1. Part of the dynamics of leadership include dealing with innovation. Explain t
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Question
1. Part of the dynamics of leadership include dealing with innovation. Explain the 4 Ps of innovation. Give an example of a product that has gone through an innovative change. Which one of the 4 Ps of innovation did the product go through in order to produce an innovative change? Is there any overlap with another one of the Ps? If so, which one? Explain.
2. What is meant by mass customization? How can market conditions and consumer desires affect customization? Explain any price considerations that must be factored into the mass customization decision.
3. Explain the difference between rationalist and incrementalist strategy. Who are the main protagonists of the theories? How have the debates regarding these theories had implications for management?
4. What are the different network perspectives in innovative research? Why do authors differ in how they define innovation networks? How can networks influence actions of its members?
5. Explain the importance of Mintzerg’s structural archetypes? How did these categories have implications for innovation management? How does Mintzberg’s models provide information about which firms are likely to fail?
Explanation / Answer
1) 4 P's of Innovation -
Let's take an example of a 4P innovation organization - Starbucks
Howard Schultz was not a founder of Starbucks. It was founded by three people in a small place with a passion for coffee. Starbucks initially sold only the traditional filter coffee to all its customers. It could not change its strategies and finally had to sold off at $4 million, which was brought by Howard Schultz. After the takeover, it got transformed into an brand which was preferred and loved by most of the people in America. Starbucks is a 4P innovation organization. Let's see how.
Product Innovation - Initially Starbucks was selling a traditional one kind of a filter coffee. After Schultz too over, he introduced different products like latte coffee, espresso coffee, Italian coffee, other beverages and food items like burgers, hot dogs were also introduced.
Process Innovation - The way a coffee is made is completely changed after Schultz took over Starbucks. Starting from manufacturing the powder from the coffee bean to blending the coffee, all the processes have been changed. He ensured every coffee comes with some message.
Position Innovation - Earlier Starbucks was not known to most of the population. It was just an other place. Schultz changed the way how coffee is made. He made it a brand in such a way that people could actually correlate the need of the coffee with Starbucks.
Paradigm Innovation - The entire framework of how a coffee should be made and sold, increasing the brand value that is associated with the product and changing the underlying model of the organization is an example of paradigm shift in terms of innovation.
2) Mass Customization : Mass Customization is associated with custom made mass production. Mass customization means mass production of the goods which is custom made and tailored as per the customer requirements in a low cost which thereby is a win-win situation to both the parties.
Mass customization ensures that the consumers get the products in a customized form and in a way consumer desires. If the market conditions deprive, like if the raw material costs, labor costs etc increases, the fixed and the variable costs also increase. Then the cost of the customized goods also increases. If the consumer wants as per his tastes and desires, it might increase the overall cost. This affects the customization as well.
Not all consumers are ready to pay the price. People want low cost and high quality products. In a mass customization, consumer gets what he/she wants at a low cost. Mass customization does not mean there are no wastages. Mass customization will also produce unnecessary waste, unnecessary cost and complexity due to which the overall cost of the produce increases.
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