innovation_Presentation - Innovation: Capturing Value from...

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Innovation: Capturing Value from Knowledge Assets
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2 Cornell University Innovation: Where does it fit in? Innovation can create and/or protect against threats to competitive advantage: imitation, substitution, slack, and hold-up Own Innovation A way to create or protect one’s own competitive advantage Rival Innovation A threat to a firm’s competitive advantage
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3 Cornell University Do firms always profit from innovation? Examples of firms that capture little or no value from innovations are numerous Xerox PARC and window operating systems EMI and CAT scans Sony and Beta VCRs RC Cola and canned/diet sodas University of Illinois (Netscape) Iridium What did these firms do wrong?
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4 Cornell University How do innovators capture the value created? Technology transforms inputs into products or services Smelting technology transforms alumina and electricity into aluminum Innovation is the process of technology improvement typically enabled by knowledge assets Strategic Question: how can a firm capture more value from its knowledge assets?
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5 Cornell University Value of innovation shared The value of innovation is divided among several groups: Buyers Suppliers Providers of complementary assets Imitators Substitutors
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innovation_Presentation - Innovation: Capturing Value from...

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