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INNOVATION
MANAGEMENT
WHAT IS AN INNOVATION?

 It is an idea, practice or object that is perceived as new by

an individual or other unit of adoption.
 It is a use of new knowledge to offer a new product or
service that customers want. Thus, it is
Invention + Commercialization.
“Innovation is the search for and the
discovery, developed, improvement, adoption and
commercialization of new processes, new products and
new organization structures and procedures.”
Innovation management
CHARACTERISTICS OF INNOVATION
 There is an object or target which is being changed.

 It can be a product, a process, an individual’s

lifestyle, an organization's strategy, a society culture.
 Innovation vary in extent or magnitude i.e. degree to
which one deviates from the past.
 It is closely related to problem solving since generation
& implementation of ideas for change never transpire
without difficulty.
 A final characteristic is the impact of the change, the
significance or range of its effects.
Difference between Innovation & Invention
Invention

Innovation

1. It’s creation of new product, service
or process.

1.

2. May not be commercialized

2. Results into commercialization

3. It can be autonomous or induced

3. Usually induced

4. Can be for economic or noneconomic motive

4. Economic motive

5. Usually restricted to R&D centre

5.Spread across the organization

6. May bring few changes in
organization

6. Brings organizational change

7. Precedes innovation

7.Succeeds invention

It is the introduction of new product,
service or process into the
marketplace.
WHY INNOVATE ???
TURBULENT AND
RAPIDLY CHANGING
ECONOMY

ORGANIZATION
PREPARE
THEMSELVES TO
INNOVATE ON A
CONTINUING BASIS

OTHERWISE THEIR
SURVIVAL CHANCES
ARE SERIOUSLY
THREATENED
GOALS OF INNOVATION
 Improving quality

 Creation of new markets
 Extension of the product range
 Reducing labor cost
 Improving production process
 Reducing materials
 Reducing environmental damage
 Replacement of products/services
 Reducing energy consumption
 Conformance to regulations
SOURCES OF INNOVATION
 Organizational Structure.

-

Organic structures positively influence innovation. As there is lower
vertical differentiation, formalization, centralization. Organic
organizations facilitate the flexibility, adaptation & cross-fertilization.
 Long tenure in Management
- Managerial tenure apparently provides legitimacy & knowledge of how
to accomplish a task and obtain desired outcomes.
 Slack Resources
- Having an abundance of resources allows an organization to afford to
purchase innovations, bear the cost of instituting innovations & absorb
failures.
 Interunit Communications
- Innovative organizations are high users of committees, task forces,
cross-functional teams that facilitate interaction across departmental
lines.
TYPES OF INNOVATION
 Product & Process Innovation

 Open & Closed Innovation
 Incremental & Radical Innovation
 Modular and Architectural Innovation
PRODUCT & PROCESS
INNOVATION
Open & Closed Innovation
PROJECT
START
Concept
Development

CONCEPT
FROZEN

MARKET
INTRODUCTION

Implementation

Closed Model For Innovation
PROJECT
START

CONCEPT
FROZEN
MARKET
INTRODUCTION

Concept
Development
Implementation

Open Model For Innovation
INCREMENTAL INNOVATION
Improving Inherent
Processes/Inputs to achieve
Higher Output
RADICAL INNOVATION

Displacing Existing Technology
Architectural
Innovation
Change in
Product Structure

Steam Engine
of Car

Modular
Innovation
Change in
Component
Technology

Fuel Engine
of Car
INNOVATION PROCESS
 Recognizing or scanning the environment.
 Aligning the overall business strategy & proposed
innovation.
 Acquiring technology from outside.
 Generating technology in-house.
 Exploring & selecting the most suitable response to the
environment.
 Executing & implementing innovation.
 Learning lessons for improvement.
 Developing the organization.
INNOVATION OCCURS AT
THREE LEVELS
NATIONAL LEVEL

