SIM: Strategic Innovation Mgmt at TU München

Flashcards and summaries for SIM: Strategic Innovation Mgmt at the TU München

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Study with flashcards and summaries for the course SIM: Strategic Innovation Mgmt at the TU München

Exemplary flashcards for SIM: Strategic Innovation Mgmt at the TU München on StudySmarter:

Innovation as driver for creative Destruction

Exemplary flashcards for SIM: Strategic Innovation Mgmt at the TU München on StudySmarter:

Incremental Innovation

Exemplary flashcards for SIM: Strategic Innovation Mgmt at the TU München on StudySmarter:

Breakthrough innovation

Exemplary flashcards for SIM: Strategic Innovation Mgmt at the TU München on StudySmarter:

Radical innovation

Exemplary flashcards for SIM: Strategic Innovation Mgmt at the TU München on StudySmarter:

Witthaut Innovation definition

Exemplary flashcards for SIM: Strategic Innovation Mgmt at the TU München on StudySmarter:

What is Innovation?

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What are possible scoreboard elements for the gates evaluation?

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What is the three part assessment of the GATES

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RWW

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Eco system

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Describe the lean start up approach

Exemplary flashcards for SIM: Strategic Innovation Mgmt at the TU München on StudySmarter:

Definition of „Business Ecosystems“

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Exemplary flashcards for SIM: Strategic Innovation Mgmt at the TU München on StudySmarter:

SIM: Strategic Innovation Mgmt

Innovation as driver for creative Destruction
Capitalism leads to eternal structural changes in firms industries and economies. Innovation is what drives this process.

SIM: Strategic Innovation Mgmt

Incremental Innovation
Optimizing existing products for existing customers.

SIM: Strategic Innovation Mgmt

Breakthrough innovation
Exciting existing customers with really new benefits. Expanding from existing business into “new to the company” business.

SIM: Strategic Innovation Mgmt

Radical innovation
Developing transformational innovations, inventing things for markets that don’t yet exist

SIM: Strategic Innovation Mgmt

Witthaut Innovation definition
Innovation is a process to create value from ideas

SIM: Strategic Innovation Mgmt

What is Innovation?
Innovation is the market introduction or organisational novelty, not just its invention. (Schumpeter)

SIM: Strategic Innovation Mgmt

What are possible scoreboard elements for the gates evaluation?
1. Strategic
2. Product Advantage
3. Market Attractiveness
4. Leverages core competencies
5. Technical Feasibility
6. Risk vs Return

SIM: Strategic Innovation Mgmt

What is the three part assessment of the GATES
1. Readiness check: quality of execution
2. Business evaluation: Reasons to do
3. Action plan: go forward plan

SIM: Strategic Innovation Mgmt

RWW
Real win worth

SIM: Strategic Innovation Mgmt

Eco system
agile hackathon design thinking lean startup job to be done project managment

SIM: Strategic Innovation Mgmt

Describe the lean start up approach
1. Sketch out hypothesis: fill out business model canvas
2. Test all hypotheses incl. the business model by listening to customers: customer discover, validation, creation and building
3. Produce a MVP, gather feedback on it from customers, and then start over again

SIM: Strategic Innovation Mgmt

Definition of „Business Ecosystems“
economic community supported by a foundation of interacting organizations and individuals –

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