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Lecture 1 -Innovation management

Introduction to Innovation Management course
by

MURAT TARAKCI

on 12 May 2015

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Transcript of Lecture 1 -Innovation management

What is Innovation Management?
Idea
Generation
Idea
Selection
Implementation
Ideas
filtered out
Rejected
Killed
http://goo.gl/jBbFI
Introduction
What is innovation?
Product Service Process Business Business
process model
New-to-the-world
Creation of new
product line(s)
Addition to existing
product line
Targeting new markets
Similar performance
at lower cost
Improvements
No innovation
Radical
Incremental
Degree of innovation
Dimensions of innovation
Agenda
Syllabus
Innovations: What, Why, How
Announcement by Irma
Let's role play:
How would you convince the top management team of Polaroid to innovate?
Why does innovation matter?
Macroeconomics of innovation and the Austrian school
Growth, productivity, creation of new jobs, etc.

What country level factors boost innovation:
cultural differences, education levels, government policies?
Industrial organization of innovation
Are large and old firms more innovative?
Organizational ecology, organizational inertia and strategic renewal, diffusion of innovation, etc.
Idea
Generation
Idea
Selection
Implementation
What is Innovation Management?
Innovation strategy
Creating an innovation culture
Class 2
Class 3
Class 4
Class 5
Class 6
Diffusion of Innovations
Relative advantage
Compatibility
Complexity
Triability
Observability
Shai Agassi, Better Place
Innovation:
The generation,
development
and
commercialization
of
new
products, services, business models, and/or knowledge.
What is innovation?
Creativity

Inventions

Innovations
?
James M. Spangler vs William Hoover: "Vacuum cleaner"
Elias Howe vs Isaac Singer: "Sewing machine"
Gartner's Hype cycle
Adoption cycle
© Professor Keith Goffin
Innovation Audit and Action Plan
Innovation Management
© Professor Keith Goffin
Rate your instinctive perception for each question between “not at all” and “very much so” (use a cross)
Then, rate each question in terms of importance to your customers and/or staff (use a circle)
Innovation strategy
© Professor Keith Goffin
Generating ideas
© Professor Keith Goffin
Our top management meet specifically to define innovation policy and to support innovation investment decisions.

Our main innovation strategy is clear (for example, first-to-market, fast follower).

We have a clear/specific definition of innovation that is shared throughout the business (i.e. not just a corporate talking point).

We actively monitor our operating environment to identify key trends and market drivers (for example legislation, changing needs, new technology, etc.).

Our innovation strategy integrates all five areas of innovation management (ideas, portfolio, implementation, people, strategy)
The general climate within all of our departments and functions is supportive of the process of generating ideas.

We take the opportunity to learn from and share experiences with other organizations (“open innovation”).

We use structured problem solving approaches (such as brainstorming, TRIZ, scenario development, etc.).

We actively research, identify and capture customers' stated and latent (hidden) needs.

Internally, and in our industry we are perceived to be a creative organization.
Selecting ideas
We have a specific system (as opposed to ad-hoc arrangements) for screening and evaluating ideas in the organization.

Our portfolio prioritization process clearly links the choice of projects to our innovation strategy.

We use both financial and scoring methods effectively and efficiently to evaluate our innovation projects.

We have a clear and shared understanding of innovation risk – this allows us to objectively analyze projects.

Our current portfolio meets the principles of a good portfolio (i.e. projects align with innovation strategy, maximise value, and make the most efficient use of resources – the portfolio is balanced).
© Professor Keith Goffin
Implementation of ideas
We have a systematic new product or new service development process. The steps are integrated and activities take place in parallel with each other.

We are able to ensure that customer and end user input is used throughout the process.

We ensure that sufficient capacity is available in R&D, manufacturing, suppliers and support functions to allow fast and effective product development.

We have a long-term (business) champion for each new product or new service.

Our record of new product/service development is satisfactory when compared with its main competitors.
© Professor Keith Goffin
Creating an innovation culture
Management actively creates and sustains an innovative climate.

Our mission statement mentions 'creativity', 'innovation' or both as being part of the corporate ethos.

Our employees' innovative and entrepreneurial behaviour is encouraged and rewarded.

We set aside budget and actively encourage training for staff in innovation-related activities.

We have a budget set aside for “blue sky” innovation projects – and/or we have a dedicated team working on innovation.

Why innovation? The case of Polaroid
Polaroid filed bankruptcy in 2001!
Their failure is often associated to
failing to shift
from analog to
disruptive
digital imaging.
Why do firms need to innovate?
Higher competitive advantage
Change!
(e.g., profits, market share etc.)
Technological advances
Changes in institutional setting
Changes in competition
Changes in consumers' tastes
1980
1990
1998
Innovation
activities
Capabilities
Cognitive
frames
Instant camera product and process
innovation
Instant film technology
Manufacturing: Thin film coating and precision electronics
Mass market distribution
Technology-driven product development
Value of large-scale invention
Value of an instant print
Value of photographic quality
Razor/blade business model
Instant camera product and process innovation
Large investments in exploring digital imaging technologies
"Printer in the Field" digital camera development
Helios medical imaging system
Image recorders and scanners
Instant film technology
Manufacturing: Thin film coating and precision electronics
Mass market distribution
Leading edge digital imaging technologies
-microelectronics
-lasers
Market-driven product development
Value of large-scale invention
Value of an instant print
Value of photographic quality
Razor/blade business model
Instant camera product and process innovation
Smaller investments in exploring DI technologies
-Sale of microelectronics lab &Helios
Digital camera (without printer) development
Image recorders and scanners
Instant film technology
Manufacturing: Thin film coating and precision electronics
Mass market distribution
Diminished digital imaging technological capability
Market-driven product development
No value in large-scale invention
Value of an instant print
Value of photographic quality
Razor/blade business model
Source: Gavetti & Tripsas (2000,SMJ)
http://goo.gl/jBbFI
Introduction
What did we do today?
Syllabus
What is innovation?
Why innovation matters?
What is innovation management?
Announcement by Irma
Objective
To be able to recognize the importance of innovations
Full transcript