GOVT. POLICIES &
SUPPORT

ENTERPRISE
LEVEL

ENTERPRISE
POLICIES,
SUPPORT &
INITIATIVES

INDIVIDUAL LEVEL

INDIVIDUAL &
GROUP
INNOVATION
ACTIVITIES
SEARCH

SELECT

LEARN
TIME

IMPLEMENT
INNOVATION MANAGEMENT
 Innovation management is all about

- learning to find the most appropriate solution
- to the problem of consistently managing

aforestated process
- doing so in the ways best suited to the particular
circumstances in which the organization finds
itself.
 It is the search of effective routines.
 It is about managing the learning process to deal
with the challenge of the innovation process.
Innovation Management
Management of Innovation comprises three
things:
- linking of engineering,
- science &
- management disciplines
 to plan, develop & implement technological

capabilities to shape & accomplish the strategic
& operational objectives of an organization.
Need/Objectives of Innovation Management

 To reap in the economic benefits of new technological
inventions by commercializing them on time
 To integrate technology into overall strategic objective of
the organization.
 To get into and out of the technologies faster and more
efficiently.
 To accomplish technology transfer.
 To reduce new product development time.
 To manage large ,complex & interdisciplinary projects
and systems.
Organizational Process for Innovation
Management
Market
Learning

Setting
Unreasonable
Expectations
& Stretching
the Business
Definition

Effectively
Building
Business
Models

Listening
to New
Voices

Creating a
Cause &
not a
business

Designing
an open
market for
:Ideas, Capit
al, Talent

Building
Partnership
and
Alliances

Lowering the
risks of
experimentation

Paying the
Innovators
Well
VALUE INNOVATION(VI)
 One of the most prominent programmatic approaches to
innovation currently in use.
 It is different from building layers of competitive
advantages & does not means segmenting market &
accommodating customer needs.
 It’s main focus is on offering those products & services
which creates a superior buyer value in existing markets &
enables a quantum leap for the firm to create new
markets.
 Value Innovation also differs from technology innovation.
New technology developed does not becomes a value
innovation unless it is cheap enough for MASS BUYERS.
Three Basic

Building Blocks
of Strategy

Competition

Customers

Corporate
Capabilities

Conventional

Value Innovation

Focus

Process

Outperforming the
Competition

Retaining & better
satisfying existing
customers

Leveraging & extending
the current capabilities
of with other companies

Seeking Radically Superior
value to capture the entire
mass market

Targeting the mass of buyers by
following non-customers closely
& willingly losing some
existing customers

Willing to combine
a company
capabilities
CHALLENGES FACED WHILE
MANAGING INNOVATION
1. Why Change?
- Only innovation matters.
2. What to Change?
- Ranging from changes in product & service to the
ways(i.e. process innovation).
3. Understanding Innovation.
- Understanding common problems associated with partial
views of innovation.
4. Building an Innovation Culture.
- Managing Innovation is all about creating firm specific
routines(i.e. repeated, reinforced patterns of behavior)
which define its particular approach to the problem.
CONTD……….

5. Continuous Learning
- Firms constantly needs to develop their routines to
deal with the environmental challenges.
6. High Involvement Innovation
- Higher level of participations in innovation represents
a competitive advantage.
7. Managing Connections
- In current scenario business organizations are required
to operate in relationship with others rather than in
splendid isolation.
BARRIERS TO INNOVATION
 External Barriers

-

Market-Related Barrier
Government & its Policies
Others (Technical, Societal, & Inter
Organizational Barriers)
 Internal Barriers
- People Related
- Structural
- Strategy Related
LEARNING TO MANAGE INNOVATION
HOW TO OVERCOME THESE BARRIERS

SHARED
VISION,
LEADERSHIP &
THE WILL TO
INNOVATE.

APPROPRIATE
CULTURE

• Clearly articulated &
shared sense of purpose
• Stretching strategic intent
• Top management
commitment.
• Encouraging creativity
• Enabling learning &
interaction
• Balancing between ‘organic
& mechanistic’
CONTD.
KEY
INDIVIDUALS
EFFECTIVE
TEAM
WORKING
CONTINUING &
STRETCHING
INDIVIDUAL
DEVELOPMENT

• Promoters, champions &
other roles which facilitate
innovation
• Use of teams at crossfunctional
&
interorganizational level
• Investment
in
team
selection & building
• Education & training of
employees to ensure high
level
of
skills
&
competence
EXTENSIVE
COMMUNICATION

