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Lecture

Session 4'.doc

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Department
Administrative Studies
Course
ADMS 1000
Professor
Peter Tsasis
Semester
Summer

Description
Chapter 3, 4 (Pages 43-56 & 65-70) Case p63-64 Chapter 3 43-56 Industry Lifecycle: -introduction, growth, maturity and decline -De jure standard: a standard demanded by law -De facto standard: a standard set by common usage -Shakeout: exits of a large number of firms from the market -Decline is because of 1) Changes in demographics, 2) shifting consumer preferences 3) Technological substitution Organizations Options: 1) Maintain leadership Stance: firm continues to invest hoping others will soon exit the market 2) Pursue a Niche strategy: firms find a specific segment that may not decline as fast and take competitive advantage over that 3) Harvest Profits: firms squeeze as must profit as possible by reducing the costs 4) Exit early: firms cut their loses and recover some investment 5) Consolidate/Accusation: firms buy the remaining firms at a reasonable price in the industry Chapter 4 65-70 Types of Innovation -Technological discontinuities: creation of entirely new industries (car, phone, engine, camera) -Radical Innovations: new knowledge that is a major departure from existing practices (propeller to jet engine, camera to digital camera) -Incremental innovations: minor changes or adjustments to present things (retina display, faster processor) - Changes to the components are called modular innovations (aluminum t
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