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Strategic advantage through innovation

    Strategic advantage through innovation

    Think about your organisation or one with which you are familiar and then, using
    The table below, try and list the ways in which it does (or doesn’t) use innovation to
    Get and stay ahead of competitors. Where possible can you give examples? How far
    Might you extend your use of innovation to obtain strategic advantage?

    Ways in which strategic advantage can come from innovation.

    Mechanism- Strategic advantage- Does your organisation do this? -Could it?- Examples

    1. Novelty in – Offering something-Does your organization do this- Could it-
    Product or no one else can.

    2. Novelty in – Offering it in ways-Does your organization do this-Could it-Examples
    Process others can’t match-
    Faster, lower cost,
    More customised etc.

    3. Complexity –Offering something -Does your organization do this-Could it-Examples
    which others find it
    difficult to master.

    4. Legal protection – Offering something which-Does your organization do this-Could it-
    of intellectual property. Others can not do unless
    they pay you a licence or
    other fee.
    5. Add/extend- Move basis of competition e.g.
    Competitive from price of product to price
    Factors. and quality, or price, quality
    choice, etc.

    6. Timing – First mover advantage, being first
    can be worth significant market share
    Market share in new product fields. Fast follwer
    Advantage. Sometimes being first means you
    Encounter unexpected teething problems and
    It makes better sense to watch someone else make
    The early misktakes and moves fast into a follow up

    7. Robust design offering – Something which provides
    the platform on which other
    variations and generation can
    be built.
    8. Rewriting the rules- Offering something which represents a
    a completely new product or process concept
    a diferent way of doing things and makes the
    old ones redundant

    9. Reconfiguring the parts- Rethinnking the way in which bits of the system
    work together, e.g. building more effective networks,
    outsourcing and coordination a virtual company, etc.