Strategic Innovation Harvard Case Solution & Analysis

How a company can successfully attack a market leader? How can he find new ways to compete, that everyone else has missed? Violating the rules of the game in the industry to find new sources of innovation, according to the author. In a study of 30 successful attacks, the author identifies five ways in which they think and develop new plans are: first, to review the business. The company should ask themselves what kind of business he believes in, which in turn determines its customers, and competitors, and its competitive advantages. Second, review the who. Ask: Who is my customer? Companies can find a customer segment that is not currently served by competitors, and design products and services to fill the gap. To be successful, a company must choose a niche that will eventually grow to become a mass market, and the path of the game is a new game in town. Thirdly, to review that. The company must first decide strategically what products or services it will have to sell to your customers. Then he can determine who to target. In order to become a strategic innovator, the company should be the first to identify new or changing customer needs and priorities, and to find better ways to meet them. Fourth, as revised. The company can build on existing core competencies to create an entirely new product or way of doing business. It can share competence business units, reuse skills from one block to the creation of new businesses and the expansion of competences, as he learns new skills. Finally, start the process of thinking at different points. In thinking of new ideas and ways to do things, managers need to expand their vision and change their angles focus. Companies can use one or a combination of the five approaches to kick-start strategic innovation. "Hide
by Constantinos C. Markides Source: MIT Sloan Management Review 20 pages. Publication Date: April 1, 1997. Prod. #: SMR026-PDF-ENG

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