Students' zone - Management Recommendations

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Chapter 2

Management Recommendations

• Analyse market conditions and identify where innovations can have
  strong impacts.
  
• Review your markets using the Economic Theory of Profit. This should
  determine when and where profit margins are likely to be squeezed, and
  where suitable counter-actions will be necessary.
• Determine how economic cycles are influencing companies’ investment
  levels. This should identify opportunities to innovate when others are
  focusing on are cost-saving.
• Apply the insights provided by diffusion theory to individual innovation
  projects; managing the six factors that can lead to faster rates of adoption.