This is a comprehensive summary of the Innovation Management book of P. Trott, 6th edition. Of all the chapters 1 to 17, Ch. 2/9/10/12/13 are missing. Several examples of questions and answers have also been included in the summary.
ISBN: 978-1-292-13342-3
Strategic Innovation Management: Summary + Class notes (MBA - KUL Brussels)
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Voorbeeld van de inhoud
Innovation Management and New Product Development – Sixth Edition
Summary
,Chapter 1: Innovation Management: an introduction
• understand the concept of innovation and innovation management, and the differences with related
concepts, such as entrepreneurship and invention
• understand the different typologies of innovation
The importance of innovation; corporations must be able to adapt and evolve if they wish to survive. Businesses
operate with the knowledge that their competitors will, inevitably, come to the market with a product that
changes the basis of competition. The ability to change and adapt is essential to survival. Innovation can also
provide growth, almost regardless of the condition of the larger economy. “Competition posed by new products
was far more important than marginal changes in the prices of existing products.” Innovation furthermore needs
to be viewed as a process, that’s the key to understanding it. It is the analysis of the role of the individual
entrepreneur that distinguishes the study of entrepreneurship from that of innovation management.
In this book, design is viewed at as an applied activity within research and development, and to recognize that, in
certain industries, like clothing for example, design is the main component in product development. In other
industries, however, design forms only a small part of the product development activity.
To distinguish innovation and an invention here is a more comprehensive definition of Innovation: “Innovation
is not a single action but a total process of interrelated sub processes. It is not just the conception of a new idea,
nor the invention of a new device, nor the development of a new market. The process is all these things acting in
an integrated fashion.”
Easier, invention is the conception of the idea, whereas innovation is the subsequent translation of the invention
into the economy. Innovation = theoretical conception + technical invention + commercial exploitation. This
complete process represents innovation.
Theoretical conception: The conception of new ideas is the starting point for innovation.
Technical invention: The process of converting intellectual thoughts into a tangible new artefact.
Commercial exploitation: Inventions need to be combined with hard work by many different people to convert
them into products that will improve company performance.
“Innovation is the management of all the activities involved in the process of idea generation, technology
development, manufacturing and marketing of a new (or improved) product or manufacturing process or
equipment.” This definition of innovation as a management process also offers a distinction between an
innovation and a product. Also, science and technology play an important role in innovation. Technology is
knowledge applied to products or production process.
Type of Innovation Example
Product innovation The development of a new or improved product.
Process innovation The development of a new manufacturing process.
Organizational innovation A new venture division; a new internal communication system.
Management innovation TQM (total quality management) system.
Production innovation Quality circles; new production planning software.
Commercial/marketing innovation New financing arrangements; new sales approach.
Service innovation Internet-based financial services
Nowadays, there are two schools of thought on what drives innovation: the market-based view and the resource-
based view. The market-based view argues that market conditions provide the context that facilitates or
constrains the extent of firm innovation activity. The key issue here is the ability of firms to recognize
opportunities in the marketplace. The resource-based view of innovation considers that a market-driven
orientation does not provide a secure foundation for formulating innovation strategies for markets that are
dynamic and volatile; rather a firm’s own resources provide a much more stable context in which to develop its
innovation activity and shape its markets in accordance with its own view.
, Models of innovation:
• Serendipity
The role of serendipity or luck is offered as an explanation. To recognize the significance of an
advance, one would need to have some prior knowledge in that area.
• Linear models
The recognition that innovation occurs through the interaction of the science base, technological
development and the needs of the market was a significant step forward. There is still a disagreement
about what activities influence innovation and, more importantly, the internal processes that affect a
company’s ability to innovate. Two variations of this model exist, one of them driven by technology
and the other by the market.
Model 1: R&D à Manufacturing à Marketing à User
Model 2: Marketing à R&D à Manufacturing à User
• Simultaneous coupling model
Above models focus on what is driving the downstream efforts rather than on how innovations occur.
The linear model can offer where the initial stimulus for innovation was born. The simultaneous
coupling model suggest that it is the result of the simultaneous coupling of the knowledge within all
three functions that will foster innovation.
• Architectural innovation
Technological knowledge along two new dimensions: knowledge of the components and knowledge of
the linkage between them. The result is four possible types of innovation: incremental, modular, radical
and architectural innovation.
• Interactive model
This model links together the technology-push and
market-pull models. It emphasizes that innovations
occur as the result of the interaction of the
marketplace, the science base and the organization’s
capabilities. This model has been confirmed as the
market is a major source of innovation; firm
competences enable firms to match technology with
demand; and external and internal sources of
innovations are important. All necessary for value
creation and capture.
Figure 1 Interactive Model: (Trott, 2011)
The concept of open innovation: the process of innovation has shifted from one of closed systems, internal
to the firm, to a new mode of open systems involving a range of players distributed up and down the supply
chain.
Discontinuous innovation: A change is very significant; something happens in an industry that causes a
disruption - the rules of the game change.
Innovation as a management process. This can be described and involves:
1. A response to either a need or an opportunity that is context dependent.
2. A creative effort that, if successful, results in the introduction of novelty.
3. The need for further changes.
The complex nature of innovation management has some limitations according to the various models
introduced:
• Variations on linear thinking continue to dominate models of innovation. They do not give insight
into the dynamics of actual innovation processes.
• Science is viewed primarily as technology orientated and R&D is closely linked to manufacturing,
causing insufficient attention to be paid to the behavioral sciences. Consequently, service
innovation is hardly addressed.
• The complex interactions between new technological capabilities and emerging societal needs are
a vital part of the innovation process, but they are underexposed in current models.
• The role of the entrepreneur is not captured.
• Current innovation models are not embedded within the strategic thinking of the firm; they remain
isolated entities.
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