Week 3:sources Of Innovative Ideas For Firms The

Week 3: Sources of innovative ideas for firmsThe late Steve Jobs once suggested that when it comes to ideas, Apple employs enough smart people to enable the company to come up with new innovative products without the need for input from customers.On the other hand, Shehabuddeen (2007) contends that service innovation is very much consumer centric, taking into account the ideas generated through customer engagement in order to improve service provision.Rather than supporting either of these positions, this week you will look at a variety of sources that are used in order to generate new ideas that can lead to value-adding innovations. This week’s readings address the notion of sources of ideas from two different perspectives. Firstly, three distinct concepts on the sources of innovations are introduced: lead user innovation (Brait, 2004), disruptive innovation (Christensen and Bower, 1995) and open innovation (Rogo, Cricelli and Grimaldi, 2014). Each of these will be discussed in more detail in this week’s Key Concept Overview.Secondly, Peter Drucker (1998) takes a more holistic approach by looking at how executives should go about searching for new opportunities, sourcing them from both internal and external sources.This week, you will build on the ideas that