Popular in Course
verified elite notetaker
Popular in Business
This 1 page Document was uploaded by an elite notetaker on Saturday December 19, 2015. The Document belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 7 views.
Reviews for Innovation-And-Competitive-Advantage
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 12/19/15
Innovation And Competitive Advantage Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation. There are other useful definitions in this field, for example, creativity can be defined as consisting of a number of ideas, a number of diverse ideas and a number of novel ideas. There are distinct processes that enhance problem identification and idea generation and, similarly, distinct processes that enhance idea selection, development and commercialisation. Whilst there is no sure fire route to commercial success, these processes improve the probability that good ideas will be generated and selected and that investment in developing and commercialising those ideas will not be wasted. Innovation and Competitive Advantage Creativity and Innovation are intricately linked to competitive advantage: a)There is a positive correlation between new products and market share. This is best explained by examining what would happen if firms didn't introduce new products - Microsoft would almost certainly have lost its dominance if it hadn't improved on Windows 95. b)Firms have to introduce new products as life cycles decrease - the average life span of a mobile phone is less than a year. c)Competitors force the introduction of new products - if Nokia didn't introduce new mobile phones every year then Motorola or Siemens would. d)Macro changes push innovation - China's entry into the WTO meant that Western firms would face competitions of scale and scope. These and other topics are covered in depth in the MBA dissertation on Managing Creativity & Innovation, which can be purchased (along with an Innovation Bible, Creativity and Innovation DIY Audit, Good Idea Generator Software and Power Point Presentation) from http://www.managing- creativity.com/ You can also receive a regular, free newsletter by entering your email address at this site. Kal Bishop, MBA ********************************** You are free to reproduce this article as long as no changes are made and the author's name and site URL are retained. Lead Generating Software Video Demo
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'