Experience versus initiative
o reflects the fact that companies must decide who will lead an innovation project. Senior
managers may have experience and credibility but tend to be more risk averse. Mid-level
employees, who may be the innovators themselves
Innovation requires new knowledge from
The latest technology
The results of experiments
Growth opportunities come through innovation. Innovation = the use of
new knowledge to transform organizational processes or
There are three questions that can be used to assess the effectiveness of the corporations
(1) are the products or services offered by the venture accepted in the marketplace?
o If the venture is considered a market s
Innovation dilemmas, final choices
o Incremental versus preemptive launch
o An incremental launch is less risky, requires fewer resources, serves as a market
o An incremental launch can undermine the projects credibility if it is too tentative
o An i
o Innovativeness = a willingness to introduce novelty through experimentation and creative
processes aimed at developing new products and services as well as new processes.
Innovativeness refers to a firms attitude toward innovation and wil
Evaluating results of the Innovation Process
o How much will the innovation initiative cost?
o How likely is it to actually become commercially viable?
o How much value will it add; what will it be worth if it works?
o What will be learned if it does not
Can enhance existing practices
Make small improvements in products & processes
Can create evolutionary applications of earlier innovations; provide new capabilities
o Another way to view the impact of an innovation is in terms of it
The initial target market for SBB will be legal age college students. A high percentage of
this segment tends to consume alcoholic beverages. The rigorous demands of college life make
the benefits of the product very appealing to them. As e
Marketing and product Objectives
The marketing and product objective for SBB is to capitalize on the health benefits of the
product and focus on developing Brand reputation. Developing the brand name for future
marketing efforts will be accomplished throu
The Marketing Program
SBB will have a marketing program that utilizes the four Ps marketing mix elements of
Product strategy, price strategy, promotion strategy, and place strategy
Our product line currently only has one product. Our most
Organization Structure and Implementation Plan
A marketing program needs a marketing organization to implement it. This section of
the marketing plan may include an organizational chart with both current and projected
Limitations of Real Options Analysis
o Real options analysis (ROA) = an investment analysis tool that looks at an investment or
activity as a series of sequential steps, and for each step the investor has the option of:
(a) investing additional funds to g
To remain competitive, established firms must continually seek out opportunities for
growth and develop new methods for strategically renewing their performance.
o How can entrepreneurial activities become an avenue for achieving compe
Major job attitudes
Perceived Organizational Support (POS)
What is job satisfaction?
Job satisfaction- a positive feeling about a job, resulting from