General Concepts of Innovation Mgmt
NOTES:
GENERAL CONCEPTS OF INNOVATION MGMT
1) CHARECTERISTICS OF INNOVATIVE 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
• Cooperation with external experts (universities, research laboratories…)
• Proper rate of risk-taking
• Employees’ motivation (the employees are willing to improve the product and the operation of the whole company)
• Continued education of employees
• Ability to finance the innovation activities
• Project-based approach and ability to manage projects
Definition:
• Innovation means something new or different
• Innovation management is the discipline of managing process in innovation
• It includes the set of tools that allow manages to co-operate with common understanding
• Innovation … is generally understood as the introduction of a new thing or method ... Innovation is the embodiment, combination or synthesis of knowledge in original, relevant, valued new products, processes or services.’
AREA OF INNOVATION: • 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
Business model innovation – changing the way business is done, for example, EasyJet, Dell computers and global outsourcing
Supply chain innovation – improving the way
GENERAL CONCEPTS OF INNOVATION MGMT
1) CHARECTERISTICS OF INNOVATIVE 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
• Cooperation with external experts (universities, research laboratories…)
• Proper rate of risk-taking
• Employees’ motivation (the employees are willing to improve the product and the operation of the whole company)
• Continued education of employees
• Ability to finance the innovation activities
• Project-based approach and ability to manage projects
Definition:
• Innovation means something new or different
• Innovation management is the discipline of managing process in innovation
• It includes the set of tools that allow manages to co-operate with common understanding
• Innovation … is generally understood as the introduction of a new thing or method ... Innovation is the embodiment, combination or synthesis of knowledge in original, relevant, valued new products, processes or services.’
AREA OF INNOVATION: • 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
Business model innovation – changing the way business is done, for example, EasyJet, Dell computers and global outsourcing
Supply chain innovation – improving the way