physical pubquiz 4 types of grades submitting questions before lecture to Kelvin Breuer

Aantekeningen podcasts Podcast 1 - Try to know our names Outline → 4 types of interaction moments (podcasts, lectures (online in Teams), tutorial (physical) & pubquiz) → 4 types of grades → submitting questions before lecture to Kelvin Breuer before Tuesday 17:00 (read your own question out loud - people have to turn on camera) → tutorials are interactive → make pubquiz with your group and you compete with other groups → tutorial assignments in form of slidedoc → more professional (examples on BB) → slidedoc should be self-explanatory (all info should be on slides), structured and visually attractive, most important info should stand out → business plan → you get a grade for your peerfeedback → at last you have to pitch your business plan → for both parts are rubrics → have to domarket researchand pilotthat among users (through surveys FEX) → exam will be physical on campus → everything in the required reading list is content for the exam.

Innovation Strategies of Firms and Entrepreneurs:builds

on: Introduction Technology and Innovation – Economics

of Technology and Innovation – Organisation Theories → focus on innovation processes within the firm.

Innovation has to beactively managed: “Innovationis the

specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or service. It is capable of being presented as a discipline, capable of being learned, capable of being practiced”.Choice of strategy (& luck) are more important than industry:• choice of industry 8.35%, • choice of strategy 46.4%, • parent company 0.8%, • unexplained (e.g. luck) 44.5%.Podcast 2 - You can’t always get what you want Start-ups =young innovative enterprises that areoften seen to contribute to economic growth and to help solve societal challenges → also known asnew technology-based firms.→entrepreneursare people behind the start-up (SteveJobs for Apple) → or team of people → many entrepreneurs are tech-focused (narrow perspective).Business incubators =programs and organizations thatprimarily support new technology-based startups → others distinguish between incubators, accelerators, venture builders and some form of supporting co-working spaces → they mostly do the same → the difference is mostly marketing.→ resources help start-ups to survive, grow and compete → incubator resources(see picture left) → physicaland financial capital aretangible resources→ knowledge, socialcapital and legitimacy areintangible resources→ it is unknownif

incubators contribute to start-up succes,because:

-Resources offered by incubutors are sometimes of poor qualityand do not fit the needs of start-ups.-Start-up entrepreneurs might not knowwhat resourcesthey needor how to use them.→ initiallytangible resourcesare deemed important→ later start-ups realize that intangible resources are more important → this aligns with the view of incubator staff. 1 / 3

Resources and their quality did not always meet the needs of the start-ups → start-ups are often focused on technology → they are often “unconsciously incompetent” →short-term oriented and focused onday-to-day business→ unwilling toleave theircomfort zone.

Implications for incubators:

-For inexperienced “incompetent” entrepreneurs:strongintervention approach=

aggressive coaching → mandatory participation → fixed mile stones, recruit additional external entrepreneurs → FEX. Google was founded by PhD students, but the major growth was done by an outsider (succesful entrepreneurs have to give up control).-For experienced “competent” entrepreneurs:laissez-faireapproach= demand driven support.Podcast 3 - Too many types of innovation Schumpeter:product innovation =about what is produced(can be tangible (material good) and intangible (service)) →process innovation =how toproduce it (machines or technological).→ FEX. PDI: the wheel/phone/cars → PCI: scrum/agile (software process innovation) → when a machine is sold to another company it is a product innovation → when they use it themselves it improves their process and it is process innovation.Innovation can be classified based on their effects on the market:an innovation can cause: -continuous small incremental changes; step-by-stepapproach of gradually improving existing products or processes.-discontinuous radical innovations; change the entireorder of things, making obsolete the old ways and perhaps sending entire businesses into the ditch of history.-massive shiftsin some pervasivegeneral purpose technology(GPT), sometimes called techno-economic paradigms→ this changes the wholeparadigm of how our society is made up → broader than one new product, but a tech that has worldwide influence → this GPT has influence on other innovations → FEX. electricity and the internet.Can distinguish product and process innovations based on the scope of the change:there are...-changesat the level of the innovative product orprocess; changes in technological characteristics, functions and quality.-changes induced by the innovationat the level ofthe innovating agent; change in competencies, organizational structures or the market position.-changes induced by the innovationthroughout the valuechain; go outside the innovating agent, higher, systemic level of change → FEX. for users’ competencies, or supplier involvement.

4 types of technological change:see picture right.

Modular innovation =the core concepts of componentswithin the product system design are overturned, so they are very new, but the architecture is not → FEX. electric engine in a car, one component is new, but the architecture stays the same, because the engine is still connected to the same other components and it still looks like a car → outside architecture stays the same, but internal A does not.Architectural innovation =rearragement of the waysin which components relate to each other within a product system design → the way components are put together changes → FEX. motorcycles with 3 wheels, nothing on it is new, only the way the components are placed together.

Dimensions of ‘innovation space’:

●product– changes in the things (products/services)which an organization offers. 2 / 3

●process– changes in the ways in which they are created and delivered.●position– changes in the context in which the products/servicesare introduced → it changes the meaning of the product in the eyes of the customer (material product or organizational structure) → can also be a new product that is introduced to a new market (FEX. the electric bike was first for elderly, while now it is marketed for the ordinary person to commute between work and home).●paradigm– changes in the underlying mental & businessmodels which frame what the organization does.These categories have fuzzy boundaries and they are not mutually exclusive → firms can pursure all or a few at the same time.Different kinds of paradigm innovation → Francis and Bessant talk about a different kind of paradigm than Meeus et al.Disruptive innovation =new entrants challenge incumbents,often despite inferior resources → new market is overlooked or ignored by incumbents → after some time, disruptive innovation improves and threatens established markets and products → to withstand disruptive innovation incumbents need to adapt their organization and be in touch with customer needs.→ firms can respond effectively on disruptive innovation by looking at their business strategy → if you wanna be creative and keep up with competitors, you have to destroy part of your business.→difference with radical innovation:for disruptiveinnovation the key to organizational renewal lie in the needs of the customers, whereas for radical innovation this lies in the capabilities of the incumbent firm itself.Podcast 4 - The everchanging business model A business model is:management’s hypothesis about:– What do customers want? – How do they want it? – How can the enterprise organise itself to best meet those needs? – How do you get paid for doing so? – How do you make a profit?→ defining a manner in which the enterprise delivers value to customers and ties its customers to pay for value and converts these payments into profit.Business models are important, becausethey make explicitand provide evidence for how a business creates and delivers value to customers → without a well-developed business model, innovators will fail to deliver or to capture value from their innovations.→ a business model is strongly related to strategy → a business model is part of the competitive advantage of firms → business models get changed a lot.Freemium model =give the basics away for free, butfor more services you have to pay.

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