Innovation Process

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Innovation Process

In order for organizations to become successful or maintain an ongoing success, they need to accommodate any necessary changes needed while remaining on a competitive edge. With this known, companies such as Coca-Cola have easily shown their success by becoming the largest manufacturer, marketer, and distributor of nonalcoholic beverages by which the company has products sold in 200 counties world wide. In this paper Team B will identify and explain the four phases of the innovative process. Using Coca-Cola as the subject company, there will also be discussions on the applications of the innovative process and identifying the tools and techniques that can be found useful in the process. Finally, there will be examination regarding the measurement of results and the steps Coca-Cola can take to ensure continual improvement. Four Basic Phases of Innovation

In the 1960s the National Aeronautics and Space Administration pioneered a concept of project management that included a phased model similar to a funnel. This innovation funnel includes four phases in which each of the phases has to be evaluated and accepted before moving on to the next. This was also known as the first generation innovation process model that includes the phases of preliminary analysis, definition, design, and operation.

The preliminary analysis constitutes a basic design and plan to show proof of a concept or idea. The definition phase of innovation addresses the preliminary plan where the requirements will be drawn out and understood, schedules are put into place, and details are thought of to initiate the development process. The interim of this phase is crucial to identify a budget, what are possible mistakes, or other problems that may hinder the project. The design phase is the point of true development. “True design is both science and art; analysis and synthesis. It is compromise in the balance of conflicting requirements. It is drawing on and improving...
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