CREATIVE CLIMATE

LEARNING
ORGANISATION

• Within & between the
organization and
outside
• Positive approach to
creative ideas,
supported by relevant
motivation systems
• High level of
involvement within &
outside the firm in
proactive
experimentation
• Knowledge capture &
dissemination
CONCLUSION
Enterprises should emphasize

Planning &
Controlling
Systems
With high
degree of
Flexibility

Respect for
Individual
Initiative
And
Personal
Growth

Tolerance for
mistakes
And
Allowing
Room for
Failure
Innovation management

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Innovation management

  • 2. WHAT IS AN INNOVATION?  It is an idea, practice or object that is perceived as new by an individual or other unit of adoption.  It is a use of new knowledge to offer a new product or service that customers want. Thus, it is Invention + Commercialization. “Innovation is the search for and the discovery, developed, improvement, adoption and commercialization of new processes, new products and new organization structures and procedures.”
  • 4. CHARACTERISTICS OF INNOVATION  There is an object or target which is being changed.  It can be a product, a process, an individual’s lifestyle, an organization's strategy, a society culture.  Innovation vary in extent or magnitude i.e. degree to which one deviates from the past.  It is closely related to problem solving since generation & implementation of ideas for change never transpire without difficulty.  A final characteristic is the impact of the change, the significance or range of its effects.
  • 5. Difference between Innovation & Invention Invention Innovation 1. It’s creation of new product, service or process. 1. 2. May not be commercialized 2. Results into commercialization 3. It can be autonomous or induced 3. Usually induced 4. Can be for economic or noneconomic motive 4. Economic motive 5. Usually restricted to R&D centre 5.Spread across the organization 6. May bring few changes in organization 6. Brings organizational change 7. Precedes innovation 7.Succeeds invention It is the introduction of new product, service or process into the marketplace.
  • 6. WHY INNOVATE ??? TURBULENT AND RAPIDLY CHANGING ECONOMY ORGANIZATION PREPARE THEMSELVES TO INNOVATE ON A CONTINUING BASIS OTHERWISE THEIR SURVIVAL CHANCES ARE SERIOUSLY THREATENED
  • 7. GOALS OF INNOVATION  Improving quality  Creation of new markets  Extension of the product range  Reducing labor cost  Improving production process  Reducing materials  Reducing environmental damage  Replacement of products/services  Reducing energy consumption  Conformance to regulations
  • 8. SOURCES OF INNOVATION  Organizational Structure. - Organic structures positively influence innovation. As there is lower vertical differentiation, formalization, centralization. Organic organizations facilitate the flexibility, adaptation & cross-fertilization.  Long tenure in Management - Managerial tenure apparently provides legitimacy & knowledge of how to accomplish a task and obtain desired outcomes.  Slack Resources - Having an abundance of resources allows an organization to afford to purchase innovations, bear the cost of instituting innovations & absorb failures.  Interunit Communications - Innovative organizations are high users of committees, task forces, cross-functional teams that facilitate interaction across departmental lines.
  • 9. TYPES OF INNOVATION  Product & Process Innovation  Open & Closed Innovation  Incremental & Radical Innovation  Modular and Architectural Innovation
  • 11. Open & Closed Innovation PROJECT START Concept Development CONCEPT FROZEN MARKET INTRODUCTION Implementation Closed Model For Innovation PROJECT START CONCEPT FROZEN MARKET INTRODUCTION Concept Development Implementation Open Model For Innovation
  • 14. Architectural Innovation Change in Product Structure Steam Engine of Car Modular Innovation Change in Component Technology Fuel Engine of Car
  • 15. INNOVATION PROCESS  Recognizing or scanning the environment.  Aligning the overall business strategy & proposed innovation.  Acquiring technology from outside.  Generating technology in-house.  Exploring & selecting the most suitable response to the environment.  Executing & implementing innovation.  Learning lessons for improvement.  Developing the organization.
  • 16. INNOVATION OCCURS AT THREE LEVELS NATIONAL LEVEL GOVT. POLICIES & SUPPORT ENTERPRISE LEVEL ENTERPRISE POLICIES, SUPPORT & INITIATIVES INDIVIDUAL LEVEL INDIVIDUAL & GROUP INNOVATION ACTIVITIES
  • 18. INNOVATION MANAGEMENT  Innovation management is all about - learning to find the most appropriate solution - to the problem of consistently managing aforestated process - doing so in the ways best suited to the particular circumstances in which the organization finds itself.  It is the search of effective routines.  It is about managing the learning process to deal with the challenge of the innovation process.
