Chat with AIExam 7: Section 4: Strategy: How Do Businesses Generate a Successful Strategy
Toyota introduced a family minivan, called the Sienna, with 8 seats and sliding seats to allow the ease of entry for families with 2 or more child car seats. Explain what type of innovation would this be classified as?
(35) 
VerifiedIncremental innovation
-Making relatively minor improvements or modifications to an existing product or practice in the hopes of differentiating it from the competition.
Amazon has recently introduced robotic, flying delivery drones and would like to use them to deliver products directly to consumers, eliminating the need for postal or courier delivery services. Describe the typical 4 stages in the evolution of a new technology.
(37) Verifieda. Technological discontinuity
-Technological discontinuities tend to appear at rare and irregular intervals.
b. Era of Ferment
-Technological discontinuities trigger an era of ferment, a period of substantial product-class variation that ends with the emergence of a dominant design.
c. Dominant Design
-A dominant design allows for the standardization of parts and the optimization of organizational processes for volume and efficiency; therefore, in the specific phase, competition is based more on price than product features.
d. Era of incremental change
-Once a dominant design emerges, future technical progress consists of incremental improvements that elaborate on the standard. The era of incremental change (usually coinciding with the industry maturity stage) is a much longer period of relative stability and equilibrium. These long periods of incremental change are punctuated by technological discontinuities, hence the reference to a punctuated equilibrium.
Explain and provide examples of how technology has changed in the workplace since 1980.
(33) Verified-First IBM computer invented in 1981, replaces typewriters; office workers now use computers
-Internet (world wide web), invented in 1991, allows company web sites (ie. intranets); allows people to work at home via a network
-Google, invented in 1998, allows an easy search engine to research business, market and other information
-Blackberry, the first smartphone , invented in 1999, allows employees to send emails from their phones, communicating and answering questions on the go
-Facebook, created in 2004, allows employers to search potential hires before interviewing them or offering a contract
Greek yogurt is a new, healthy product. What stage of the lifecycle industry would this product fall under? Explain what characteristics this industry would have?
(33) 
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