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Innovation as a management process

Innovation as a management process. INNOVATION AS A MANAGEMENT PROCESS. Innovation is not a singular event , but a series of activities that are linked in some way to others. This may be described as a process and involves:

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Innovation as a management process

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  1. Innovation as a management process

  2. INNOVATION AS A MANAGEMENT PROCESS • Innovation is not a singular event , but a series of activities that are linked in some way to others. This may be described as a process and involves: • A response to either a need or an opportunity that is context dependent. • A creative effort that if successful results in the introduction of novelty • A need for further changes.

  3. The simple linear model can be applied to only a few innovations and is more applicable to certain industries than others. • Pharmaceutical industry is an example of the technology push model; • Food industry can be an example of market pull model. • For most industries innovation is the result of the mixture of the two. • Managers working within these organisations have a difficult task of trying to manage this complex process.

  4. A framework for the management of innovation • Indeed innovation is extremely complex and involves the effective management of a variety of different activities. • How the process is managed needs to be examined • Over the years numerous studies have attempted to understand not only the ingredients necessary for it to occur but also what levels of ingredients are required and in what order. • A study by Business Week and Boston Consulting Group (2006) revealerd further explanations on what makes some firms more innovative than others.

  5. Explanations for innovative capability

  6. Framework to illustrate innovation as a management process • It describes the main factors that need to be considered if innovation is to be successfully managed. • It helps to show that interactions of the functions inside the organisation are important , so too are the interactions with the external environment.

  7. Innovation management framework EXTERNAL INPUTS: macro factors ROI costs; competition. Organisation and business strategy Organisation’s knowledge base accumulates knowledge over time Marketing EXTERNAL INPUTS: societal needs; competitors; supplier partnerships; distributors; customers; strategic alliances. EXTERNAL INPUTS: scientific and technological development; competitors; suppliers; customers; university departments. Research and technology New products Source: Trott, 2005

  8. Within any organisation there are likely to be different functions with some being more influential than others. • Whether one ;lists three or seven misses the point – that it is the interaction of these functions and the flow of knowledge between them that needs to be facilitated.

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