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Summary Innovation Management And Strategy | Summary IMS (D0H36A) by Prof. Bart van Looy - 17/20 in first exam period 9,99 €   In den Einkaufswagen

Zusammenfassung

Summary Innovation Management And Strategy | Summary IMS (D0H36A) by Prof. Bart van Looy - 17/20 in first exam period

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This document provides you with a comprehensive summary of the entire course 'Innovation Management and Strategy' held by Prof. Bart van Looy. It includes several examples that the professor mentioned in the lectures. I created this document based on the lectures and studied exclusively with th...

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  • 16. februar 2022
  • 25
  • 2021/2022
  • Zusammenfassung

2  rezensionen

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von: sien_pardon • 1 Jahr vor

Great summary, on point, everything you need. Thx

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von: avikul • 1 Jahr vor

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Part 1: Innovation Dynamics & Systems
1. Key Concepts
→rising importance of innovation since late 90s → major driver of competition/value creation

Robert Solow (1957)

• Traditional production function: Y = F(L,C)with L=Labor and C=Capital

→ outcome in economy increases with educated people and capital

• Explanatory power (R²) of model jumped from 20% to 80% when including R&D

Why innovation?

→new products create value for companies and shareholders + wealth for economy



1.1 Schumpeter
→2 types of agents

1. Exceptional individuals (heroic entrepreneurs)
- willing to face hazards and difficulties of innovations
- ‘heroic’ as they must pass many though challenges (uncertainty, resistance, complexity) to
bring something new
2. Imitators
- Merely routine managers following heroic pioneers

Schumpeter: Theory 1 (1928)

→ Theory of heroic entrepreneurship and Creative Destruction as the engines behind business cycles

- Science and technology as exogeneous factors
- These factors inspire heroic entrepreneurs to translate technological developments into
economic activity
- Leads to Creative Destruction (when you create, you replace)

Schumpeter: Theory 2 (1942)

→ Changed his mind → Large firms are also engines of innovation and create economic activities

- Science and technology as an internal part of large firms (R&D)
- R&D departments of large firms are increasingly important in innovation process
- Engineers in the R&D department of large firms could be considered as ‘entrepreneurs’
- Example for this model: Apple (iPod, iPhone, iPad,…)

,1.2 Baumol (2004)
Starting point

Distinction between the entrepreneur (partner of the inventor) on the one hand and large established firms
on the other hand.

3 Questions & Answers

Question 1: Who is responsible for innovation and related new economic activities?

- Technological innovation is the driver of wealth creation and profitability
- Heroic entrepreneurs are in the driving seat (e.g. Zuckerberg)

Question 2: If both contribute, is the nature of the contribution similar?

- Large firms and entrepreneurs contribute, but their contribution is differing
- Small, entrepreneurial firms rather create ‘breakthroughs’
- Large firms are more effective in creating aggregated incremental improvements (which can also
have revolutionary consequences

Question 3: If we have acknowledged the contribution of both types of economic actors, can we account for
a complete picture in terms of innovation dynamics?

- No! →universities and governments also play an essential role
- E.g. Universities are good at process/product innovation and basic research
- E.g. governments are good at basic research and funding basic research



1.3 Abernathy & Utterback (1978)
→ Developed a process model, which explains how new technologies/innovations unfold in markets

- Productive unit = a product line + its associated production process
- A productive unit’s capacity for and methods of innovation depend on its stage of evolution
- Concept of product life cycle plays central role

→ new technologies always show a pyramid pattern with 3 stages: entrance → peak → #companies ↓

Abernathy-Utterback Model Industry Dynamics

, 1. Fluid
- A lot of product innovation in this stage
- Demand in market is being addressed → opportunity to make profits → market entrants↑
2. Transitional
- Emergence of one dominant design, which gets standardized
- Price and functionality have major influence on what becomes dominant design
3. Specific/Mature
- Operating at larger scale becomes more important (economies of scale) → #companies ↓
- Product innovation falls and process innovation rises (more efficient processes to produce at larger
scale)

→ customers and the market decide over the dominant design




1.4 Social Construction of Technology (SCOT)
→ Model shows how social dynamics influence technology development

→ In a society, there is always Interpretative and Design Flexibility

Interpretative Flexibility

- Each technological artifact has different meanings and interpretations for various groups
- E.g. air tire bicycle: convenient method for transport vs. traction problems & ugly aesthetics

➔ Relevant social groups = users and producers of technological artifacts
➔ Other relevant groups = journalists or politicians

Design Flexibility – Fluid Stage Abernathy & Utterback

- There are multiple ways of constructing technologies
- A design is only a single point in the large field of technical possibilities, reflecting the interpretations
of certain relevant groups

→ Interpretative and Design Flexibility leads to conflicts within and between social groups

- Conflicts between criteria that are hard to resolve e.g. how can women (skirt) ride bicycle decently
- Conflicts between relevant groups e.g. anti-cyclists lobbied for banning bicycles (security threat)

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