Innovation Management - What is innovation?

3 important questions on Innovation Management - What is innovation?

What is creative destruction/disruptive innovation?

Newly developed products displace existing products or market positions

Why represents cannabalization a difficult decision for managers?

  • Margins an market acceptance of existing products are known
  • Existing customers don't like radical innovation
  • New innovations can steal market share

What is the definition of R&D?

Creative work undertaken on a systematic basis in order to increase the stock of knowledge (convert money into knowledge)

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