Vorlesung - Technology & Strategy an der LMU München

Karteikarten und Zusammenfassungen für Vorlesung - Technology & Strategy an der LMU München

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Lerne jetzt mit Karteikarten und Zusammenfassungen für den Kurs Vorlesung - Technology & Strategy an der LMU München.

Beispielhafte Karteikarten für Vorlesung - Technology & Strategy an der LMU München auf StudySmarter:

Name 4 Inermediaries that a firm may decide to work with to distribute their Produkt, instead of doing it all internally. In Some industries

Beispielhafte Karteikarten für Vorlesung - Technology & Strategy an der LMU München auf StudySmarter:

Why is usually a dominant design emerging, when there are network externalities in an industry? Are there exceptions?

Beispielhafte Karteikarten für Vorlesung - Technology & Strategy an der LMU München auf StudySmarter:

what is the method of Quality Function Deployment (QFD)? what is it useful for?
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Beispielhafte Karteikarten für Vorlesung - Technology & Strategy an der LMU München auf StudySmarter:

Name 2 common pricing strategies firms use while forming a deployment strategy

Beispielhafte Karteikarten für Vorlesung - Technology & Strategy an der LMU München auf StudySmarter:

What is a knowledge broker?

Beispielhafte Karteikarten für Vorlesung - Technology & Strategy an der LMU München auf StudySmarter:

How can the diffusion and improvement of a Technology usually be visualised over time?

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Explain further how Strategic Alliances work as a an example for collaborative arrangements between firms
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Beispielhafte Karteikarten für Vorlesung - Technology & Strategy an der LMU München auf StudySmarter:

Name 3 Structural Dimensions on wich a Firm needs to decide

Beispielhafte Karteikarten für Vorlesung - Technology & Strategy an der LMU München auf StudySmarter:

What is an Innovation

Beispielhafte Karteikarten für Vorlesung - Technology & Strategy an der LMU München auf StudySmarter:

When it comes to the teams to lead and manage the NPD process, what role does the team composition play?

Beispielhafte Karteikarten für Vorlesung - Technology & Strategy an der LMU München auf StudySmarter:

Define creativity and explain briefly the 2 kinds of creativity we got to know
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Beispielhafte Karteikarten für Vorlesung - Technology & Strategy an der LMU München auf StudySmarter:

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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Beispielhafte Karteikarten für Vorlesung - Technology & Strategy an der LMU München auf StudySmarter:

Vorlesung - Technology & Strategy

Name 4 Inermediaries that a firm may decide to work with to distribute their Produkt, instead of doing it all internally. In Some industries
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

Vorlesung - Technology & Strategy

Why is usually a dominant design emerging, when there are network externalities in an industry? Are there exceptions?
- 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.

Vorlesung - Technology & Strategy

what is the method of Quality Function Deployment (QFD)? what is it useful for?
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

Vorlesung - Technology & Strategy

Name 2 common pricing strategies firms use while forming a deployment strategy
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

Vorlesung - Technology & Strategy

What is a knowledge broker?
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.

Vorlesung - Technology & Strategy

How can the diffusion and improvement of a Technology usually be visualised over time?
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.

Vorlesung - Technology & Strategy

Explain further how Strategic Alliances work as a an example for collaborative arrangements between firms
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.

Vorlesung - Technology & Strategy

Name 3 Structural Dimensions on wich a Firm needs to decide
- 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.

Vorlesung - Technology & Strategy

What is an Innovation
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Vorlesung - Technology & Strategy

When it comes to the teams to lead and manage the NPD process, what role does the team composition play?
•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.

Vorlesung - Technology & Strategy

Define creativity and explain briefly the 2 kinds of creativity we got to know
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

Vorlesung - Technology & Strategy

What is the Value of a technology defined like in industries with network externalities? what does that mean for new a new technology?
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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