Ways in which strategic ladvantage can come from innovation: 1 If Mechanism Strategic Advantage Does the company do this? not, is it able to? Examples 2 Novelty in product or service 3 Novelty in process 4 Complexity 5 Legal protection of intellectual property Offering something no other I company offers offering something in ways others cannot match; faster, I lower cost, customized, etc. Offering something that others find difficult to master Toffering something that others cannot do unless they pay a licensing fee I First mover advantage (first to market - worth significant market share) Fast follower advantage (could make better sense to watch others make early mistakes and Imove fast with a follow-up Iproduct) 6 Timing 7 I 8 Robust design Offering somethin that provides the platform on which other Ivariations and generations of a I product can be built 91 10 | I offering something that represents a completely new i product or process concept; a i different way of doing things Ithat makes old ways redundant or unnecesse 11 Re-writing the rules 12 1 Rethinking ways in which bits of the system work together (e.g. building more effective Inetworks, outsourcing and coordinating a virtual company, etc.) 13 Re-configuring the parts