Innovation Management

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In economic terms, innovation is a significant evolution of a product, service or manufacturing process that brings something new, unknown or of using a new technology from basic research. Innovation results from both a new idea, using creativity, a concrete realization and response to consumer expectations. It aims to gain a competitive advantage in meeting the needs of the market. Innovation can be timely and focus on a project, a product. It can also be part of a continuous process of innovation management in order to sustain competitiveness gains it generates. This is called sustainable innovation. Innovation differs from invention or discovery by operational and practical implementation.

"The term technological product development / commercialization of a product performance in order to provide consumers with objectively new or improved services. A technological process innovation is defined as the development / adoption of methods production or distribution of new or substantially improved it may involve changes -. separately or simultaneously, material, human resources and working methods " The Organisation for Economic Co-operation and Development (OECD) – Oslo workbook – 2nd edition – 1997

According to the Oslo Workbook, there are 3 big different categories of innovation. The incremental innovation, the important innovation and the transformative innovation. The incremental innovation implies the introduction of a product that is characterized by a certain degree of novelty and some value creation. It corresponds to what is referred to other types as incremental innovation. An example would be a type of laundry detergent "new and improved". The important innovation implies a considerable degree of novelty of the product and a creation of substantial value for the customer. The Sony Walkman, which allowed for the first time for people to listen to music using a portable cassette player, in 1979 is an example of important innovation. The transformative innovation is less common and requires entirely new products that create substantial value for the customer. In a broad sense, we can consider that the automobile was a transformative innovation because it has completely revolutionized in the early twentieth century the way people were moving.

Through this essay, we will see all the process of an innovation project from a simple idea step by step, in four different parts.

1-The idea

Innovative ideas are more likely to appear in a business when a “fertile ground” is provided. It consists in:

A)Develop and maintain an innovation culture.

This culture thrives:
- By placing innovation at the heart of the development strategy of the company.
- By seeking the support of the largest number in this business venture.
- By facilitating access to information.
- By developing a sense of observation and creativity.

B)Organize the emergence collection and proliferation of new ideas in company.

Different approaches are used for this purpose:
-Suggestion box - Challenges around new good ideas.
-Analysis sessions of competitive products.
-Creativity meetings.
-“Feedback” reports set back from missions.

"Each employee who visits a show notifies all persons potentially interested in the show and collects all their inquiries, documentation ... It behaves as a visitor to "wear many hats" and reports helpful to all of us info avoiding multiple trips... On his return, he wrote a feedback report which is sometimes a source of good ideas and stimulates the mind observing visitor. Beware the " rate of return" of this type of action is low but remember that it only takes one good idea or even a simple suggestion to generate a whole creative process and lead to an innovative product . We are not protected from success. " Jean Jacques BOUILLARD - CEO - BOUILLARD Brothers

C)To be permanently aware of the environment

The business environment contains a wealth of new ideas....
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