ADM 1300 Lecture Notes - Lecture 9: Competitive Advantage, Carbon Footprint, Making Money

• School: University of Ottawa
• Department: Administration
• Course: ADM 1300
• Professor: David Delcorde

Document Summary

Sustainable competitive advantage relies on creativity and innovation. Creativity is the generation of a novel idea or unique approach to solving problems or crafting opportunities. Innovation is the process of creating new ideas and putting them into practice. (be able to commercialize innovations no commercial, no generate money) Creative work environment characteristic: allow employee to apply talent; manager/boss is open; supportive culture; give challenging works; lack of obstacles. Innovative organizations characteristic: strategy& culture(accept failure and expect innovatioin), structure(team, cross-functional), top management(give pressure to maintain operation, break down barriers), and staffing(idea creator, project managers, innovation leaders) Types of innovation: business innovation, sustainable innovation, social business innovation. Three forms of innovation: product results in the creation of new or improved goods and services, process results in better ways of doing things, business model innovation results in new ways of making money. Sustainable innovation: creation of new products and processes that have lower environmental impacts than the available alternatives.