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Inspiring Action: The Role of Innovation and Invention in Leadership

This lecture explores the distinction between invention and innovation, highlighting their significance in leadership and business success. Invention refers to the creation of new ideas, while innovation focuses on the practical application of these ideas into marketable products or services. Drawing on themes from Simon Sinek's TED Talk, it emphasizes how great leaders inspire action by leveraging innovation for competitive advantage. The discussion integrates examples from Apple's product evolution and strategic moves to illustrate the impact of timing and opportunity in a rapidly changing industry.

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Inspiring Action: The Role of Innovation and Invention in Leadership

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  1. Lecture 4 20/10/11

  2. http://www.ted.com/talks/lang/eng/simon_sinek_how_great_leaders_inspire_action.htmlhttp://www.ted.com/talks/lang/eng/simon_sinek_how_great_leaders_inspire_action.html

  3. Invention or Innovation • Invention is the formulation of new ideas for products or processes • Innovation is all about the practical application of new inventions into marketable products or services • These concepts straddle the line between conceptualization and actualization • Invention constitutes the initial creation of a new product, technique or practice, while innovation represents the practical fulfilment of one or (as often is the case) multiple products, techniques and/or practices.

  4. Latest Apple Products

  5. Apple Articles • http://mybroadband.co.za/news/business/15961-Steve-Jobs-the-state-Apple.html • http://www.bbc.co.uk/news/business-11570631 • http://www.bbc.co.uk/news/technology-11521742 • http://www.appleinsider.com/articles/10/03/01/apple_ipad_production_hit_by_manufacturing_bottleneck_report.html • http://theappleblog.com/2010/09/03/apple-doubles-ipad-production-may-triple-soon/

  6. Apple Case – Key Themes: • Dealing with the changing structure of an evolving industry • Achieving sustainable competitive advantage • Accurately timing strategic moves • Using innovation to create competitive advantage

  7. Broader Comments • Differentiate between product advantage and competitive advantage • Focus ‘too insular’ at one time • Multiple standards may co-exist when there’s a big gap between them • Companies must pay careful attention to timing and windows of opportunity

  8. The PC Market

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