Answer THREE questionsIn each answer, use appropriate examples or cases to illustrateor give evidence for your reasoning
Early models of innovation featured the demand pull and cost push approachesto understanding innovation. Explain why these models did not capture thecomplexity of the innovation process.Carefully explain how the closed innovation model differs from open innovation?What are the challenges of following open innovation strategies for small andmedium sized firms (SMEs)Using an example (or examples) of your choice, explain how incumbents use IPto protect their competitive advantageStandards sometimes lead to bitter rivalries as firms attempt to secure leadingmarket positions. Using recent examples, discuss how firms compete toestablish their standard as the dominant oneHow useful is Christensen’s theory of disruptive innovation to understandingcompetition and innovation in contemporary markets? Could competition andinnovation be better explained by Schumpeter’s theory of creative destruction?
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