CHAPTER 7 Business Strategy: Innovation, Entrepreneurship, and Platforms////Module 7: Innovation StrategyMany firms have dominated an early wave of innova-tion only to be challenged and often destroyed by the next wave. Consider how much of your firm’s compe-tition is driven by innovation and whether it is suscep-tible to technological disruptions from new entrants.
1.Where does your firm position itself on the indus-try life cycle? What are the strategic implications?
2.What is the firm’s innovation strategy? Does it rely on incremental or radical innovations? Dis-ruptive or architectural? What are the competitive implications of the firm’s innovation strategies?
3.Are intellectual property rights important for your firm? Can you find what strategies the firm is implementing to protect its proprietary position?
4.Identify a recent innovation by your firm. What is your firm’s strategy to cross the chasm(s) to achieve mass market adoption of its innovation?
5.What attributes describe the current major cus-tomer segment for your firm? Are these chang-ing? If so, is your firm prepared to meet these new customer demands?
6.How does your firm organize for innovation? Does it use a closed or an open innovation approach? Is its current approach working, or does it need changing? If it does need changing, in what way?
