Question

Guidelines for competing in a dynamic, innovative market in which a winning technology has not yet become dominant include which of the following? (Check all that apply.)

a. Move slowly after recognizing that a mistake has been made before starting out in another direction.
b. Be cautious about overcommitting in an attempt to be seen as a leader in the market.
c. Apply knowledge gained from an innovation that has failed to new market opportunities.
d. Be aware that making initial correct innovation choices does not prevent later mistakes.

Answer 1

Option b, c and d are the correct answer. The guidelines for competing in a dynamic, innovative market include being cautious about overcommitting, applying knowledge from failed innovations, and being aware of potential future mistakes.

Step-by-step explanation:

The guidelines for competing in a dynamic, innovative market where a winning technology has not yet become dominant include:

1. Being cautious about overcommitting in an attempt to be seen as a leader in the market. This is because overcommitting can lead to excessive costs and potentially hinder the ability to adapt to changing market conditions.
2. Applying knowledge gained from failed innovations to identify new market opportunities. Learning from past failures can help in refining strategies and identifying areas with potential for success.
3. Being aware that making initial correct innovation choices does not guarantee immunity from future mistakes. It is important to remain cautious and adaptable, as market dynamics can change quickly.