Week 4

• What is the nature of innovation according to the study material?

  Innovation is a systemic phenomenon.
• What does the triple helix of innovation include?

  Industry, universities, and government.
• How can industry benefit from universities?

  By seeking expert opinions.
• What can lead to a reduction in innovation?

  Less competition due to barriers of entry.
• What are the complementary roles of large and small companies in innovation?

  • Large companies often fund or acquire small firms.
  • Small companies provide innovative solutions.
  • Both contribute to the innovation ecosystem.
• Where do many important discoveries and inventions come from?

  R&D labs of large companies.
• What role do large companies play for entrepreneurs?

  They provide industry and managerial experience.
• How is the government typically involved in innovation?

  By funding research via universities.
• What types of innovations are suitable for large tech-intensive companies?

  Product and process innovations.
• What are internal sources of innovation?

  Employees, R&D, design offices, and users.
• Who are lead users?

  Top-performing users who innovate products.
• What is Pavitt's Taxonomy used for?

  Creating categories based on data.
• What is a limitation of Pavitt's Taxonomy?

  A firm can belong to several categories.
• What marked differences exist among industrial sectors?

  Sources and directions of technological change.
• What is typically true about the size of innovating firms in certain sectors?

  Big in chemicals, small in software.
• What is the basis of competition in bulk materials?

  Typically price-sensitive.
• What are the objectives of innovation in ethical drugs?

  Typically product innovation.
• Where are R&D laboratories typically located?

  In chemicals and electronics sectors.
• What do large firms have capacities in?

  Scale-intensive technologies.
• What do Hamel and Prahalad promote regarding firms?

  Core competencies as sustainable advantages.
• How many core competencies should a firm focus on?

  5 or 6 is normal.
• What is knowledge push in innovation?

  R&D as an important source of innovation.
• What does need pull refer to in innovation?

  Necessity drives invention and innovation.
• When is need pull particularly important?

  At mature stages of industry life cycles.
• What are the key sources of innovation according to the study material?

  • Knowledge push from R&D
  • Need pull from market demands
  • Collaboration between firms
• How do start-ups find opportunities for innovation?

  By identifying unmet needs in the market.