Vorlesung - Technology & Strategy at AKAD Hochschule Stuttgart | Flashcards & Summaries

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TESTE DEIN WISSEN
Name 4 Inermediaries that a firm may decide to work with to distribute their Produkt, instead of doing it all internally. In Some industries
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TESTE DEIN WISSEN
Manufacturers’ representatives: - independent agents that may promote and sell the product lines of one or a few manufacturers. Wholesalers: - firms that buy manufacturer’s products in bulk then resell them (typically in smaller, more diverse bundles) Retailers: - firms that sell goods to public Original equipment manufacturers(OEMs): - A company that buys products (or components) from other manufacturers and assembles them or customizes them and sells under its own brand name. E.g., Dell Computer In some industries, information technology has enabled disintermediation or reconfiguration of intermediaries. --> e.g. some intermediates are bypassed online
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TESTE DEIN WISSEN
Why is usually a dominant design emerging, when there are network externalities in an industry? Are there exceptions?
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TESTE DEIN WISSEN
- A technology with a large installed base attracts developers of complementary goods; a technology with a wide range of complementary goods attracts users, increasing the installed base. A self-reinforcing cycle ensues. - sometimes the government steps in imposing one standard ---> Winner-Takes-All Market (natural monopoly) -> That doesn't mean the superior products always win.. Also: When customer requirements for network externality value are satiated at lower levels of market share, more than one dominant design may thrive.
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TESTE DEIN WISSEN
what is the method of Quality Function Deployment (QFD)? what is it useful for?
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TESTE DEIN WISSEN
QFD improves communication and coordination between engineering, marketing, and manufacturing. A new project gets separated in different engineering attributes and different customer requirements. Team weights the customer requirements in terms of relative importance. Team then indicates relationship between engineering attributes and customer requirements --> Way to find a design targets that you then engineer towards
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TESTE DEIN WISSEN
Name 2 common pricing strategies firms use while forming a deployment strategy
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TESTE DEIN WISSEN
Market skimming strategy (high initial prices) -Signals market that innovation is significant -Recoup development expenses (assuming there’s demand) -Attracts competitors, may slow adoption Penetration Pricing (very low price or free) •Accelerates adoption, driving up volume •Requires large production capacity be established early •Risky; may lose money on each unit in short run •Common strategy when competing for dominant design
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TESTE DEIN WISSEN
What is a knowledge broker?
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TESTE DEIN WISSEN
Individuals or firms that transfer information from one domain to another in which it can be usefully applied. They play a pivotal role in the innovation network by serving as a bridge between two separate groups of firms.
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TESTE DEIN WISSEN
How can the diffusion and improvement of a Technology usually be visualised over time?
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TESTE DEIN WISSEN
Both the rate of a technology’s improvement, and its rate of diffusion to the market typically follow an s-shaped curve. --> The technology improves slowly at first because it is poorly understood. Then accelerates as understanding increases.Then tapers off as approaches limits.
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TESTE DEIN WISSEN
Explain further how Strategic Alliances work as a an example for collaborative arrangements between firms
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TESTE DEIN WISSEN
Strategic Alliances are formal or informal agreements between two or more organizations (or other entities) to cooperate in some way. A firm’s alliance strategy might emphasize combining complementary capabilities or transferring capabilities. It might also emphasize individual alliances or a network of alliances.
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TESTE DEIN WISSEN
Name 3 Structural Dimensions on wich a Firm needs to decide
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TESTE DEIN WISSEN
- Formalization - Standardization - Centralization Many advantages and disadvantages of firm size are actually due to structural dimensions of formalization, standardization, and centralization. E.g. large firms typically make greater use of formalization and standardization because of challenges of oversight.
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TESTE DEIN WISSEN
What is an Innovation
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TESTE DEIN WISSEN
kkk
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TESTE DEIN WISSEN
When it comes to the teams to lead and manage the NPD process, what role does the team composition play?
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TESTE DEIN WISSEN
•Including members from multiple functions of firm ensures greater coordination between functions. •Firms around the world rely heavily on cross-functional teams for their new product development efforts. •Diversity in functional backgrounds increases breadth of knowledge base of team. •Other types of diversity (e.g., organizational tenure, cultural, gender, age, etc.) can be beneficial as well. •Provides broader base of contacts within and beyond firm. •Ensures multiple perspectives are considered. •However, diversity can also raise coordination costs. •Individuals prefer to interact with those they perceive as similar (“homophily”) •May be more difficult to reach shared understanding. •May lower group cohesion. •Extended contact can overcome some of these challenges.
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TESTE DEIN WISSEN
Define creativity and explain briefly the 2 kinds of creativity we got to know
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TESTE DEIN WISSEN
Creativity: The ability to produce work that is useful and novel. Individual creativity: - funktion of e.g. intellectual abilities, knowledge, motivation... Organizational Creativity: - Funktion of the combined individual creativity and the interaction between individuals --> can be encouraged trough e.g. Idea collecting systems (google does it a lot) and firm culture
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TESTE DEIN WISSEN
What is the Value of a technology defined like in industries with network externalities? what does that mean for new a new technology?
