Managament Of Innovation And Technology Marketing Essay

Managament Of Innovation And Technology Marketing Essay unveiling a market early has several emoluments such as world capable to establish brand loyalty and techno ratiocinative leadership by learning inwardnesss and long-lived reputation seizure of scarce as situateds by obtaining key locations government permits access to dispersal channels and closer relationships with suppliers pickings advantage of buyer switching personifys by using customers vacillation in switching to a more technologic crossing or operate receivable to its complexity and unfamiliarity reaping increasing returns advantages by utilizing self-reinforcing positive feedback mechanisms. (Schilling, 2010, p.93-95) However, in that location atomic number 18 approximately advantages to bowing a market youthful such as pull aheadting from the ride-effect which enables late entrant to utilize first-mover smasheds explore and bugger offment investments capitalizing established-suppliers, vivacious distribution channels, and consumers familiarity to the technology susceptibility of ensuring the market to be more received by more tellingly estimating and determining customer expectations and involves exploiting incumbent inactiveness by more easily adopting the new technologies and their required production processes. In terms of considering these advantages, late entrants good deal surpass first movers although there atomic number 18 a lot of advantages of entering a market early. (Schilling, 2010, p.95-96)Name a winning (a) first mover, (b) early colleague, (c) late entrant. Identify unsuccessful utilizations of for apiece one?Successful voice of first mover Polaroid Instant camera discomfited example of first mover Kodak 8-mm Video CameraSuccessful example of early follower Samsung MicrowaveUnsuccessful example of early follower Intel MicroprocessorsSuccessful example of late entrant Palm Computing personal organizerUnsuccessful example of late entrant Dvo rak Keyboard(Schilling, 2010, p.98)What factors might piss some industries harder to pioneer than others? Are there industries in which there is no punishment for late door?Limited existence of natural resources, suppliers, complemental goods, distribution channels, and inst all tolded base requirement of the most cast outd technologies establishing consumer sensation and familiarity of the newest technology uncertainty and ambiguity of customer preference and desirability laid-back threat of emulous entry into the market are some remarkable factors that might make some industries harder to pioneer than others. Exceptionally, when there are industries in which a quaint soaked has capability to produce an unduplicated product or service, this firm can enter the market whenever it wants. Namely, there is no penalty for later entry into such industries. Hydrogen-powered automobiles can be considered as a good example of such an industry. (Schilling, 2010, p.99-102)Chapter 5 Case QuestionsWhy did most of the early labor organizer companies fail, even if they had innovative and advanced product designs?Despite of having innovative and sophisticated product designs, most of the early PDA companies fail beca practice session of some decisive factors such as running out of money and funds having light complementary goods, suppliers and distribution channels having a narrow installed base due to lack of advanced and enabling technologies, facing difficulties in terms of developing memory capacity, process power, modem size, battery life and size, software products lack of awareness of PDAs functions. (Schilling, 2010, p.90)Could early PDA companies have done anything polarly to survive? first PDA companies underestimated the sales volume as well as the cost of PDAs process and production that is why they encountered financial difficulties to afford and execute their projects as a result most of PDA companies ran out of money. However, some companies h omogeneous Sharp and Casio were contrastingly cerebrateed on more specialized devices and perpendicular markets. By doing so, these companies could survive and kept operating. (Schilling, 2010, p.90-91)From my point of view, the best and most logical thing that early and failed PDA companies could have done was to apply optical fusion and acquisitions strategies in order to create more financial resources, more complementary goods, more distribution channels, and larger installed base so as to sustainably campaign out their projects and accomplish their short-term and long-term goals.Why was Palm successful where so many others had failed?As a late entrant and observer, accurately assessing and estimating its target market preventing to do the same mistakes the early PDA companies did right determining and defining the desirability of consumers from the product producing a cost-efficient and fair product design were key elements ensured Palm to be successful.(Schilling, 2010, p.91)Was creation late to the impertinent audio market a disadvantage for apple? What factors enabled Apple to successfully enter when it did?As an overall evaluation, I do non think that cosmos late to the smart phone market was a disadvantage for Apple because Apple benefitted from previous operations and advancements with regard to fittingly linking to complementary goods and enabling technologies in the smart phone market. Furthermore, producing a smart phone with an aerodynamic interface and elegant design, providing additional features analogous taking pictures and downloading music also contributed to Apples achievement. In conclusion, all these factors enabled Apple to successfully enter and operate in the smart phone market despite of being late. (Schilling, 2010, p.92)Are there increasing returns in the smart phone market? Is it likely to eventually pick a single operating musical arrangement as the dominant allele design?According to me, it is obvious that ther e are increasing returns in the smart phone market because two leash sources of increasing returns learning effects and network out-of-doorities are continuously being change and advanced. If we look at today, there is a great op vex between Apple and Samsung in the smart phone market. Almost all software products and mobile applications are predominantly designed and produced to be congruous to these companies smart phones. Additionally, there is a high local and global demand for both Apple and Samsung smart phones. Therefore, I believe that smart phone market is likely to pick Apple and Samsung together as the dominant designs.Chapter 6What is the dissimilarity between strength, a agonistic advantage, and a sustainable competitive advantage?Strength is considered as a firms resources and adequacies that provide a firm competitive advantage. However, competitive advantage is firms power and capability to regular recurrence and surpass its competitors by using its strengths . Eventually, sustainable competitive advantage refers a firms scarce, unduplicated, precious, constant, and long-standing resources enabling it to continuously outperform its competitor for a long gunpoint of time. (Schilling, 2010, p.119)What makes an ability (or set of abilities) a heart and soul competency?According to the copy of Prahalad and Hamel, abilitys power to provide superiority in strategic antitheticiation effectual combination and coherence of numerous initial abilities abilitys additive to increasing product value and perceived customer value abilitys strength to foster a firms flexibility and configuration to changes and new improvements abilitys sufficiency to contain series of different organizations abilitys inimitable mechanism and social organization are key factors that convert an ability into a core competency.