UMass Amherst OIM 210 - Tophat Structure (2 pages)

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Tophat Structure



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Tophat Structure

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This lecture discussed the differences between sustaining innovation and disruptive innovation as well as the advantages to disruptive innovation. Also touched on Tophat and the Design Assignment


Lecture number:
1
Pages:
2
Type:
Lecture Note
School:
University of Massachusetts Amherst
Course:
Oim 210 - Intro to Business Info Systems

Unformatted text preview:

OIM 210 1nd Edition Lecture 1 Outline of Last Lecture I N A Outline of Current Lecture II Tophat Structure III Design Assignment IV Rules of Innovation a Disruptive Innovation Current Lecture Disruptive facts o 90 of all companies are unable to sustain above average growth o 80 of venture back businesses fail o 75 of new products launched by companies 5 years of older fail o Most products and services fail Steel industry was one of the biggest by 1955 but were disrupted and knocked out of the top by 1975 Companies must reinvent themselves in order to remain relevant o It is almost a guarantee that a corporation will be disrupted at some point Sustaining innovation is about doing it better Essential to remain relevant In the contrast Disruptive Innovation makes products more simple and more affordable to disrupt the industry Sustaining Innovation Improves the performance of established products for mainstream customers in major markets Disruptive Innovation attempts to supply to the low end Customer as opposed to the high end customer Precursors to Innovation o A Core Business that is in Control o A Game Plan Targeted Innovation Portfolio o Resource Allocation o Disrupt Competitors Not Customer Incumbents nearly always win the sustaining war These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute Entrants who use Disruptive Innovation have a better chance of beating the incumbents because of their ability to create a new business strategy and be attractive to low cost customers Low Cost strategy only works when you are fighting against a high cost competitor Good companies survive by setting up separate businesses with an unfettered charter to kill the mother company Cannot listen to your customer because in disruptive innovation the customer does not know what they want Testing for Disruptive Ideas o Test 1 Is there a large enough population o Test 2 Good enough



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