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TESTE DEIN WISSEN
Technology’s stand-alone value: - product value alone - The functions - Its aesthetic qualities ect. Network Externality Value: - The size of the technology’s installed base (direct network effects) - The availability of complementary goods (indirect network effects) --> so: that means the new technology must not always be more valueble than the incumbent from the start (no network yet)
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Q:
Name 4 Inermediaries that a firm may decide to work with to distribute their Produkt, instead of doing it all internally. In Some industries
A:
Manufacturers’ representatives: - independent agents that may promote and sell the product lines of one or a few manufacturers. Wholesalers: - firms that buy manufacturer’s products in bulk then resell them (typically in smaller, more diverse bundles) Retailers: - firms that sell goods to public Original equipment manufacturers(OEMs): - A company that buys products (or components) from other manufacturers and assembles them or customizes them and sells under its own brand name. E.g., Dell Computer In some industries, information technology has enabled disintermediation or reconfiguration of intermediaries. --> e.g. some intermediates are bypassed online
Q:
Why is usually a dominant design emerging, when there are network externalities in an industry? Are there exceptions?
A:
- A technology with a large installed base attracts developers of complementary goods; a technology with a wide range of complementary goods attracts users, increasing the installed base. A self-reinforcing cycle ensues. - sometimes the government steps in imposing one standard ---> Winner-Takes-All Market (natural monopoly) -> That doesn't mean the superior products always win.. Also: When customer requirements for network externality value are satiated at lower levels of market share, more than one dominant design may thrive.
Q:
what is the method of Quality Function Deployment (QFD)? what is it useful for?
A:
QFD improves communication and coordination between engineering, marketing, and manufacturing. A new project gets separated in different engineering attributes and different customer requirements. Team weights the customer requirements in terms of relative importance. Team then indicates relationship between engineering attributes and customer requirements --> Way to find a design targets that you then engineer towards
Q:
Name 2 common pricing strategies firms use while forming a deployment strategy
A:
Market skimming strategy (high initial prices) -Signals market that innovation is significant -Recoup development expenses (assuming there’s demand) -Attracts competitors, may slow adoption Penetration Pricing (very low price or free) •Accelerates adoption, driving up volume •Requires large production capacity be established early •Risky; may lose money on each unit in short run •Common strategy when competing for dominant design
Q:
What is a knowledge broker?
A:
Individuals or firms that transfer information from one domain to another in which it can be usefully applied. They play a pivotal role in the innovation network by serving as a bridge between two separate groups of firms.
Mehr Karteikarten anzeigen
Q:
How can the diffusion and improvement of a Technology usually be visualised over time?
A:
Both the rate of a technology’s improvement, and its rate of diffusion to the market typically follow an s-shaped curve. --> The technology improves slowly at first because it is poorly understood. Then accelerates as understanding increases.Then tapers off as approaches limits.
Q:
Explain further how Strategic Alliances work as a an example for collaborative arrangements between firms
A:
Strategic Alliances are formal or informal agreements between two or more organizations (or other entities) to cooperate in some way. A firm’s alliance strategy might emphasize combining complementary capabilities or transferring capabilities. It might also emphasize individual alliances or a network of alliances.
Q:
Name 3 Structural Dimensions on wich a Firm needs to decide
A:
- Formalization - Standardization - Centralization Many advantages and disadvantages of firm size are actually due to structural dimensions of formalization, standardization, and centralization. E.g. large firms typically make greater use of formalization and standardization because of challenges of oversight.
Q:
What is an Innovation
A:
kkk
Q:
When it comes to the teams to lead and manage the NPD process, what role does the team composition play?
A:
•Including members from multiple functions of firm ensures greater coordination between functions. •Firms around the world rely heavily on cross-functional teams for their new product development efforts. •Diversity in functional backgrounds increases breadth of knowledge base of team. •Other types of diversity (e.g., organizational tenure, cultural, gender, age, etc.) can be beneficial as well. •Provides broader base of contacts within and beyond firm. •Ensures multiple perspectives are considered. •However, diversity can also raise coordination costs. •Individuals prefer to interact with those they perceive as similar (“homophily”) •May be more difficult to reach shared understanding. •May lower group cohesion. •Extended contact can overcome some of these challenges.
Q:
Define creativity and explain briefly the 2 kinds of creativity we got to know
A:
Creativity: The ability to produce work that is useful and novel. Individual creativity: - funktion of e.g. intellectual abilities, knowledge, motivation... Organizational Creativity: - Funktion of the combined individual creativity and the interaction between individuals --> can be encouraged trough e.g. Idea collecting systems (google does it a lot) and firm culture
Q:
What is the Value of a technology defined like in industries with network externalities? what does that mean for new a new technology?
A:
Technology’s stand-alone value: - product value alone - The functions - Its aesthetic qualities ect. Network Externality Value: - The size of the technology’s installed base (direct network effects) - The availability of complementary goods (indirect network effects) --> so: that means the new technology must not always be more valueble than the incumbent from the start (no network yet)
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