100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Managing Innovation (MAN-BKV39)- Lectures RU $9.11
Add to cart

Class notes

Managing Innovation (MAN-BKV39)- Lectures RU

 25 views  1 purchase
  • Course
  • Institution
  • Book

All lectures of elective Managing Innovation. Contains images and tables from the book 'Innovation Management and New Product Development' of P. Trott (2021). Keuzevak FdM Radboud Universiteit

Last document update: 9 months ago

Preview 4 out of 59  pages

  • March 12, 2024
  • March 13, 2024
  • 59
  • 2023/2024
  • Class notes
  • R. kok
  • All classes
avatar-seller
Managing Innovation – Lectures
HC1, Innovation introduction and systems
Introduction on Innovation Management (CH1)

Innovation drives firm performance and economic growth

- Innovation has accelerated since 1780s
- Industrialization based on division of labor, tasks divided in smaller tasks and distributed to
people; automatization; control
- Scientific research helps distributing technologies. We also use it in product systems. It
became easier to reach this knowledge. This offers more opportunities to create new things.
- Existing competencies are destroyed while developing new competencies aimed at making
new combinations (Schumpeter). If you want to create something new, you might need to
destroy the existing competencies. Can also be a combination of existing things.
o Innovation disturbs equilibrium in real economies. If there were no economies, the
system of products would be very easy where demand and supply create prices. In
result of innovation this equilibrium is disturbed. If firms don’t innovate, they don’t
make money and wouldn’t have higher margins for, for example, future investments
or uncertainties.
- Innovation comes from small entrepreneurs (Mark I)
- Big firms are the drivers of innovation (Mark II)
- Innovation enables to create a competitive advantage



Innovation drove exhaustion and pollution

- Innovation of the past has driven exhaustion and pollution → we now face climate problems.
This has accelerated since the Industrial Revolution.

Only 1 way out = INNOVATION. Innovate to find sustainable solutions.

- No sustainable solutions without new technologies
- No new technology without social/organizational innovation → firms need
to use technologies and consumers need to buy them (the resulting
products). How to convince consumers to buy it. People need to support
the innovation and buy it. Also a role for government → make
organizations work on it + convince people to buy.



Innovation is defined

- Consists of 3 parts:
o Theoretical conception (idea)
o Invention (something new)
o Commercialization/Bringing into common usage (introduce)
- Innovation is different from change (can change into something that is not new),
entrepreneurship (doesn’t mean new business), design & creativity (involved, not the same)


1

,Innovation success is not the most likely outcome

- About 70% of new products fail (higher for radical than incremental)
o Examples of failure: Omo power, Buckler beer, Dvorak keyboard
- Various criteria used to measure success (Financial, Market, Technical, Strategic, Process)
- Wealth of success factors



Distinguish between non-technological and technological innovations.

Technological innovation types distinguishing products from process

- Product for customers: consumers or organizations.
- Process innovation = Production innovation of organizations.

Non-technological innovation distinguish service from organization

- Service innovation, e.g. financial: new mortgage
- Organizational innovation, e.g. flexible workplaces
o Marketing and management innovation
o Business model, e.g. different way of revenue generation



Innovation process models have evolved into interactive models

- Linear models:




- Interactive models: interaction between market (knowledge) and interaction with
technological processes




- Open innovation models: knowledge is not necessarily developed within boundary of the
firm, it can also come from outside → technological or market. Allowing others to do it.




2

,Architectural models focus on a system with components




Model used in development of video systems. It has a V-shape: it involves the theoretical concepts
and then it goes into architectural design. Very common for software-based products.


Only few process models show functional interfaces

Stage-gate model of NPD process (Copper, 1983).
Decision making gates → is idea being developed or stopped? Every aspect is took into account to
decide to continue or stop.




3

, Discontinuous innovation changes the rules of the game




Change the nature of the game = radical, disruptive



What is digital innovation?




Subset of technologies that relate to creation/storage/retrieval of knowledge. Often manifested in
physical products. Core = information processing.

- Level 1 – information processing, for example data in databases → physical representation,
seeing the information flows



1984:
ASML is world-leading in systems that produce chips. Chips are technologies that go into smart
products.




4

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller noudb1908. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $9.11. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

52510 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$9.11  1x  sold
  • (0)
Add to cart
Added