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- Provide an excellent explanation of the concept of disruptive innovation and of strategies which have been developed in, and impacted on, the market sector, citing excellent examples; provide an excellent critical assessment of their impact in relation to the chosen theme, applying, with excellent justification, a range of referenced approaches, eg, competitor, risk and impact analysis, demonstrating excellent insights."Creativity and innovation are both necessary to identify gaps in the market. Creativity is the point of origination for innovation; one must be creative to be innovative. Innovation refers to a better way of doing something new that is commercialised in the market. An innovation strategy builds on creativity, invention, and technologies, acting within a value network, to commercialise new products and services effectively for its customers (Dorf and Beyers 2008 cited in Venter, Urban and Rwigema 2018: 63)." With reference to the above statement, critically examine the elements of an attractive innovation strategy in an organisation.The ‘diffusion of innovation’ theory introduced by “Everett Rogers” described the process by which an individual adopts a new idea. Based on the news about launching Tesla’s new smart phone, assess the market potential for the introduction of this type of revolutionary smart phones and global effects of Tesla’s innovation on the smart phone business.
- Explain how this innovation solution(injuries and violence) would address the 5 characteristics (Relative Advantage, Trialability, Complexity, Compatibility, and Observability)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.Instructions Read the case: Apple Watch: Managing Innovation ResistanceLinks to an external site. Read also the article Does Elon Musk Have a Strategy?Links to an external site. Note: While reading this article, students should think about how Elon Musk's decisions indicate how he addresses and overcomes barriers to innovation? Write a summary of what you learned from the articles about innovation resistance and barriers to innovation. Include the following: A description of what innovation resistance is. A list of 5 barriers to innovation. Your main takeaways from the articles. How successful innovators like Elon Musk overcome barriers to innovation.
- Big or small companies across all industries or aspects are crowdsourcing product regarding innovation plans since tapping into a breadth of sources— both inside and outside the company—can produce unexpected and powerful new ideas. Do find two crowdsourcing campaign that a company, from anywhere across the world, has used within the past two years (current year: 2021). Were they successful? Elaborate each crowdsourcing campaign comprehensively. NOTE! I need a specific crowdsourcing campaign example and not define crowdsourcing! Not satisfied means downvote! so answer carefully and essentially!!!!!!!!!!!!!!!!!!!Describe a firm you think as been highly innovative. Which of the four types of innovation - radical, incremental, disruptive, or architectural - did it use? Did the firm use different types over time?What does the following statement suggest to you about Unibic: “It continued its efforts at innovation and produced new products which would appeal to its target market”?
- 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)Describe the significance of Innovation Management?Examine how the innovation adoption process works for a recording company looking to globally launch a new artist. How might a music streaming service facilitate this process? Then, select one adopter category the recording company should target and profile this market segment.