Organizational cultural lag is most closely related to which two innovation concepts and why?
What will be an ideal response?
*Exploitative Innovation focuses on the enhancement and reuse (exploitation) of existing products and
processes
*Exploratory Innovation focuses on risk-taking, radical thinking, and experimentation
*Researchers believe organizations need to strike a balance between the contradictory natures of
exploitative and exploratory innovation
*Many organizations play it safe by focusing on the refinement of existing products rather than taking
risks to explore new avenues.
*This approach can lead to organizational cultural lag, an effect that occurs when organizations fail to
keep up with emerging innovations, putting themselves in danger of missing lucrative opportunities to
capitalize on them
*To avoid cultural lag, organizations need to continuously focus on their existing products and processes
at the same time as they are investigating new innovations
You might also like to view...
Which of the following is true of business markets?
A) Buyers are usually not skilled at comparing competitive product offerings. B) Buyers have limited purchasing power. C) Property rights, language, culture, and local laws are the most important concerns. D) Products sold in such markets are usually highly standardized. E) Business buyers purchase goods to make or resell a product to others at a profit.
Describe the various legislative actions that have been taken to regulate the manner in which online, social media, and mobile operators obtain and use consumer information
What will be an ideal response?
Businesses require or expect all of the following from a community EXCEPT ________
A) adequate municipal services B) inexpensive construction costs C) good labor supply D) reasonable degree of support for the business and its products
McCall Automotive sells a large number of well-established minivans, such as the Dodge Caravan and Honda Odyssey. Now, the dealership has a new vehicle that it must position–a hybrid minivan
What will be the best strategy for positioning the new hybrid minivan? A) hiring a new sales team to sell the hybrid minivan B) focusing on key features of the hybrid minivan C) highlighting the service provided by the dealership D) creating a need and desire for a hybrid minivan E) sustaining the dealership's current minivan market share