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0:00
Hello and welcome to this series
of introductory talks
on business strategy.
My name is Robert Grant.
I'm a professor of
strategic management,
at Bocconi University
in Milan, Italy.
I'm also the author of
'Contemporary Strategy Analysis',
a leading strategic
management textbook
used in business programmes
throughout the world.
0:22
In this talk, our focus
will be on a particular
type of industry.
Industries that are subject
to technological change.
However, as we shall discover,
these industries are
becoming less and less
distinctive as
technological change,
especially that arising
from the diffusion
of digital technology
becomes more pervasive.
In these industries
competitive advantage
is primarily the
result of innovation.
Hence, our focus will be on the
formulation of innovation strategy.
My goals for you
in this talk are,
firstly to gain familiarity
with the technology cycle
and the distinction between
invention and innovation.
Second, to understand what determines
the returns to innovation.
Third, to select strategies that
can best exploit innovation.
Finally, to appreciate
the role of platforms
and network externalities
in innovation.
To this end, I shall
begin by considering
the role of invention
and innovation
within the technology cycle.
I shall then outline the determinants
of the returns to innovation
and the best strategies
to exploit innovation.
Finally, I shall go on to
consider the role of platforms
and network externalities
in innovation strategy.
