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Study Guide for Exam 1

by: Anna Notetaker

Study Guide for Exam 1 3620

Marketplace > Middle Tennessee State University > 3620 > Study Guide for Exam 1
Anna Notetaker
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About this Document

This consists of the answers from reviewed quizzes, notes from the chapters, and a detailed summary of the Innovation Funnel Process
Management of Innovation
Prof. Kimball Bullington
Study Guide
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This 2 page Study Guide was uploaded by Anna Notetaker on Sunday February 28, 2016. The Study Guide belongs to 3620 at Middle Tennessee State University taught by Prof. Kimball Bullington in Spring 2016. Since its upload, it has received 37 views.


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Date Created: 02/28/16
Innovation Study Guide Exam 1  Industries evaluate an organization’s success in innovation by looking over the  percentages of the sales of products introduced in the last five years. Industries evaluate  the weakness of this measure by skewing the percentages of these sales. An example of innovation that characterized the dimensions of innovations:  Toyota made an innovative step with the development of the Prius Hybrid. It is a product  innovation since this is an output for the company. The Prius Hybrid is a radical  innovation because it was very new and different when it first hit the streets.   It was a competence­enhancing innovation because it soon gave other car companies, the  want and desire to make vehicles that were perfect for commuters, gas saving, and eco­ friendly.   It was architectural as an innovation because it brought in a whole new design. The car  was made with an engine that would automatically switch back and forth with the energy  motor to create the best gas mileage as well as allowing the vehicle to be eco­friendly.   All in all, the Prius Hybrid was the first of its kind. It made itself a stepping stone for  other car companies and models to match in innovation. Honda has taken the design of  Toyota and has created the Honda Insight Hybrid, which is the same design and model of the Prius Hybrid.   A disadvantage to Technological innovation is pollution, resource depletion, and  unintended consequences of Technology Changes.   The innovation process makes a funnel with many potential new product ideas going  from large to small in the development process.  o 3000 Ideas ­> 300 Submissions ­> 125 Small Projects ­> 4 Major Developments  ­> 2 Launches ­> 1 Product  Successful innovation requires in­depth understanding of dynamics of innovation, a well­ craft innovation strategy, and a well development process to implementation.   For example, you start out as an innovative group with 3,000 ideas, but only 300 is  submitted in the end from the group. Out of these 300, 125 small projects are made to test out the product. After testing, 4 major developments are chosen and they are once again  ran through to find the pros and cons to the product. Out of these 4, 2 will be launched to  see which one is favored. When one is chosen, this is the product that the company would use.   Reasons of Technology Improvement and Technology Diffusions creating an S­Shape Curve: o The rate of Technology performance improvement and the rate at which Technology is  adopted in the marketplace is repeatedly done to conform an S­Shape Curve. As you gain a deeper understanding of Technology, your improvements will accelerate, but at some  point it begins to diminish.  o Technology Performance and Technology diffusion are related since improvements will  foster a faster adoption and the adoption may motivate investment, which will improve  performance. As performance increases as well as effort, the technology gets closer to the limitation. It soon lags and eventually creates an S Shape Curve. 


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