Select an industry and consider how the industry life cycle has affected business strategy for the firms that industry over time

Discussion Question 7.1

Select an industry and consider how the industry life cycle has affected business strategy for the firms that industry over time. Detail your answer based on each stage: introduction, growth, shakeout, maturity, and decline.

Discussion Question 7.2

Describe a firm you think has been highly innovative. Which of the four types of innovation radical, incremental, disruptive, or architectural-did it use? Did the firm use different types over time?

Discussion Question 7.4

Much has been said about the competive advantage gained from innovations such as the Internet, high technology, gadgets, and apps. The chapter points out, however, that low-technolgy innovations such as the razor-razor blade business model can also create value. Think of other low technology innovations that are/were novel, useful and successfully implemented so that the innovating firm gained a competitive advantage. Find information about the entrepreneurial story behind the innovation.