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HC 2 - I&E summary
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Summary lectures innovation & entrepreneurship
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HC 2 – Innovation & Entrepreneurship#1. Innovation management
Where innovation management = management of innovation process.
Refers to both product & organizational innovation. + include set tools that
allow managers to understanding of processes and goals.
Technical resources + Creative assets = value creation
Technical + creative = Internally looking = hard, because you think one way.
So leave the firm as it is and access new knowledge outside the firm (joint
ventures).
Important to distinguish between innovation type:
- Different types have different management needs
- Lack of consistency lead to confusion
Different types of innovation
See 4 levels (HC 1)
+ Garcia & Calantone (2002) difference between:
- Macro (new to the whole world)
and Micro (new to the firm, SUV offering by apple).
- Marketing (repackaging, new market created without new science)
And Technological innovation (new science, new process)
- Discontinues innovations
Radical, imitation (new to the firm, not to the market).
#2. Innovation management process
Where innovation comes from:
- Sometimes just lucky, founded by accident
o Penicillin
o Polyethylene
o Post-it note
o Psychedelic effects of LSD
- Most of the time innovation comes from, more an active
management project (strategy behind it, good manager: good for
market, what resources needed, what does our company need to gain
to get the resources and be first on the market).
Historical perspective
1. Technological push: new discovery and through it out on the market.
Logical: when I build a new product, customers want that: not always the
case consumers just want the best, not especially the new science.
2. Market pull: Pull from consumers; talk to them and what do you want to
satisfy needs.
- Problem: they don’t know what they want + not doable. Want
consumer’s do/say/want not the same that is the problem (e.g.
Faster horses vs. Ford).
3. Push/Pull combo: See what consumers want, see what needs you van
fulfill. Don’t use it anymore:
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