GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Cost Leadership
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Prospector
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Defender
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Differentiation
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Detailed explanation-1: -Innovation strategies can be classed as proactive, active, reactive and passive (Dodgson et al.
Detailed explanation-2: -Prospector strategy This is the most aggressive of the four strategies. It typically involves active programs to expand into new markets and stimulate new opportunities. New product development is vigorously pursued and offensive marketing warfare strategies are a common way of obtaining additional market share.
Detailed explanation-3: -Five critical elements lie at the core of any successful innovation strategy: Innovation Culture, Leadership Buy-In, Enable Team Members, Reward and Recognize, and Defined Metrics and KPIs. These concepts are imperative to achieving results and maintaining a scalable, sustainable innovation model.
Detailed explanation-4: -1-Have a Clear Objective and Strategic Approach. 2-Know Your Target Audience and Top Competitors. 3-Define Your Value Proposition. 4-Assess and Develop Your Core Areas of Strength. 5-Establish Your Innovation Systems and Techniques. Be Focused. More items •13-Jul-2022