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level: Week 4 (Innovating for growth)

Questions and Answers List

level questions: Week 4 (Innovating for growth)

QuestionAnswer
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)