Competition begins at this stage o internal

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Competition begins at this stage. o Internal monitoring of processes to ensure that we can support quality, efficiency and growth as we progress through this stage. Information Needs o Marketing and technology trends as well as competitor actions Communication 3-10
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o Close communications with customers and suppliers Power Sources o Strong marketing o Procurement of materials used to construct the product Key Personal o Sales personnel o Procurement personnel Prime Strategic Actions o Consolidation of the innovation and defend against the competitive efforts of fast followers who are now entering the market place. o Fight to have the basis of the product become an industry standard. o Develop product further and develop the market for it further c. Maturity—Restructuring; Market expansion Focus o Greater efficiency. Competitors are now in the market place and “first in” buyers have moved onto other products. Price will become more of an issue. o Attempt to differentiate the product further. Information Needs o Consider competitors actions particularly in terms of differentiation and price. Communication o Greater influence on internal communications o Communications may focus on production capabilities and efficiency Power Sources 3-11
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o R&D for improvements, Marketing to defend and/or extend market share Key Personal o Production people, marketers Prime Strategic Actions o Market defense and or expansion. d. Decline—Reengineering—looking for renewal; Value destruction Focus Information Needs Communication o Cost benefit trends Power Sources o Sales and finance people Key Personal o Production people who can generate cost savings o Production, finance and marketing people who may be called upon to decide to continue or terminate the product. Prime Strategic Actions o Avoiding losses o Innovation in systems integration o process efficiency to reduce costs XII. Developing a Climate for Innovation—a number of myths that conflict with the reality of innovation and innovation processes exist. These must be considered in the planning process. The organization must be receptive to new ideas and not have a culture that stifles them. Many brilliant ideas never come to the attention of organizations because the originators do not want to sound too different, and thus risk ridicule. 3-12
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Innovation needs more than an instant in which an idea is generated. Years of planning and development are involved. 3-13
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  • Fall '19
  • a. product innovation

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