IOE 422 W2010 Class 6 020210

IOE 422 W2010 Class 6 020210 - Winter 2010 Kurt...

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Unformatted text preview: Winter 2010 Kurt Skifstad ([email protected]) I O E 4 2 2 E n t r e p r e n e u r s h i p Class #6 Innovation Strategies, Risk, Picking an Opportunity Kurt Skifstad [email protected] 1Class 6 – 1 Winter 2010 Kurt Skifstad ([email protected]) I O E 4 2 2 E n t r e p r e n e u r s h i p Dwight Carlson - recap • Questions • Lessons Learned • Clarifications 2Class 6 – 2 Winter 2010 Kurt Skifstad ([email protected]) I O E 4 2 2 E n t r e p r e n e u r s h i p Click to edit Master subtitle style Name Some Successful Companies 3Class 6– 3 Winter 2010 Kurt Skifstad ([email protected]) I O E 4 2 2 E n t r e p r e n e u r s h i p Innovation: First Movers and Followers First Mover Advantage: the gain attained by a firm when it is first to market with a new product or first to enter a new market 4Class 6– 4 ? Winter 2010 Kurt Skifstad ([email protected]) I O E 4 2 2 E n t r e p r e n e u r s h i p First Mover Advantage? + high(er) potential for name/brand recognition (low cost position) + you define the market, standard(s) + competitors value add has to overcome switching costs + create and protect IP- Higher go-to market costs (product development, education, adoption speed, etc), sometimes much higher- You have to get it all right:- Market definition- Product- Value Prop- Timing 5Class 6– 5 Winter 2010 Kurt Skifstad ([email protected]) I O E 4 2 2 E n t r e p r e n e u r s h i p Types of Industries Mature Growing Emergent Revenue Growth Slow Moderate Potentially Fast Stability High Moderate Low Uncertainty Low Moderate High Industry Rules Fixed Fluid Not Established Competitiveness High Moderate Low or None 6Class 6– 6 First Mover vs. Follower – is one more advantageous? Winter 2010 Kurt Skifstad ([email protected]) I O E 4 2 2 E n t r e p r e n e u r s h i p First Mover (best case) 7Class 6– 7 Innovation Period No Competition Low Competition Strong Competition Time Cash Flow Window of Opportunity Follower First Mover Winter 2010 Kurt Skifstad ([email protected]) I O E 4 2 2 E n t r e p r e n e u r s h i p First Mover (worst case) 8Class 6– 8 Innovation Period Nobody cares Whoops … Time Cash Flow Window of Opportunity Follower First Mover ? Winter 2010 Kurt Skifstad ([email protected]) I O E 4 2 2 E n t r e p r e n e u r s h i p Some Successful Companies 9Class 6– 9 First Mover or Follower? Mature, Growth, or Emergent Market FedEx First Mover Emergent Microsoft Follower Emergent Whole Foods Follower Growth Motorola First Mover Emergent Starbucks Follower(depends?) Mature Borders Follower Mature Google Follower Emergent ?? ?? ?? Winter 2010 Kurt Skifstad ([email protected]) I O E 4 2 2 E n t r e p r e n e u r s h i p Innovation: Don’t Underestimate the Value of Imitation • “Most everything I’ve done, I’ve copied from...
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IOE 422 W2010 Class 6 020210 - Winter 2010 Kurt...

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