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principles of stage gate process,”Strong senior management commitment (they are the gate-keepers)Business innovation strategy exists, has been converted into objectivesProject management system thru-outEmphasizes market assessmentsEmphasizes pre-development assessment: (early stages found to be most wanting) Is this a good business? Who are the customers? Do we have the technological capability?Predevelopment; what exactly is the product concept, and can we do it at the right cost?Pre-established criteria: forces discussion of important issuesClear plan – lays out what to do by when, by whom
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Read moretiming strategy options
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Read morefirst to market strategy (first mover),”Innovation culture, able to create and then dominatethe market against fast followersExamples: Amazon with the e-book
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Read morefast follower strategy,”Firm must be very good with innovation and have strong R&D, and be good at figuring out why the first mover failed to exploit the market so they can leapfrog fast and grab the market Examples: Apple with mp3 players and later cell phones, Nokia with a smart phone, Google over Yahoo, Microsoft in search technology
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Read moreniche strategy,”Focus on specific niche market, requires a close connection to customers on what they want as far as product differentiationExamples: Laurastar, a Swiss with high end irons “”world’s smartest iron””, SolarCity
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Read morereactive strategy,”Firms that are followers and have a focus on operations, have a wait and see approach and look for low risk opportunities
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Read morelevel of focus strategy chart
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Read moreadvanced r&d
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Read morebreakthrough,”some combo of new technologies and uses
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