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    Discussion Assignment 6

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    majo.zc.93
    Course: Strategic Decision making and management

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    Discussion Assignment 6

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    majo.zc.93
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    Course: Strategic Decision making and management

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    © © All Rights Reserved

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    Course: Strategic Decision making and management

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    5 views3 pages

    Discussion Assignment 6

    Uploaded by

    majo.zc.93
    Course: Strategic Decision making and management

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    Discussion Assignment 5

    Innovation is the most important characteristic of the sustained growth of every firm. It

    disrupts the product life cycle curve by extending the growth while it was meant to decline.

    Nowadays, all companies know innovation is part of every process at a certain time, that is the

    reason why they have technology development or innovations departments. To keep being

    competitive all the companies should aim to innovate and encourage entrepreneurial orientation

    (Kennedy, 2020).

    Main competitive moves

    There are 4 types of innovation listed below:

    Incremental innovation

    This type of innovation describes constant improvements in the product or services

    offered. Every new version comes with an upgrade that usually follows the trends and the

    customers’ needs. As mentioned in the introduction, this type of innovation is the most common,

    and firms are forced to follow it to be competitive. For example, the use of natural, non-toxic

    ingredients in beauty products, is now a trend that most brands are following as part of the

    constant innovation in their composition.

    Disruptive innovation

    Disruptive innovation describes the development of new technology in an existing

    market. The customer’s needs are the same or well-known, but the firm develops a new offering

    that transforms the current one and is the starting point of a new era. For example, the creation of

    video streaming like Netflix has disrupted the video offering market with its platform innovation.

    The markets have always existed but the way to consume them has changed thanks to Netflix.
    Architectural innovation

    Architectural innovation is the creation of a new market with existing technology. For

    example, Facebook trying to introduce business features to sell and offer customer support. This

    is creating a new market for businesses using existing technology such as Facebook, Instagram,

    and WhatsApp apps.

    Radical innovation

    Radical innovation is the creation of a new market with new technology. This type of

    innovation requires a long time of product development and market study process. An example

    of this was the revolutionary Amazon Echo in 2014 which is a smart assistant with speakers that

    can reproduce music, control smart devices, and connect to your phone (Looper, 2019). This

    innovation has created a new market with new technology.

    Best competitive move

    In my opinion, the best competitive move depends on which market the company is in

    and the products or service they want to be part of. For example, if the company already exists

    could use incremental innovation or architectural innovation. But if the firm is a new entrant may

    want to use disruptive or radical innovation. In my opinion, the best competitive move is radical

    innovation because the monopoly of the technology and the market would be mine for a certain

    time. It will be beneficial for me and then I can change the strategy to Incremental to always

    offer a superior product or service. During the time that competitors try to copy my offering, I

    would start developing improvements to the current one.

    References
    Kennedy, R. (2020). Strategic management. Retrieved from Virginia Tech Publishing:

    https://pressbooks.lib.vt.edu/strategicmanagement/front-matter/publisher-information/

    Looper, C. d. (2019). Apple HomePod Vs. Amazon Echo Vs. Google Home: Which Smart

    Speaker Is Right For You? Retrieved from Forbes: https://www.forbes.com/sites/forbes-

    personal-shopper/2019/05/14/apple-homepod-vs-amazon-echo-vs-google-home-which-

    smart-speaker-is-right-for-you/?sh=907335c10ef0

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