David Teece and Gary Pisano Integrate the Various Dimensions of Innovation

question 5

Multiple Choice

David Teece and Gary Pisano integrate the various dimensions of innovation strategy into what they call the 'dynamic capabilities' approach.This emphasizes the need to:

• A)Manage strategically to adapt and re-configure capabilities.
• B)Make significant investments in emerging technological trajectories.
• C)Adopt a strategic position as market leader.
• D)Strategically anticipate future technologies and markets.

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Definitions:

Groupthink

is a psychological phenomenon in which the desire for group conformity leads to irrational or dysfunctional decision-making outcomes.

Unanimity

Complete agreement among all members of a group or committee, often achieved through consensus.

Escalation Of Commitment

The decision-making error of investing additional resources in a failing course of action due to commitments already made.

Market Share

The percentage of an industry's sales that a particular company controls, signifying the company’s size and competitiveness in the market.