Reference no: EM132924181
Historically, as firms grow, they become less entrepreneurial and become more focused on efficiency and consistency. This dynamic, however, is changing as firms realize that size and market share alone are not sufficient to sustain their competitive advantage. What are some of the ways in which firms seek to remain innovative and entrepreneurial, even as they become large or even dominant players?
Please mention very briefly why innovation is important in order for firms to remain competitive but more importantly discuss HOW mature organizations seek to remain competitive.
Some of the issues relevant to discuss include:
· Different types of innovation and their purpose, as well as which types of firms might use these forms and why
· Relevance of what stage of development is the industry life cycle
· How firms should manage and measure their commitment to innovation
· Overall, given the above factors, how might firms organize themselves to ensure accountability around innovation
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Outline the treatment plan for the patient
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Different types of innovation and their purpose
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