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This 2 page Class Notes was uploaded by Anna Notetaker on Sunday April 17, 2016. The Class Notes belongs to 3620 at Middle Tennessee State University taught by Prof. Kimball Bullington in Spring 2016. Since its upload, it has received 6 views.
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Date Created: 04/17/16
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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