BSM 600 Lecture Notes - Lecture 10: 18 Months, Intranet, Homophily
31 Mar 2017
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Review: local vs nonlocal knowledge, why it"s difficult to seek nonlocal. They want others to do it because it"s risky - not sure how long to get returns, lots of uncertainty, vs local: you understand. Nl: not sure if or when you can reap benefits. Need to willingly obsolete yourself - impacts core competencies, competency trap. Information: with good systems, info from market is relayed to product devt team = flexibility in adapting to new info ability for different groups to work together. Acceptance implies you can change based on what you see in market: open innovation: seeking input from outsiders (anybody - suppliers, employees, etc. ) Managing backward compatibility (link to what"s already in market) Modular products - different stuff joined together make the product. Modularity is good, but makes it easier for people to repair and substitute = decreases value appropriation + ip concerns esp if you want larger share of profit. Hard to manage all the different components.
