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Samenvatting Business Innovation (300321-B-6)
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I made a summary regarding the whole first year of Fundamentals of Business Innovation
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1. The core process involves four steps:- Recognizing opportunities
- Finding recourses
- Developing the venture
- Capturing value
Incremental innovation: doing what we do better
Radical innovation: new to the world
Component level innovation: improvements to components new components for existing systems
System level innovation: innovation like new versions of a car, airplane, or tv or new generations
2. At the heart of an innovation strategy are three core questions:
- Analysis – what could we do?
- Selection – what are we going to do (and why)?
- Implementation – how are we going to do it?
Innovation strategy is about building the capability to work in a complex and changing environment.
Dynamic capability involves working with the organization’s paths, processes and positions. Three
key components of a dynamic capability innovation strategy:
- Competitive and national positions
- Technological paths
- Organizational and managerial processes
3. Resource-based view: competitive advantage driven by a firm’s valuable, rare, inimitable and non-
substitutable recourses. Heterogeneous, (not)
tangible.
Identifying capabilities:
- Identifying key attributes most successful
products/services.
- Mapping them to the resources/competencies
- Assessing potential for sustaining, protecting and exploiting these resources, including knowledge
management.
sustainable competitive advantage:
1. consistent difference in important attributes between the attributes offered by competitors.
2. This difference is the direct consequence of a capability gap between the producer and its
competitors.
3. Difference in important attributes/capability gap can be expected to endure over time.
Capabilities:
Regulatory: legal entities; Positional: not legal entities, result of endeavour; Positional: skills; Cultural:
characteristics of the organization.
factors to defend their innovative lead:
1. Secrecy 4. The learning curve 7. Standards
2. Accumulated tacit knowledge 5. Complementary assets 8. Pioneering radical new products
3. Lead times and after-sales service 6. Product complexity 9. Strength of patent protection
, 4. Components of an innovative organization:
1. Shared vision, leadership and the will to innovate 5. High-involvement innovation
2. Appropriate structure 6. Creative climate
3. Key individuals 7. External focus
4. Effective team working
characteristics that make a leader effective:
- Bright, alert and intelligent - Administratively and socially competent
- Seek responsibility and take charge - Energetic, active and resilient
- Skillful in their task domain - Good communicators
Leadership clarity is associated with:
- Clear team objectives - Commitment to excellence
- High levels of participation - Support for innovation
Six factors leaders should focus on:
- The rewarding of innovative behavior
- When forming teams use some heterogeneity to promote innovation
- Promoting a team climate of emotional safety, respect and joy
- The autonomy of individuals and teams for idea generation/creative problem-solving
- Setting time limits for idea creation and problem solutions
- Engage in the evaluation of innovative activities
Groups: individuals with nothing in common, Teams: characterized by a common vision
effective high-performance team working:
-clearly defined tasks/objects - conflict resolution mechanisms
-effective team leadership - bond with external organizations
-balance of teamroles
1. Forming 2. Storming 3. Norming 4. Performing
Characteristics that promote effective teamwork:
- Good goal - Collaborative - Appropriate use of the team
- Results-driven - Standards of excellence - Participation in decision-making
- Competent team - External support/recognition - Team spirit
- Commitment - Principled leadership - Embracing change
Negative impact team:
- Groups versus team: not treating a team as a real team
- Ends versus means: over-managing a team
- Structured freedom: not setting any limits for freedom, authority, autonomy etc.
- Support structures and systems: not providing enough support
- Assumed competence: not offering any coaching for necessary skills
Climate: patterns of behavior/attitudes/feelings that characterize life in the organization.
Culture: the deeper and more enduring values, norms and beliefs within the organization.
6 factors that influence innovation/entrepreneurship:
- Trust and openness - Conflict and debate
- Challenge and involvement - Risk-taking
- Support and space for innovation - Freedom
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