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Innovation Management
1. Provide a summary of the main issues affecting successful product launch and subsequent diffusion of innovation in the market. Explain how decisions taken earlier in the innovation process impact upon this commercialisation stage. Discuss how through effective innovation management organisations might maximise the chances of successful commercialisation.
2. Using the Wine Industry case study covered in this unit illustrate how cork lost market share to screw-cap closures. You should discuss the role played by the wine producers and the wine retailers. Develop a R&D strategy for the cork industry to help it respond to this challenge.
3. Bill Gates (2008), the founder of Microsoft said: “We control sales, profits and innovation”. Discuss whether firms can manage innovation and the range of mechanisms they can put in place to facilitate innovation and new product development.
4. Using the Cyclic Innovation Model (CIM) (Trott, 2011) illustrate the innovation process within W.L.Gore Assoc. You should use the five key parts of the model to identify activities that contribute to the innovation process at W.L.Gore Assoc.
5. Explain how innovation can be managed and discuss the organisational characteristics that have been identified as facilitating innovation.
6. What is the role of Intellectual Property within innovation management. Using the Dyson case illustrate why some firms view IP as a benefit and others view it as a hindrance. Why is James Dyson so critical of patent law?
