may be unreliable and/or expensive.2- headspring developed firms are likely to adopt to new technologies instead of developing them because new technologies does not have a dominant design. Established firms are very familiar with the dominant design and do not essay with new technologies. Instead, the established firms focuses on new knowledge/ accord of living technologies. It tries to improve products and make production more efficient. New entrants are bore to experiment with new technologies because they are introducing something new into the market they can perhaps pee-pee on that to develop market share.3- The invention of a laptop with Internet is a radical innovation. It is portable, users can access internet on the go without wires, and work can be done from anywhere. The laptop is competence enhancing as it has built the way for other technologies (e.g. tablets).4- S-Curve technology improvement in the early stages, the technology is not under leap out and effort is put into understanding the technology, when the understanding of the technology is better, improvements are accelerated. The technology begins to gain legitimacy, more improvements are made and the performance begins to increase rapidly. When the limits if the technology is reached, diminishing returns is seen.S-Curve technology scattering the adoption of a new technology is wispy initially because people are unfamiliar with it. As the technology is better understood, it is utilized by the mass market. When the market has become saturated, the rate if n ew adoptions declines.5- Customers are slow to adopt new technologies if there is no trend or beg in the market technology changes everyday, thus improvements are faster and customers may or may no know about technological trends. If a firm develops a technology beyond the current state of the market need, it has a high competitive advantage, considered innovative ( the firm can build on this) and profit can be made. However, if there is no quest for this technology and the firm cannot penetrate the market, the firms costs can become very high and it will lose profit.6- Short technology cycles IT, software, social networking, engineering, food, music Long technology cycles medical, auto, energy, finance, Factors customer needs, demand, competition, markets, R&D, government, lawsChpt 4- Standards Battles and rule Dominance1- Sources learning effects- the more a technology is used, the better it is understood and the more efficient and effective it becomes. Performance is increased and costs are reduced because of these factors. Network externalities- the value/benefit of a good increases because other users in large numbers utilize this particular good.2- Industries with increasing returns to adoption Internet software/services, e-commerce, banking, security systems, social networking3- Increase R&D research, patents, market the properly, hire the best and the brightest from all over the world, increase the manufacture standard and absorptive capacity, develop more complementary technologies.4- Network externalities and the stand alone functionality5- Consumers yes they can rely on one firm for the technology because the standard is high and the product is good Competitor no they do not have the market share, customers, or profit Complementors yes more profit and customers