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    by: Manish

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    1 : Innovation By-Manish Kumar Singh
    2 : Introduction The term innovation refers to a new way of doing something. It may refer to incremental and emergent or radical and revolutionary changes in thinking, products, processes, or organizations.
    3 : What is innovation? Innovation is the process and outcome of creating something new, which is also of value. Innovation involves the whole process from opportunity identification, ideation or invention to development, production marketing and sales.
    4 : Definitions Innovation = Invention + exploitation (Ettlie) A new way of doing things, which is commercialized. The process of innovation cannot be separated from a firm’s strategic and competetive context (Porter) Adoption of ideas that are new to the adopting organization
    5 : Innovation - Goal The goal of innovation is positive change, to make someone or something better. Innovation leading to increased productivity is the fundamental source of increasing wealth in an economy.
    6 : Innovation - Business Innovation - Business Innovation may be linked to: Performance and growth through improvements in efficiency, productivity, quality, competitive positioning, market share, etc.
    7 : Innovation – Main Skills Association: it is a cognitive skills that allows creative people to make connections between questions, problems and ideas. Questioning: it is an ability to ask: “What if”, “why” and “why not” and challenge the answers. Close observe details: particularly the details of people´s behavior. The ability to experimenting and networking.
    8 : Dimensions of Innovation the ‘4Ps’ of innovation Product innovation: changes in the things (products or services) which an organization offers Process innovation: changes in the ways in which they are created an delivered Position innovation: changes in the context in which the product or services are introduced Paradigm innovation: changes in the underlying mental modes which frame what an organization does
    9 : Dimensions of innovation Extent of change (radical—incremental) Modality of change (product—process) Complexity of change (component—architecture) Materiality of change (physical—intangible) Capabilities and change (enhances or destroys market/technological capabilties) Relatedness of change (replaces a firm’s existing product or extends it) Appropriability/Imitability (difficult or hard to hang on to) Cycle of innovation (time between discontinuities)
    10 : The innovation management process Simple representation of the innovation process
    11 : Searching –looking for threats and opportunities for change within and outside of the organisation. Technological opportunity Changing requirements on the part of the market Selecting – deciding (strategically from how the enterprise can develop and taking into account risk) what to respond to. Flow of opportunities Current technological competence Fit with the current organizational competence Fit with how we want to change The innovation management process
    12 : Implement – turn potential ideas into a new product or service, a change in process. Acquiring – to combine new and existing knowledge (available within and outside the organization) to offer a solution to the problem Executing – to turn knowledge into a developed innovation and a prepared market ready for final launch Launching – to manage the initial adoption Sustaining – to manage the long term use The innovation management process
    13 : Learning – to learn from progressing through this cycle so that they can build their knowledge base and can improve the ways in which the process is managed. Restart the cycle Failure – why? Refine, improvement ? next generation Learning about technology, routines & organization The innovation management process
    14 : Almost the same - again
    15 : Almost the same - again SCAN Definition: Detecting signals in the environment about potential change (market niches, technology development, etc) Activities Scanning environment for technological, market, regulatory and other signals Collect and filter signal from background noise Scan forward in time Process signals into relevant information for decision making
    16 : Almost the same - again FOCUS Definition: Selection of the various market and technological opportunities. Inputs: (1) the flow of signals coming from the previous phase (2) the current technological base of the firm (3) the fit with the overall business strategy.
    17 : Almost the same - again RESOURCE Definition: Combining new and existing knowledge to offer a solution to the problem. Activities: Invent in-house through R&D activities Create the conditions for creativity Use existing knowledge in-house Technology transfer and knowledge transfer Licensing..etc
    18 : Almost the same - again IMPLEMENT Definition: Close interaction between marketing related activities and technical activities to develop the idea into a marketable product or service. Activities: Develop to maturity Technical development Development of the market Launch After-sales support
    19 : Almost the same - again LEARN Definition Analysing the failures and success to input the innovation process Activities: Continuous improvement Knowledge and IC management
    20 : 7 SOURCES OF INNOVATION IMPULSES INTERNAL unexpected event contradiction change of work process change in the structure of industry or market EXTERNAL Demographic changes Changes in the world view New knowledge
    21 : Strategic Innovation All sizes of businesses engage in highly successful entrepreneurship. Hence it is an activity!! At the heart of that activity is innovation. Sources of innovation: Within a company: Unexpected occurences Incongruities Process needs Industry and market changes Outside a company: Demographic changes Changes in perception New knowledge
    22 : Elements that can jeopardize Innovation Poor Leadership / Organization / Communication Poor Empowerment / Knowledge Management Poor goal definition Poor alignment of actions to goals Poor participation in teams Poor monitoring of results Poor communication and access to information
    23 : Innovation - Conclusion Innovation typically involves risk. A key challenge in innovation is maintaining a balance between process, product innovations and common sense.
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