Strategic Management Discussion questions
1. All organizations have their own particular approach to managing innovation - even those who don't formally try to manage it at all! It's a bit like having a particular personality - even firms in the same sector often approach innovation in very different ways. These represent the results of their own learning processes and the way they manage things accumulates by trial and error. Think about an organization with which you are familiar and try and map its 'innovation personality' - its particular approach - on to our generic framework model. How do they search, select, implement, etc.?
2. What technological and market factors affect the commercialization process? Why does the development and commercialization process differ for the different types of innovation?
3. What are the arguments for and against allowing temporary monopolies by allowing intellectual property rights? What forms of intellectual property exist for designs, and how are these different from patents and copyright?
Apple corporation is an example of a company which makes use of innovation in its day to date operations. Looking at Apple's innovation personality, apple has employed its different brand that it has generated through innovative acts to carry out competition over several markets which are competitive such as the industry of personal computers. For the marketers available, Apple company is known to have a strong presence established in the market where they rival with other companies such as Google in the advertising market.
Over several years the company product strategy has always been to create products which are innovative without forgetting the services which are aligned with a digital hub strategy. The company's core competence involves the act of delivering an exceptional experience over user interfaces considered to be superb. In addition to this, the company is known to have a branding strategy whose main focus is on the customers emotions. The branding strategy is more about lifestyle, liberty, imagination, aspiration and others through the use of technology. In addition to this, simplicity is also employed with an aim of removal of complexity from the lives of the customers. This is done through the use of a people-driven product design, and at the same time ensuring a heartfelt connection with the company's customers (Apple's branding strategy, 2011).
The technological and market factors commercialization processes are examined. The arguments for and against temporary monopolies are determined.