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Summary: Technology and Innovation Management
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TECHNOLOGY ANDINNOVATION MANAGEMENT
Summarization
Tim Wagner
MARCH 2021
,Table of Contents
Table of Contents 1
1. Introduction 7
2. Corporate Innovation System 14
3. Innovation Strategy 20
4. Innovation Culture 31
5. Organizing Innovation 37
6. Front End of Innovation 47
7. Development 65
8. Market Introduction 74
9. Technology Management 81
1. Introduction
1.1 Relevance of Innovation
Megatrends
Trigger opportunities and threats for innovation and new business areas. Both should be
addressed with innovation. Examples of megatrends:
● Urbanization: Effective and environmentally friendly infrastructures
● Mobility: Effective and sustainable mobility concepts
1
, ● Demographic change: Efficient and affordable long-term medical care
● Digitalization: New ways of cooperation, new benefits through digitized products
➢ Will have a strong influence on the future
Cycle of Innovations
Theory of long waves
● Powerful (basic) innovations trigger growth in the economy
● The exploitation of the economic potential lasts several decades (4-6)
● If utilization potential is exhausted, new basic innovation must be created to
prevent economic stagnation
The parameters for companies have changed over time. Today:
● Life cycles are shorter
● More continuous innovations, greater competition and more alliances
● Global and uncertain market environment
● Quality is absolutely necessary rather than just desirable
● Less mass production, more customization
● Agile organization, smaller plants and outsourcing
All in all: continuous innovation is extremely important for many successful businesses.
2
, 1.2 Definition of Innovation
Innovation vs Invention
Invention Innovation
The first technical implementation or a The successful commercial introduction of
new combination of existing scientific a new product.
inventions. Invention may be the result of
planned research and development -- Organization for Economic Co-
activities or of a chance. Operation and Development (OECD)
Definitions from Different Perspectives
Something qualitatively new
● Qualitatively different from existing forms
New for the adopting person or unit
● Perceived as new by an individual or other unit of adoption
A process from idea to implementation
● Invention process + Exploitation = Innovation
A new means-end combination
● Synthesis of a market need with the means to achieve and produce a product to
meet the need
Example: Ford’s invention of mass production was a combination of elements that
already existed and had been improved incrementally: Interchangeable parts,
continuous-flow production, assembly line, and the electric motor.
3
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