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Innovation Notes - Review for Spring Break

by: Anna Notetaker

Innovation Notes - Review for Spring Break 3620

Marketplace > Middle Tennessee State University > 3620 > Innovation Notes Review for Spring Break
Anna Notetaker
GPA 3.62

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About this Document

Our review consisted of discussion of innovation with vehicles and cell phones over the years.
Management of Innovation
Prof. Kimball Bullington
Class Notes
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This 2 page Class Notes was uploaded by Anna Notetaker on Saturday March 5, 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 7 views.

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Date Created: 03/05/16
Innovation Notes  An example of innovation is when Toyota developed the Prius Hybrid. I viewed this as 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 competency-enhancing innovation because it soon gave other car company 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 goes back and forth with the energy motor to create the best gas mileage as well as eco-friendly.  All in all, the Prius Hybrid was the first of its kind. It made itself a stepping stone for other car companies/models to match in innovation. Now, Honda has created the Honda Insight Hybrid, which is modeled after the Toyota Prius Hybrid.  An example of hiring a product to do a job would be our cell phones. It allows us to keep our life on trach, every essential aspect – work, school, relationships, etc.  Now we are seeing even more new technology to accommodate our lives such as health and fitness apps.  Phones are basically computers that is being used now for so much more than calls, thus giving us the incredible machines we use today.  Iphones are a radical innovation since it was the unforeseen combination of many different/separate items, phones, computers, cameras, map, etc.  Now we have incrimination in the smartphone market, where we see minor changes every year. Just last night, I saw an ad for the new Samsung phone that has slightly improved.  Both the rate of Technology performant improvement and the rate at which technology is adopted in the marketplace repeatedly to conform an S-Shape Curve.  Collaborative research is especially important in high technology sectors, where it is unlikely that a single individual or organization will possess. All of the resources and capabilities are necessary to develop and implement a significant innovation.  Creativity is the underlying process for innovation. Firms collaborate with customers by leveraging resources and capabilities across multiple individuals. They nurture the development of new businesses that would otherwise lack technology advice, collaboration, and funding, which would result in market failure.


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