  • 19. Innovation Management Management of Innovation comprises three things: - linking of engineering, - science & - management disciplines  to plan, develop & implement technological capabilities to shape & accomplish the strategic & operational objectives of an organization.
  • 20. Need/Objectives of Innovation Management  To reap in the economic benefits of new technological inventions by commercializing them on time  To integrate technology into overall strategic objective of the organization.  To get into and out of the technologies faster and more efficiently.  To accomplish technology transfer.  To reduce new product development time.  To manage large ,complex & interdisciplinary projects and systems.
  • 21. Organizational Process for Innovation Management Market Learning Setting Unreasonable Expectations & Stretching the Business Definition Effectively Building Business Models Listening to New Voices Creating a Cause & not a business Designing an open market for :Ideas, Capit al, Talent Building Partnership and Alliances Lowering the risks of experimentation Paying the Innovators Well
  • 22. VALUE INNOVATION(VI)  One of the most prominent programmatic approaches to innovation currently in use.  It is different from building layers of competitive advantages & does not means segmenting market & accommodating customer needs.  It’s main focus is on offering those products & services which creates a superior buyer value in existing markets & enables a quantum leap for the firm to create new markets.  Value Innovation also differs from technology innovation. New technology developed does not becomes a value innovation unless it is cheap enough for MASS BUYERS.
  • 23. Three Basic Building Blocks of Strategy Competition Customers Corporate Capabilities Conventional Value Innovation Focus Process Outperforming the Competition Retaining & better satisfying existing customers Leveraging & extending the current capabilities of with other companies Seeking Radically Superior value to capture the entire mass market Targeting the mass of buyers by following non-customers closely & willingly losing some existing customers Willing to combine a company capabilities
  • 24. CHALLENGES FACED WHILE MANAGING INNOVATION 1. Why Change? - Only innovation matters. 2. What to Change? - Ranging from changes in product & service to the ways(i.e. process innovation). 3. Understanding Innovation. - Understanding common problems associated with partial views of innovation. 4. Building an Innovation Culture. - Managing Innovation is all about creating firm specific routines(i.e. repeated, reinforced patterns of behavior) which define its particular approach to the problem.
  • 25. CONTD………. 5. Continuous Learning - Firms constantly needs to develop their routines to deal with the environmental challenges. 6. High Involvement Innovation - Higher level of participations in innovation represents a competitive advantage. 7. Managing Connections - In current scenario business organizations are required to operate in relationship with others rather than in splendid isolation.
  • 26. BARRIERS TO INNOVATION  External Barriers - Market-Related Barrier Government & its Policies Others (Technical, Societal, & Inter Organizational Barriers)  Internal Barriers - People Related - Structural - Strategy Related
  • 27. LEARNING TO MANAGE INNOVATION HOW TO OVERCOME THESE BARRIERS SHARED VISION, LEADERSHIP & THE WILL TO INNOVATE. APPROPRIATE CULTURE • Clearly articulated & shared sense of purpose • Stretching strategic intent • Top management commitment. • Encouraging creativity • Enabling learning & interaction • Balancing between ‘organic & mechanistic’
  • 28. CONTD. KEY INDIVIDUALS EFFECTIVE TEAM WORKING CONTINUING & STRETCHING INDIVIDUAL DEVELOPMENT • Promoters, champions & other roles which facilitate innovation • Use of teams at crossfunctional & interorganizational level • Investment in team selection & building • Education & training of employees to ensure high level of skills & competence
  • 29. EXTENSIVE COMMUNICATION CREATIVE CLIMATE LEARNING ORGANISATION • Within & between the organization and outside • Positive approach to creative ideas, supported by relevant motivation systems • High level of involvement within & outside the firm in proactive experimentation • Knowledge capture & dissemination
  • 30. CONCLUSION Enterprises should emphasize Planning & Controlling Systems With high degree of Flexibility Respect for Individual Initiative And Personal Growth Tolerance for mistakes And Allowing Room for Failure