Adoption of innovation
17 important questions on Adoption of innovation
What are the 3 categories of innovation?
2. Incremental and radical innovations
3. Architectural and modular innovations
What are the different types of innovation?
2. Service innovation - non-tangible, concerns output of a company
3. Process innovation - how a firm conducts its activities
4. Business model innovation
What are the 4 types of innovation in the Henderson and Clark model?
- linkages between core concepts and components
- Core concepts
1. Incremental innovation - unchanged and reinforced
2. Modular innovation - unchanged and overturned (one component is overhauled)
3. Architectural innovation - reinforced and changed (smaller modules, etc.)
4. Radical innovation - changed and overturned
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What are the 3 main questions to keep in mind while innovating?
2. Do you have the right organisational structure in place to support the different forms of innovation
3. Do you have investments aligned to facilitate the development of the different types of innovation
What are incremental innovations?
What is architectural innovation?
What are radical innovations?
What are the main types of business structures?
2. Lightweight team (CEO, teams and 1 project manager that coordinates between the different departments)
3. Heavyweight team (CEO, teams and multiple coordinating project managers)
4. Autonomous team (PM works with delegates from teams)
What is innovation adoption?
What are the 5 stages in the innovation adoption life cycle?
2. Early adopters - are interested in the potential applications of the innovation, not in the technological aspects itself
3. Early majority - require practical proof of the use of the innovation to them
4. Late majority - require even more proof, want to buy the product from the company with the best support system around the product
5. Laggards - generally quite sceptical and want to assess the usefulness of the innovation for themselves
What is the chasm in the adoption life cycle?
Why doesn't everyone accept innovation at the same time?
What are the 3 types of innovation according to the innovation ambition matrix?
2. Adjacent - expand from existing business into "new to the company business" (allocate 20%)
3. Transformational - developing breakthroughs and inventing things for markets that don't exist yet (allocate 10%)
What are the 4 phases of the innovation adoption from the viewpoint of the company?
Low cost and highly focused, making them only interesting for certain groups of organisations
2. Localisation (low complexity and coordination, high degree of novelty) need a small number of users to create value
3. Substitution (high complexity and coordination, low degree of novelty) builds on single use/localisation phase innovation, but addressing a larger public makes coordination difficult
4. Transformation (high complexity and coordination, high degree of novelty) novel and change entire systems
How can you speed up the innovation adoption process?
2. Don't force people to select a single best idea or most accurate idea, that increases uncertainty
3. Take small and local steps
Which 2 biases affect the individual adoption of innovations the most?
2. Endowment effect
What is innovation management?
1. The formulation of an innovation strategy
2. Creating an atmosphere that guarantees that employees can access their creative potential
3. Management
4. Selecting ideas
5. The execution of innovation projects, etc.
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