(Schilling, 2010, p.122-123)Why is it necessary to perform an external and immanent analysis before the firm can identify its true competencies ?As Gallon and his enquiry fellows suggest, building specific goal-oriented teams establishing an elaborate and detailed set of capabilities assigning the significance, power, and value of capabilities for a firm analysis and evaluation of each competencies in respect to providing a competitive advantage and effective fulfilment of market needs finding key competencies to be empowered and improved so as to provide a sustainable competitive advantage over competitors are critical steps in order a firm to accurately identify its competencies and accomplish its organizational goals. Hence, performing an external and internal analysis is essential and necessary. (Schilling, 2010, p.125)Pick a company you are familiar with. Can you identify some of its core competencies?I would like to evaluate and identify Apples core competencies as a familiar and touristed company. Basically, Apples core competencies are highly pore on innovation well investing in research and development creating elegant and aerodynamic designs manufacturing dissimilar multifunctional products such as IMac, IPhone, IPAD, IPod large installed base and availability of complementary goods high brand recognition and loyalty efficiently addressing its target market successfully exhibiting its products and training its customers through Apple Stores.How is the idea of strategic absorbed different from models of strategy that emphasizes achieving a fit between the firms strategies and its current strengths, weaknesses, opportunities, and threats (pulverization)?The main difference between strategic intent and SWOT is their time perspective in terms of executing objectives and accomplishing goals. In this context, strategic intent has a succeeding(a) and long-term perspective (approximately 10 to 20 years). In essence, strategic intents core consideration is to ensure overall organization to focus on estimating prox market demand, enhancing and improving its animated core competencies in order to satisfy the rising market demand. On the other hand, SWOT has a short-term perspective in carrying out objectives and achieving the organizational success. In the light of this, SWOT is fundamentally focuses on current data and information such as current competencies, current market demand and meeting this demand. (Schilling, 2010, p.125-127)Can a strategic intent be too ambitious?Although strategic intent focuses on achieving future goals, it should not overlook current condition of the firm in respect to determining and establishing future plans and goals. In this context, if a firm has in adequate to(predicate) capabilities and resources to allow a transition between its current position and aimed future position, strategic intent can be considered too ambitious. (Schilling, 2010, p.127)Chapter 6 Case QuestionsHow does Genzymes focus on orphan drugs affect the degree of competitor it faces? How does it affect the negociate power of customers?Genzymes focus on orphan dru gs positively affects the degree of contender it faces, namely taking this action ensured Genzyme to lead competition in the market. There were several factors that weaken the competition. Initially, Genzymes competitors were quite reluctant focalization on orphan drugs due to its low demand and small market. Subsequently, Genzyme benefited from FDAs edict and law which indicates that if a firm gets a patent and approval for an orphan drug, its drug gets a market exclusivity and protection from competition for seven years. As a result, there was no threat of potential entrants or existing rivalry at least for seven years, thus Genzyme remained powerful in the market. In addition to this, manufacturing and supplying a scarce and limited drug to relieve the pain of a ill-tempered illness induced patients not to have another choice except purchasing this drug. Therefore, Genzyme enhanced its bargaining power as a supplier whereas customers stayed with less bargaining power. (Schill ing, 2010, p.110)How does focusing on orphan drugs affect the types of resources and capabilities a biotech firm needs to be successful?Focusing on orphan drugs requires a biotech firm to use the existing resources and capabilities predominantly related to producing orphan drugs rather than generally providing benefit to the medical environment so as to be successful in its commitment. Therefore, such a biotech firm should highly invest in research and development. Furthermore, such a firm should independently operate with limited and adequate employees in its own production, sales, and testing facilities so as to have higher(prenominal) profits and lower costs, correspondingly to be successful. Overall, I think, in this particular case focusing on orphan drugs has a positive effect in respect to more productively using the existing resources and capabilities. (Schilling, 2010, p.111)Does Genzymes focus on orphan drugs make good sense? Do you think Genzyme has a long-term strategic intent?Genzymes focus on orphan drugs makes sense in terms of struggling to provide a medical discussion to rare diseases and illnesses. Accordingly, aiming to be highly profitable in this lowly competitive market also makes sense for Genzymes focus on orphan drugs. In my opinion, Genzyme demonstrated that it has a long-term strategic intent by dividing its businesses in different bailiwicks of medicine, and spreading its power to be dominant and leader in the market. (Schilling, 2010, p.113)Why do you think Genzyme has diversified into other areas of medicine? What are the advantages and disadvantages of this?I think, Genzyme has diversified into other areas of medicine in order to develop and advance its solutions to more diseases capture more market share honour and enhance its competitive advantage profitability and sustainability dominate the biotech market with its effective approaches to the critical medical issues. Despite of these pluses, it is inevitable for Genzyme to face more research and development costs to estimate and assess future solutions to diseases.What recommendations would you offer Genzyme for the future?I would offer Genzyme to maintain and sustain its diversified organizational structure so as to come up with new drugs for various diseases. By doing so, it can also foster and raise its profitability. However, diversifying and spreading its power to different medicine areas requires Genzyme to put more exertion into developing, manufacturing, marketing, and selling operations so as to achieve the success. In this context, I think, Genzyme should only use this effort in creating and developing new drugs, namely it should pay less management to the manufacturing, marketing, and selling processes by considering strategically established collaborations. By doing so, Genzyme can advance its core competencies and operational effectiveness in each medicine area it performs correspondingly it can considerably increase its profits.