ADMS 3930 Chapter Notes -Social Capital
17 Jul 2013
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Degree of innovativeness, which falls on a continuum that extends from incremental to radical: radical innovations: Evoke major departures from existing practices; breakthrough innovations. Highly disruptive; can transform company or revolutionize industry. Lead to products or services that can be patented competitive advantage: incremental innovations: Enhance existing practices or make small improvements in products and processes. Sustaining versus disruptive innovations: sustaining innovations: extend sales in an existing market, usually by enabling new products or services to be sold at higher margins. May include incremental or radical innovations: disruptive innovations: overturn markets by providing an altogether new approach to meeting customer needs. Are technologically simpler and less sophisticated than currently available products or services. Appeal to less demanding customers who are seeking more convenient, less expensive solutions. Take time to take effect and only become disruptive once they have taken root in a new market or low-end part of an existing market.
