Summary: Emba: Strategic Thinking Specialization

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• 1 INNOVATION FUNDAMENTALS

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• 1.1.2 LESSON 2: SOURCES OF INNOVATION

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• What are innovations that perfect a process or, rework a procedure by supplying a missing link?

  Process Needs

• Are considered internal source of innovation, and this came from surprising success or failure of a firm.

  Unexpected Occurrences

• What internal innovation came from resolving inconsistencies within a system or situation?

  Incongruities

• 1.1.3 LESSON 3: TYPES OF INNOVATION

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• True or False. Incumbents' customers often favor incremental improvements over radical innovations.

  True

• 1.1.4 LESSON 4: WHY ARE DOMINANT DESIGNS SELECTED?

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• This is common in industries where products are physically networked, or where complimentary goods or compatibility are important.

  Network Externalities

• True or False. A product is more likely to be selected as a dominant design if has the highest combined value (standalone plus network externalities)

  True

• 1.1.7 LESSON 7: SMARTCASE, WARMING UP TO INNOVATION

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• The development of a dominant design marks the beginning of the ______ phase.

  Growth Phase

• 2 BLUE OCEAN STRATEGY

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• 2.1.3 THE STRATEGIC MOVE

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• True or False. Value innovation breaks the value-cost trade-off that is so common to the competition based strategies.

  True

• 2.2.3 THE THREE HALLMARKS OF A GOOD BLUE OCEAN STRATEGY

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• True or False. Reading value curves allows us to judge the current health and future prospects of a company.

  True

• 2.3.2 LESSON 2: STRATEGIC PRICING

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• There are 2 reasons why setting a strategic price is so important. What are those reasons?

  1. Producing in volume pays greater dividends. 2. Because of the network externalities phenomenon (people place little value on a product or service that is used by few)