SGMT 3000 Chapter Notes - Chapter 12: Franchising, High Tech, Social Capital
4 Apr 2016
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Important source of growth opportunity and strengthen strategic position. Using new knowledge to transform organizational processes or create commercially viable products and services. Sources of new knowledge: new technology, results of experiments, creative insights, or competitive information; the most important source of new ideas is new technology. Eforts to create product designs and applications of technology to develop new products for end users. Improving the eiciency of an organizational process, especially manufacturing systems and operations. Occur in later stages of an industry"s life industry"s life cycle cycle. Associated with overall cost leadership strategies (to lower the costs of operations) Produce fundamental changes by evoking major departures from existing practices. Enhance existing practices or make small improvements in products and processes. Usually occur as a result of technological. Lead to products that can be patented. Examples: telephone, computers, ibre optics expenses or speed productivity. Examples: frozen food, sports drinks, electronic bookkeeping, digital telephones.
