24205 Lecture Notes - Lecture 5: Kodak, Problem Solving, Fee Tail
Document Summary
New market/industry = extraordinary ideas, based on unarticulated needs (e. g. Changing basis of competition = break through research, finding new uses for a commoditised product (e. g. post it flags) Line extension = common occurrence, can sometimes lose focus on core product which is a major problem: operational innovation. Invention and deployment of new ways of doing work. E. g. improving ordering system (powerful, greater market share) Reducing process time (speed to market - operation innovation: realisation strategy (npd) New offering realisation = process of developing new core products or services, augmenting them to construct marketing offerings & bringing them to the market. How we manage our existing and new products. Can be augmented in terms of payment and customer service. Realisation strategy = coordinates, priorities & guides realisation efforts. New offering realisation has potential to provide significant outcomes. Strengthens firms market position: improves the firms resource utilisation, can be a vehicle for organisational enhancement and renewal.
