Techno 2

something that involves developing, creating new concepts and new ideas that will be useful for the target customers

a process, involving multiple activities, performed by multiple actors from one or several organizations, during which new combinations of means and ends which are new for creating and adopting unit, are developed or produced, implemented and transferred to old and new

the creation of something that improves the way we live our lives

routine innovation, happens in incremental basis

often a response to customer and market demands or improvements in technology.

The company obtained feedback from customers about the product and service rendered to improve and provide greater value to the customers

Examples of Sustaining Innovation

transforms expensive or highly sophisticated products or services—previously accessible to a high-end or more-skilled segment of consumers—to those that are more affordable and accessible to a broader population.

displacing long-standing, established competitors.

requires enabling technology, an innovative business model, and a coherent value network.

IDEA scale - defined as an innovation from inside a company that pushes something the next level

opens the company to new markets or changes the way customers interact with the market of the industry.

- begins with the discovery of some new phenomenon

- a key-driver to innovation as it provides information about a certain problem and derive with possible solutions.

the intentional definition of Research and Development (R&D) statistics about Basic Research

research without any clear goals, or science to satisfy the curiosity of a lone scientist without anyone else even realizing that it exists.

the goal of Basic Research

According to Hoffman, 2017

It's important that this knowledge can be used for anything concrete, the most important thing is that ________________

"Robert’s Rule of Innovation: A 10-Step Program for Corporate Survival" by Robert F. Brands

there should be a leader who can inspire others who possess positive attitude, vision and ability to communicate so that people will be able to acquire what they should emphasize in innovating products or services.

technopreneurs innovates new products or services which they have no assurance if it will survive in the market.

every business experiences failure because failure is the best teacher in order to succeed in the endeavor they embark on

innovation starts with a vision; an innovator should understand what they intend to develop for the benefit of their consumers and undergo with a structured process which includes idea generation, evaluation, prototyping, customer feedback and success metrics.

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The business leader has all the _______ on the new products and innovations in such a way that he generates the ideas and develop the appropriate business model

Once there is an innovation, those new products should have a _____ and will serve as a solution to real customer problems.

It is a standard that the team members and leaders have the full responsibilities and obligations in the innovation. They have the commitment to manufacture quality products, services and distribution.

Proper hiring and staffing of the people in the organization is a must to make sure that they are cautious of their responsibility and right mindset to perceive the future innovations. Continuous coaching is necessary to maintain the attitude and spirit.

In building products and rendering quality products and services, the organization should value the presence of the customers and sales member in order to have a brainstorming of what will be the best for the company.

It is a need to track the results if it is already an ideal ROI (Return on Investment). That is how the company will measure their profitability whenever they release new products to sustain the needs of the company as well.

If the company achieve their ROI, incentives of their employees is one way to motivation. There are several ways to motivate people aside from financial aspects such as recognition for a job well done.

a big challenge to everyone because we never know if the audience will listen to you and if they are interested about your topic

An innovative leader should conduct this to justify needs of the customers. Quality measurement that demands the data gathered during surveys, interviews and market research.

is the process of determining whether your product is of interest to a given target market.

involves a series of customer interviews with people in your target market, and it almost always takes place before you have made significant investment in your product/concept (Semick, 2016).

an enormous task because the success of the business relies on its process to come up with a great solution

basis or foundation of creating or producing a new product or services in the market

By assessing the needs of the customer, an innovative leader can generate excellent ideas for innovation

- when a problem occurs, there should be a solution. To develop a solution, an innovative leader should be resourceful in such a way that he or she can think of bright ideas.

- will satisfy the needs and wants of the customers.

the innovative leader should provide different choices of products. Customers will begin to seek out the best deals as they will compare the details of the product, read many reviews if the product is poor or excellent and probably compare prices of which is affordable.

After a thorough research and evaluation of the alternatives, an innovative leader should select the best ideas that will be used in the decision-making.

The goal for every marketer is not for a one-time customer but a repeating lifetime customer. One bad experience of buyer’s remorse and your branding perception could be tarnished forever (Flekel 2013). This process depends on the evaluation of the various assessment done for decision-making.