Lecture notes
Lecture 15
- Institution
- Royal Holloway University Of London
INNOVATION MANAGEMENT
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26/11/2019LECTURE 15: INNOVATION MANAGEMENT
TODAY’S TOPICS TODAY’S LEARNING OUTCOMES
• What is innovation? By the end of this session you will be able to:
• Innovation models • Explain what innovation is and is not
• Is the form of innovation changing? • Describe early models of innovation
• Implications for International Business • Describe the differences between closed and
open innovation
FORBES TOP 10 INNOVATORS 2018
1. ServiceNow
2. Workday
• Blunting your competitive edge: spill-overs and
3. Salesforce.com
institutional isomorphism
4. Tesla
• Innovations keep MNEs ahead of competitors
5. Amazon.com
• Companies copy each other’s ideas, so if you do not
6. Netflix
innovate your products you will not be ahead of your
7. Incyte
competitors as your products will not be new
8. Hindustan Unilever
9. Naver
10. Facebook
WHAT WAS THE FIRST COMMERCIAL TOUCHSCREEN
SMARTPHONE?
A. Samsung F700 Answer is D
B. Apple iPhone (C does not exist)
C. Motorola P9
D. LG Prada
COPYING, CATCH-UP AND MIMICRY
2005 – Idea for touch screen phones suggested by Steve Jobs
2007 – First iPhone launched
2007 - Time innovation of the year
, JOSEPH SCHUMPETER (1934)
Entrepreneurs are innovators who implement change within markets by:
• Introducing new goods
• Introducing new methods of production (eg. Gutenberg 1439)
• Opening a new market
• Finding new sources of supply, new materials, or parts
Improving markets, or building new ones
Gutenberg 1439
• Developing new products
He invented the printing
• Developing new services
method.
• Inventing or adopting new technology
During the 1400s books
• Entering new markets with existing products/ or services
were crazily expensive as
• Introducing new business processes
• they were all handwritten. Gutenberg found a way to make it faster to develop more copies of the
Creating new business models
same book.
Video about Connecting Caregivers with AT&A Digital Life Care
https://www.youtube.com/watch?v=2AUIMkhszl8
This video is about the ’Third age’ market, which consists of older people living longer and
therefore buying more.
INNOVATION CAN BE…
The successful commercialisation or exploitation of an idea
Arthur Fry invented the post-it
• Radical
notes.
o Ground-breaking change in products and services
• Incremental
James Dyson is the inventor of the
o Small ongoing changes and refinements
Dual Cyclone bagless vacuum
• Deliberate/Accidental cleaner.
• High-tech/Low-tech
WHAT INNOVATION IS NOT
Innovation is not invention. It’s the conversion of a new idea into consumer delight, and ultimately in the
revenue and the profit. If an idea or technology cannot be successfully commercialised, it’s not innovation.
- Robert McDonald, CEO, P&G
INNOVATION IS JOINING THE DOTS
EARLY INNOVATION MODELS: COUPLING MODEL
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