Compare and contrast each of the following: (a) Radical and incremental innovation
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Compare and contrast each of the following:
(a) Radical and incremental innovation
(b)Patent and technical “know-how”
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Solved in 2 steps
- Gray Electric is a company with a long tradition of innovation. In 1973, they invented the world's first cellular phone and spent many years trying to understand how this new technology would impact their existing business. Gray Electric was in a position to become the first company in the world to develop and market a cell phone, but the upper management of Gray Electric had become complacent with making corded phones and could not imagine a world without landline phones. Because they had been the industry leader for decades and had faced very little competition along the way, the culture of Gray Electric had become rule-oriented and placed a high value on stability. Upper management decided that producing cell phones would only hurt their landline phone sales and quickly abandoned their cell phone endeavour. In 1987, they realized what a bad mistake they had made. Sales of their landline phones were decreasing drastically every year, and Gray Electric was losing money and cutting…1. What do you think are the challenges and risks associated with developing new products and services? Give at least five challenges and risks. 2. Identify the three product attributes - Quality, Features, Style and Design of a Laptop product. 3. Identify the three product attributes - Quality, Features, Style and Design of an Internet Service Provider product.What criteria determine whether or not a modification should be implemented?
- 1. based on the attached article McKinsey’s analysis has found companies that invest in innovation during a crisis outperform the competition on market capitalization by 10 percent; investing in innovation after a crisis gives them a 30 percent advantage. Considering this statement, and using relevant frameworks, examine the role of operations managers in product development and provide recommendations for strategies that can be implemented to enhance innovation in the consumer goods industry. 2. Shigeo Shingo and Taiichi Ohno are credited as the quality gurus behind the Toyota Production System (TPS) a widely recognised production system. Examine the relevance of the JIT approach in product development within the consumer goods sector. Make use of relevant examples.. Enumerate , what are the key challenges in identifying and prioritizing new product or service ideas?Starwood is the first major hotel brand to commit to a dedicated SixSigma program for improving quality. Why might an organization bereluctant to follow this type of formalized methodology? What otherapproaches could Starwood or its competitors use?
- Suppose you are apart of a project team designed to procure and implement various packaging alternative for single use plastics. What data or information would you need to begin searching for alternatives/ weighing options? Should any new data be collected? Why is this data relavent and can you provide suggestions for data collection?Benefits of Innovation Management. Answer in detailsImportance of Design Strategy factors in an FMCG Company
- Explain the New Product Development process in sharp elctronic company ?How has the worldwide demand for quality driven the concept of innovation? How has innovation changed your life?How does a product manager effectively manage a product's life cycle, and what does "creating a new situation" mean in managing a product's life cycle?