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Canada (162,403)
BUS 478 (20)
Chapter 12

Chapter 12 Technology-based Industries and the Management of Innovation

2 Pages

Business Administration
Course Code
BUS 478
Pek- Hooi Soh

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Chapter 12 Technologybased Industries and the Management of InnovationCompetitive Advantage in Technologyintensive IndustriesInnovation Process y Inventioncreation of new productsprocesses through the development of new knowledge or combinations of existing knowledge y Innovation is the initial commercialization of invention by producingmarketing the new goodservice or using a new method of productioncombination y See Fig 121 y Not all inventions become innovationsProfitability of Innovation y No guarantee that innovation will lead to profits y Who gets the benefits Customers innovator imitators suppliers see Fig 122 y Proportion appropriated by innovator depends on the regime of appropriability y Four factors o Property rights patents copyrights trademarks trade secrets etc o Tacitness and complexity of technology how easy to understandreplicate o Lead time time for followers to catch upTry use initial lead time to build capabilitiesmarket position and entrench industry leadership move
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