Question

INNOVATION PROCESS IN ENTREPRENEURSHIP Blue ocean strategies allow firms to make their competitors irrelevant. Select an...

INNOVATION PROCESS IN ENTREPRENEURSHIP

Blue ocean strategies allow firms to make their competitors irrelevant. Select an industry you believe is highly competitive and what you think a firm can do to be innovative in terms of its business model. How, specifically, do you see this changing the industry over the next few years? Why?

Business   Operations-Management   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Industry chosen- Smartphones

What firms can do to be innovative in business model?

  • Need to spend hugely on R&D to outlplay competitors and offer high value to customers
  • Use of VR and AI technologies
  • Leverage IoT and cross sell other decives connected to the phone such as refrigerator, air conditioner etc.

How will this industry change over next few years?

  • All innovation will be based on cloud technology
  • Smartphone makers like Oneplus offering high performance at lower prices giving intense competition to established and expensive phones
  • Value of the phone will be driven by software rather than hardware
  • Gadgets parallel to a smartphone might come up
  • Concerns about security and privacy will drive the industry
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
INNOVATION PROCESS IN ENTREPRENEURSHIP Explain how you might integrate Blue Ocean Strategy with at least one...
INNOVATION PROCESS IN ENTREPRENEURSHIP Explain how you might integrate Blue Ocean Strategy with at least one other concept or strategy in a business. What effect do you think this would have on creating innovations or launching a startup?
Sign In INNOVATION Deep Change: How Operational Innovation Can Transform Your Company by Michael Hammer From...
Sign In INNOVATION Deep Change: How Operational Innovation Can Transform Your Company by Michael Hammer From the April 2004 Issue Save Share 8.95 In 1991, Progressive Insurance, an automobile insurer based in Mayfield Village, Ohio, had approximately $1.3 billion in sales. By 2002, that figure had grown to $9.5 billion. What fashionable strategies did Progressive employ to achieve sevenfold growth in just over a decade? Was it positioned in a high-growth industry? Hardly. Auto insurance is a mature, 100-year-old industry...
Case Study Big Data Stewart Clegg Radically changing your business due to disruptive innovation requires a...
Case Study Big Data Stewart Clegg Radically changing your business due to disruptive innovation requires a different approach. When dealing with disruptive innovation, the alignment and/or realignment of an organization’s assets might not be enough to sustain competitive advantage. When newcomers use the latest technology to disrupt an entire industry, the incumbents will need to take drastic measures to change their organization. The emergence of strategies driven by Big Data means a transition to a data-driven, information-centric organization consisting of...
do you agree or disagree and why with the information below: Corporate-level strategies for Mitsubishi Corp....
do you agree or disagree and why with the information below: Corporate-level strategies for Mitsubishi Corp. Vertical integration is a tactic that a company such as Mitsubishi can use to improve its cost leadership position (Strategic Management, 2014c, pp. 249-252). This would work well for a company such as Mitsubishi because the company already has experience with this tactic. Due to the fact that Mitsubishi Corporation already forms many of the links in the value chain it likely will be...
can you give me short summary abstract and conclusion on chapters 1 and chapters 2 in...
can you give me short summary abstract and conclusion on chapters 1 and chapters 2 in Strategic Market Management, 9th Edition, by David A. Aaker As you said yu want more info, below is the info, can you please answer my question now. Management Tasks:Strategic Analysis ,Innovation,Multiple Business—Strategies and Issues,Creating SCAs,Developing Growth Platforms Business Strategy:The Product-Market Investment Strategy –    where to compet,The Customer Value Proposition,Assets and Competencies,Functional Strategies and Programs The Product-Market Investment Strategy-Invest to grow (or enter a product...
Using the model proposed by Lafley and Charan, analyze how Apigee was able to drive innovation....
Using the model proposed by Lafley and Charan, analyze how Apigee was able to drive innovation. case:    W17400 APIGEE: PEOPLE MANAGEMENT PRACTICES AND THE CHALLENGE OF GROWTH Ranjeet Nambudiri, S. Ramnarayan, and Catherine Xavier wrote this case solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. This publication may not be...
Pfizer was established in 1849 in Brooklyn, New York by cousins Charles Pfizer and Charles Erhart...
Pfizer was established in 1849 in Brooklyn, New York by cousins Charles Pfizer and Charles Erhart with a loan of $2,500 from Pfizer’s father.2 Today, 167 years later, Pfizer Inc. has international revenues of $49 billion, which makes it the second-largest pharmaceutical manufacturer in the world.3 Despite Pfizer’s success, the company has faced many challenges over the last few decades. The pharmaceutical industry is heavily influenced by legal, political, and technological forces, and all indications are that the industry will...
Re word this reflection essay and include more studies on creativity in it. What have I...
Re word this reflection essay and include more studies on creativity in it. What have I Learned? I have learned how to use my brain better, to organize my thinking process in a way to facilitate my perceptions, creativity and innovative thinking methods in a more effective manner. I learned many ideas and findings on how human brain function. For example, according to Tony Buzan, the brain thinks in two ways: association or explosion method. I learned that to change...
Consumerization of Technology at IFG3 “There’s good news and bad news,” Josh Novak reported to the...
Consumerization of Technology at IFG3 “There’s good news and bad news,” Josh Novak reported to the assembled IT management team at their monthly status meeting. “The good news is that our social media traffic is up 3000% in the past two years. Our new interactive website, Facebook presence, and our U-Tube and couponing promotions have been highly successful in driving awareness of our ‘Nature’s Glow’ brand and are very popular with our target demographic—the under-30s. Unfortunately, the bad news is...
Exploring Innovation in Action Power to the People – Lifeline Energy Trevor Baylis was quite a...
Exploring Innovation in Action Power to the People – Lifeline Energy Trevor Baylis was quite a swimmer in his youth, representing Britain at the age of 15. So it wasn’t entirely surprising that he ended up working for a swimming pool firm in Surrey before setting up his own company. He continued his swimming passion – working as a part-time TV stuntman doing underwater feats – but also followed an interest in inventing things. One of the projects he began...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT