Exam_3_Study_Guide-1 - 11, 15, 16, 17, (maybe) 18 Chapter...

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11, 15, 16, 17, (maybe) 18 Chapter 11: Managing Choice and Innovation Knowledge Economy of the late 1900s and early 2000s is rapidly being transformed into the creative economy. High-level knowledge work is outsourced to less-developed countries, companies are evolving to the next level, generate economic value from creativity, imagination, and innovation. Organizations that change successfully are both profitable and admired Organizational Change: the adoption of a new idea or behavior by an organization Companies cannot rely on efficiency on operations anymore, innovation is necessary to survive. Product change: a change in the organization’s product or service outputs. Product and service innovation is the primary way in which organizations adapt to changes in markets, technology, and competition. E-file: allows online filing of tax returns, by the U.S. Internal Revenue Service (IRS), a new service innovation Related to changes in the technology of organization Technology change: a change that pertains to the organization’s production process—how it does work Make the production of a product or service more efficient Innovative Strategies for New Products and Technologies Exploration: designing the organization to encourage creativity and the initiation of new ideas; ideas are born. Creativity: essential first step in innovation, generation of novel ideas that might meet perceived needs or offer opportunities for the organization o Creative people: originality, open-mindedness, curiosity, focused approach to problem solving, persistence, a relaxed and playful attitude, and receptivity to new ideas. o Managers are responsible for creating a work environment that allows creativity to flourish Experimentation Idea incubators: an in-house program that provides a safe harbor where ideas from employees throughout the organization can be developed without interference form company bureaucracy or politics o Employee with a good idea has specific place to go to develop it Cooperation: creating conditions and systems to facilitate internal and external coordination and knowledge sharing Internal Coordination: o Marketing has a good understanding of customer needs o Technical specialists are aware of recent technological developments and make effective use of new technology o Members from key departments—research, manufacturing, marketing—cooperate in the development of the new product o Horizontal linkage model: an approach to product change that emphasizes shared development of innovations among several departments Research, manufacturing, and sales and marketing departments within in an organization must simultaneously contribute to new products and technologies o Parallel Approach, simultaneous linkage: sprinting to market with new market requirement, e.g.: basketball team that passes the ball to each other as they move down the court o Fast-Cycle Team: a multifunctional tem that is provided with high levels of resources and
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This note was uploaded on 05/04/2009 for the course MKTNG 330 taught by Professor Bita during the Spring '09 term at Montclair.

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Exam_3_Study_Guide-1 - 11, 15, 16, 17, (maybe) 18 Chapter...

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