1.Organizational innovation is defined as doing things differently in an organization.
2.A technology cycle begins with the “birth” of a new technology and ends when that technology reaches its limits and “dies” as it is replaced by a newer, substantially better technology.
3.Nearly all technology cycles follow a bell-shaped pattern of innovation.
4.In 1977, at age 23, Jake Burton left a job at an investment firm to work in a wood shop where he developed the first marketable snow board. Three decades later, he is the owner of Burton Snowboards, the leader in the $2.3 billion snow sports industry. Burton is responsible for the beginning of a technology cycle.
5.Technology cycles for low-tech products follow the typical U-curve pattern of innovation.
6.The typical S-curve pattern of innovation indicates that both early and late in the technology cycle, increased effort (i.e., money, research and development) brings only small improvements in technological performance.
7.Technological innovation makes it possible not only to duplicate the benefits obtained from a company’s distinctive advantage, but also quickly creates an opportunity to turn a company’s competitive advantage into a competitive disadvantage.
8.Companies that want to sustain a competitive advantage must understand and protect themselves from the strategic threats of innovation.
9.In 2007, a startup company called Optovue introduced a new medical technology that used an infrared beam to probe a patient’s eyes for ailments like glaucoma. Even though this new technology was a significant breakthrough in treatment, it is not a technological discontinuity as it is not part of an innovation stream.
10.Batteries currently used in cell phones have an annoyingly short life. The development of a new power source for cell phones would be an example of technological substitution.