Innovation Management at Universität Hamburg

Flashcards and summaries for Innovation Management at the Universität Hamburg

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Study with flashcards and summaries for the course Innovation Management at the Universität Hamburg

Exemplary flashcards for Innovation Management at the Universität Hamburg on StudySmarter:

Define standard

Exemplary flashcards for Innovation Management at the Universität Hamburg on StudySmarter:

Name an example of a standard war

Exemplary flashcards for Innovation Management at the Universität Hamburg on StudySmarter:

What can be success factors in winning a Standard War?

Exemplary flashcards for Innovation Management at the Universität Hamburg on StudySmarter:

How is value created and captured when talking about network effects?

Exemplary flashcards for Innovation Management at the Universität Hamburg on StudySmarter:

Describe negative network externalities

Exemplary flashcards for Innovation Management at the Universität Hamburg on StudySmarter:

What are characteristics of open standards? 

Exemplary flashcards for Innovation Management at the Universität Hamburg on StudySmarter:

Define indirect network effects

Exemplary flashcards for Innovation Management at the Universität Hamburg on StudySmarter:

Differentiate between global and local network effects

Exemplary flashcards for Innovation Management at the Universität Hamburg on StudySmarter:

What are consequences of network effects

Exemplary flashcards for Innovation Management at the Universität Hamburg on StudySmarter:

What can be benefits of modularity in products?

Exemplary flashcards for Innovation Management at the Universität Hamburg on StudySmarter:

Describe the two directions of innovation.

Exemplary flashcards for Innovation Management at the Universität Hamburg on StudySmarter:

What is the role of standards in networks? 

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Exemplary flashcards for Innovation Management at the Universität Hamburg on StudySmarter:

Innovation Management

Define standard

A standard is “a set of technical specifications adhered to by a producer, either tacitly or as a result of a formal agreement.” 

  • De-jure (ISO, IETF, W3C, DIN, ITU)
  • De-facto (Dominant Design)

Innovation Management

Name an example of a standard war

  • battle of currents
  • game console 

Innovation Management

What can be success factors in winning a Standard War?

  • Control over an installed user base
  • Intellectual property rights
  • Manufacturing capabilities
  • Strength in complements
  • Brand name and reputation 
  • Industry collaboration!
  • First mover advantages (sometimes)

Innovation Management

How is value created and captured when talking about network effects?

  • value creation through network effects
  • value capture partially by consumer (=externality), partially captured by provider/owner (=effect)

Innovation Management

Describe negative network externalities

  • Limited Resources cause negative network effects.
  • Exclusion value of public goods: Club/Luxury goods

Innovation Management

What are characteristics of open standards? 

  • Vendor neutral (increasing competition)
  • Higher network externalities (industry std)
  • No vendor lock-in
  • No – or reasonable low – licensing fees (“FRAND”)
  • Competing on competences/quality rather than lock-in

Innovation Management

Define indirect network effects

  • cross-side effects
  • increases on one group of actors changes value for other group of actors

Innovation Management

Differentiate between global and local network effects

Global Network Effects

  • Global amount users matters (e.g. market volume/size)
  • e.g. Ebay

Local Network Effects

  • Amount of MY direct peers counts, the rest is irrelevant 
  • e.g. Skype

Innovation Management

What are consequences of network effects

  • Increasing returns to scales (regulation often required in industries with network effects)
  • Switching costs → exit-barriers → vendor lock-in

Innovation Management

What can be benefits of modularity in products?

  • Standardization of components
  • “Economies of Substitution”

    –> but one-to-one mapping from functional elements to physical components needed
    (<–> integral architecture)

Innovation Management

Describe the two directions of innovation.

  • Innovation can be bottom-up, or it can be top-down
  • “Administrators” and “technical” core, each proposes administrative/technical innovations respectively, which trickle down/up (Daft, 1978)

Innovation Management

What is the role of standards in networks? 

  • Standards can overcome single vendor-lock in → „industry standards“ but…
  • …controlling a standard can imply reaping benefits of network effects

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