Often, innovation involves approaching an existing idea or product from a new perspective to improve it. Explain the four (4) different types of innovation that you study this semester? Explain your answers
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Often, innovation involves approaching an existing idea or product from a new perspective to improve it. Explain the four (4) different types of innovation that you study this semester? Explain your answers.
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- How are management of technology and management of innovation similar? How are they different?Part One: Indicate whether the following sentences are true or false: levels of innovation can be classified as incremental/radical innovation or sustaining/discontinuous innovation. Incremental /radical innovation focuses on the newness and impact of innovation.Discuss the common steps involved in the innovation process in depth withrelevant references and examples.
- The most common form of innovation is incremental; however, some innovations are more disruptive and turn the industry upside-down. True or False?Chapter 7 discusses diffusion of innovations. Whattype of innovation is the meal kit concept?What is innovation? What are different types of innovation? Explain with real life examples from your own daily routine life.
- Using the same product or service you used in question 5, use thediffusion of innovation theory to assess how quickly it will diffuse basedon its relative advantage, compatibility, observability, complexity, andtrialabilityWhat are the three different levels of product innovation? Which is most common? Can a business survive long term with only continuous innovation? Why or why not?From Rapid Innovation Execution concept: How is execution innovation different from stage- gate development?
- Use your own words to describe what is “disruptive innovation”. If you consider the industry structure (i.e., the 5 forces), is disruption innovation considered as the threat of new entrance, threat of substitutes, or Rivalry among existing competitors and why? Please list five (5) disruptive innovations in other industries (not automobile or related industries, as we will discuss the industry in detail later)Are network effects good or bad for innovation? Explain.Part One: Indicate whether the following sentences are true or false: One level of incremental / radical innovation concentrates on causing a fundamental transformation in the resulting products or services and transforming the market place and/or the economy as a whole.