They face the double challenges of the way to unify apparently contradictory standpoints as firms strive to lead through innovation. The first is the wish to bring actually new products to market and follow a "market-driven" move toward product development, which often will be conservative in nature. The second is preventing the "innovator's dilemma," or becoming the prisoner of an once-but-no-more successful technology because of the development of an apparently "disruptive" newer technology. Presents a framework for helping organizations concurrently deal with these two problems, which are rooted in the understanding that while businesses may create a set of (technical) characteristics, consumers buy benefits.
By focusing their efforts on meta-technologies, businesses can be innovative while remaining sensitive to customer needs and concurrently be market-driven and "market-driving." This outlook offers a potential solution to the "innovator's dilemma," since at the benefit level technologies are rarely tumultuous, but instead "constant" and evolutionary.
PUBLICATION DATE: November 01, 2007 PRODUCT #: CMR381-HCB-ENG
This is just an excerpt. This case is about INNOVATION & ENTREPRENEURSHIP
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