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Lecture 6

Lecture 6. 31/10/13. Invention or Innovation . Invention is the formulation of new ideas for products or processes Innovation is all about the practical application of new inventions into marketable products or services

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Lecture 6

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  1. Lecture 6 31/10/13

  2. Invention or Innovation • Invention is the formulation of new ideas for products or processes • Innovation is all about the practical application of new inventions into marketable products or services • These concepts straddle the line between conceptualization and actualization • Invention constitutes the initial creation of a new product, technique or practice, while innovation represents the practical fulfilment of one or (as often is the case) multiple products, techniques and/or practices.

  3. Latest Apple Products

  4. Apple Articles • http://mybroadband.co.za/news/business/15961-Steve-Jobs-the-state-Apple.html • http://www.bbc.co.uk/news/business-11570631 • http://www.bbc.co.uk/news/technology-11521742 • http://www.appleinsider.com/articles/10/03/01/apple_ipad_production_hit_by_manufacturing_bottleneck_report.html • http://theappleblog.com/2010/09/03/apple-doubles-ipad-production-may-triple-soon/

  5. Apple Case – Key Themes: • Dealing with the changing structure of an evolving industry • Achieving sustainable competitive advantage • Accurately timing strategic moves • Using innovation to create competitive advantage

  6. Broader Comments • Differentiate between product advantage and competitive advantage • Focus ‘too insular’ at one time • Multiple standards may co-exist when there’s a big gap between them • Companies must pay careful attention to timing and windows of opportunity

  7. The PC Market

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