level: Week 4 (Innovating for growth)
Questions and Answers List
level questions: Week 4 (Innovating for growth)
| Question | Answer |
|---|---|
| What are the 3 categories in Transforming for Growth? | 1. Leadership 2. Strategy 3. Culture |
| What are the 7 key success factors in Transforming for Growth? | (Leadership) 1. Take a fresh look at your business (starting with a new leader) 2. Ensure leadership continuity after the transformation starts (Strategy) 3. Take a Long-Term perspective on strategy 4. Prioritize exploration over exploitation 5. Treat transformation as an ongoing capability |
| (cont'd): What are the 7 key success factors in Transforming for Growth? | (Culture) 6. Become a purposeful organization 7. Think biologically Ps: applying more then five of the seven factors chance of achieving successful growth transformation increased with 59% |
| Define the relationship between innovation & product diversification in the case of new ventures (Unidirectional or bidirectional?) | -Resource based view (RBV) usually for established firms: unidirectional link --> First building an innovative position & resource pool then diversifying to exploit the pool’s economies of scope -Sociocognitive theory (SCT) ususally for new ventures: bidirectional link --> between Innovation and Diversification is happening simultaneously |
| Key dimensions for international Marketing strategies (innovation and adaptation) for international growth? | 1. Value innovation (a parallel of differentiation and cost advantages for different industries) 2. Co-created marketing (in co-operation with external partners to support different marketing functions) 3. Low-cost marketing (strategies such as PR, social media) 4. Country adaptation (answering to regional requirements) 5. Customer adaptation (customizing products/projects & using customer brands) |