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Corporate strategy and entrepeneurship

11 important questions on Corporate strategy and entrepeneurship

What are strategic infliction points?

an inflection point occurs when the old strategic picture disolves and gives way to the new, allowing the adaptive and proactive business to new heights

Is the dominant logic Always optimal?

no, it may be inapproapriated in the coming five years

Describe strategic management

it is a process that guides how the basic work of the organization is approached, ensures the continious renewal and growth of the company, and, more particarly, provides a context for developing and implementing the strategy that drives the company's operations

What does strategic management impy?

it implies a continious search for new sources of competitive advantage

The key to the portfolio approach is balance accros projects. accros which do you balance this?

high risk high return vs low risk low return
discontinious vs continious innovation
short and long term projects
products for new and existing markets
products with new technology and existing ones

What is the essence of the portfolio?

it is to innovation which selectively embraces initiatives that occupy varying risk return postitions accros the innovation spectrum

Define some elements of technology strategy

analogue or digital
pioneer or follower
level or r and d funding
product driven or market driven

What is the principal lesson of fusfelds model?

companies should invest in technologies that have a positve influence on the dimensions of product/service acceptibility most valued by the customers

Describe perfection syndrome

more often than not, the Marketplace wants a new product that is good enough and not best. a better mousetrap

Describe market pull approach and its limitation

innovation that starts with the customer and are typically driven by marketing people, market research plays a critical role
the foremost limitation is the often mistaking assumption that customers know their needs and can describe them in a way that results in new products

Give some examples of fatal flaws

misunderstanding the industry attractiveness
no real competitve advantage
pursuing an unsustainable competitve position
compromising strategy for growth
failure to explicity communicate strategy internally

The question on the page originate from the summary of the following study material:

Corporate entrepreneurship & innovation | 9781111526917 | Jeffrey Covin, et al

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