Strategic Management Answer 1: Radical Innovations

Strategic Management

Answer 1: The degree of innovativeness that falls in a continuum extends from incremental
towards the radical and it can be explained as below:
Radical Innovations:
 It normally occurs due to technological change.
 It is very disruptive and can revolutionise or transform the company.
 It gives breakthrough towards the innovations (Sharma Thomas and Konsynski, 2017).
 It also leads a way towards the services and products which can be patented by the
company or to gain the competitive advantage.
Incremental Innovations:
 It helps the company to enhance their existing practices or to make small or major
improvements within their process and products.
 It helps the company to decrease the costs of their products and services.
 This type of innovations are suitable for small organizations which is less complex and is
less risky process.
Answer 2: For every organization innovation creates dilemmas and these dilemmas can help the
company towards innovations or can hinder the innovations (Wang, Y and et.al., 2017). Some of
the major dilemmas which are faced by the organizations while deciding that what innovations
projects have to pursue are as follows:
 Whether an organization should invest in the development or in innovations
 Should an organization use solution to problem or problem to solution approaches.
 Whether an organization should use incremental ideas or should it use disruptive ideas.
 Should company build content expertise or build an innovative team with diversity.
 Another dilemma which is faced by the organization is whether a company should use
convergence or divergence.
Answer 3: There are various steps which can be taken by the organization in order to manage
their innovation process are as follows:
Step 1- An organization should observe their customers closely in order to uncover their
opportunities and problems for this a company should try to build a customer journey map for
achieving the information about what customers are experiencing, thinking, feeling and doing.
Step 2- An organization should try to create new solutions, here a company can make use of
customer insights for exploring the new ways of making profits.