CHAPTER 7: Innovation Strategies

It aimed at developing new products, services, and processes.

• Entrepreneurial Orientation

•  Internal Development

• Innovativeness

• Intrapreneurship

Entrepreneurial orientation (EO) is a key concept when executives are crafting strategies in the hopes of doing something new and exploiting opportunities that other organizations can exploit.

• TRUE

• FALSE

It is creating a new, untapped market rather than competing with rivals in an existing market.

• Footholds

• Blue Ocean Strategy

• Red Ocean Strategy

• Innovation

An innovation that occur when new product or services are developed using new technology that open up new markets.

• Incremental Innovation

• Disruptive Innovation

• Architectural Innovation

• Radical Innovation

These are the consumers who avoid change and do not adopt new technologies until all traditional alternatives are no longer available.

• Innovators

• Early Adopters

• Early Majority

• Late Majority

• Laggards

Chasm is the gap or space between the early adopters and early majority.

• TRUE

• FALSE

Strategic Alliances is a cooperative arrangement that is designed to counter a shared threat or in other case, to deal with a shared opportunity.

• TRUE

• FALSE

Which do not belong to the group?

• Acquisitions

• Mergers

• Internal Development

• None of the above

This refers to the blending of competition and cooperation between two firms.

 Is a lower-end brand that a firm introduces to try to protect the firm's market share without damaging the firm's existing brands.