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Innovation Management

Successful innovating companies systematically collect innovation ideas from employees, foster creativity, evaluate ideas, and encourage good teamwork and project management. An innovation is the introduction of a new product, process or technology to the market. There are various types of innovation including product, process, marketing, organizational, and technological innovations. Innovations can range from incremental improvements to radical or systemic changes. The innovation process involves research and development, production, and marketing. To innovate effectively, companies must focus on solving customer problems simply and launching innovations on a small scale first.

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23 views5 pages

Innovation Management

Successful innovating companies systematically collect innovation ideas from employees, foster creativity, evaluate ideas, and encourage good teamwork and project management. An innovation is the introduction of a new product, process or technology to the market. There are various types of innovation including product, process, marketing, organizational, and technological innovations. Innovations can range from incremental improvements to radical or systemic changes. The innovation process involves research and development, production, and marketing. To innovate effectively, companies must focus on solving customer problems simply and launching innovations on a small scale first.

Uploaded by

احلام سعيد
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Introduction

Basic concepts
Importance of innovations Management
CHARACTERISTICS OF SUCCESSFUL INNOVATING
COMPANIES
• Systematic collection of all impulses that could lead to innovation
• Creativity of employees
• Ability to evaluate the possibility of the innovation idea
• Good team work
• Project-based approach and ability to manage projects
Definition of innovation
• “Technological innovations are defined as new products and
processes and major technological modifications to products and
processes. An innovation is considered performed if it is introduced
to the market (product innovation) or implemented in the production
process (process innovation). Innovation includes many research,
technological, organizational, financial and commercial activities
• R&D represents only one of these activities and can take place during
various stages of the innovation process. It can play not only the role
of the original source of the innovation ideas but also the role of
problem solution framework, which can be turned to at any stage of
the implementation.
OECD, Frascati Manual 1992

• Product innovation
– A good or service that is new or significantly improved. This
includes significant improvements in technical specifications,
components and materials, software in the product, user
friendliness or other functional characteristics.
• Process innovation
– A new or significantly improved production or delivery method.
This includes significant changes in techniques, equipment
and/or software.

• Marketing innovation
– A new marketing method involving significant changes in
product design or packaging, product placement, product
promotion or pricing.
• Organizational innovation
– A new organizational method in business practices, workplace
organization or external relations.
• Technological innovations – based on specific technology,
invention, discovery,
• Social innovations – in critical historic periods more important than
technological ones (mail, educational systém, social systém, health
care, …)

 DEGREE OF NOVELTY
• Incremental innovations
• Radical innovations
• Systemic innovations
Classification of innovations

 INNOVATION PROCESS
• Research and development (R&D)
• Production
• Marketing
Innovation is an opportunity for something new, different. It is always based
on change.
Innovators do not view any change as a threat but as an opportunity
 FOCUS
• Use the limited resources in the most effective manner; focus on one
of the following:
– Operational output
– Top-quality products
– Perfect knowledge of customers
 RECOMMENDATIONS
• Solve the correct problem correctly – be effective and efficient
• Manage innovation as a project
• Analyze risks
• Use models, scenarios, computer simulation
• Study examples of succesful and unsuccesful innovation projects

 WHAT TO DO
1. Start with analysis and study of opportunities.
2. Go among people, ask questions, listen
3. Effective innovations are surprisingly simple. They must be focused
on specific needs and on specific final products.
4. Effective innovation start on a small scale.
5. A successful innovation always tries to win a leading position,
otherwise you create opportunities for your competitors.
 WHAT TO AVOID
1. Don’t try to be too “clever”. All that is too sophisticated will almost
certainly go wrong.
2. Don’t try to do too many things at once. Focus on the core of the
problem.
3. Don’t try to make innovations for the future but for today. An
innovation can have a long-term impact but there must be an
immediate need for it.
 Three conditions for innovations
1. Innovation means work, hard, concentrated and thorough work. If
these qualities are lacking then there is no use for the big talent,
cleverness or knowledge.
2. Successful innovations must build on your strong points. The
innovation must be important to the innovator.
3. Innovation must focus on a market, must be controlled by the market
(market-pull).

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