MGMT-UB 1 Lecture Notes - Lecture 7: Cheese Shop Sketch, Kroger, Competitive Advantage
11 May 2016
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Document Summary
Recombinant view of innovation - if we backward engineer novel ideas, we find existing ideas. The novel combination comes from combining previously unconnected ideas. We can innovate by combining and recombining ideas. Rewarding for innovation - on the folly of rewarding a while hoping for b. connects to culture. Creativity = the ability to form new concepts using existing knowledge. Innovation = the realization of novel and useful ideas (i. e. creative ideas) in the form of products and services. They"re people who can take an idea that"s obvious in one context and apply it in not-so-obvious ways to a different context. The best companies have learnt how to systemize that process. In business, the belief is that without a constant flow of ideas, a business is condemned to obsolescence. The best innovators have systematized the generation of new ideas. Has very little to do with nurturing solitary genius. Using old ideas as the raw materials for new ideas.
