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Transcript of innovation
innovation - what is it and why should we bother?
…novel implementation of an invention, discovery, new or existing knowledge in economic process (Joseph A. Schumpeter)
Invention is the first occurrence of an idea for a new product or process, while innovation is the first attempt to carry it out into practice. (Fagerberg et al., 2005)
Innovation is the successful exploitation of new ideas. (Innovation Unit 2004, UK Department of Trade and Industry)
Innovation – new or significantly improved product (good or service) introduced to the market or the introduction within an enterprise of a new or significantly improved process (incl. marketing) (OECD)
and on the firm level: "... innovation is a process of turning opportunity into new ideas and putting these into widely used practice … Innovation is all about finding new ways to do things and to obtain strategic advantage, so there will be room for new ways of gaining and retaining advantage" (Tidd & Bessant, 2009)
The course gives an overview of innovation as development process in enterprises – introduce different types and levels of innovation (from technological revolutions to other radical and incremental innovations) – as well as innovation in different sectors, concept of systems of innovation, and innovation development strategies. The impact of innovation on social and economic development and basic concepts of innovation policy will be also discussed.
intro + terminology & context
innovation system, innovation in economic sectors
scale effect, technological trajectories and path dependencies
intellectual property and innovation
the role of the state in economic development
innovation policy: measures and impact
innovation system and policy in comparative perspective
seminar on sectoral innovation systems
seminar on techno-economic paradigms
seminar on innovation systems and innovation policy
who am I?
Aleksandrs Cepilovs, Junior Research Fellow and PhD candidate @RNS.
MA Technology Governance from RNS, TUT;
MSc Business Economics from Aalborg University, DK
research interests/current research: Innovation policy and development; innovation in the public sector; public procurement; research methods in the social sciences and some others.
more information regarding the course: https://moodle.e-ope.ee/
group work requirements
ppt/prezi presentation compliant with academic requirements
in-text references (e.g. Lundvall, 1994)
List of references (used literature) on the last slide
every group member participates in the group work (no slacking): both at the preparation and presentation stages + discussion!
presentation 7-10 minutes, focusing on the most important aspects;
relate presentation to the course literature and ideas discussed during lectures;
more analysis and less description (more 'why' than 'what'!
please upload your presentations on moodle on the day of presentation not later than 12pm. (noon)
three group assignments (each 20%), all group members are expected to attend seminars and take part in the group presentation and follow‐up discussion). Every given group assignment is mandatory
attendance, participation activity and final exam (40%).
Positive performance in both parts is required for getting the final assessment (that means at least half of the points for each assessment part).
Innovation, entrepreneurs and the firm
top 10 inventions of all time (by livescience.com)
Social science articles with 'innovation' in the title during 1956-2006
(as a share of all articles in the social sciences). Source: social science
citation index (ISI Web of Science) from Fagerberg and Verspagen, 2009.
google search for 'innovation' = 114,000,000 hits
google scholar search for 'innovation' = 2,910,000 hits
google books search for innovation = 43,900,000 hits
as to February 7, 2014 (3:06pm)
Joseph A. Schumpeter on Innovation
“Innovation is possible without anything we should identify as invention and invention does not necessarily induce innovation, but produces of itself no economically relevant effect at all” (Schumpeter 1939, 59)
According to Schumpeter, innovations are produced by entrepreneurs:
"the dream and the will to found a private kingdom, usually though not necessarily, also a dynasty";
the "will to conquer: the impulse to fight to prove oneself superior to others, to succeed for the sake, not of the fruits of success, but of success itself" and
the "joy of creating, of getting things done, or simply of exercising one's energy and ingenuity" (Schumpeter, 1934, 93)
invention - an idea, a sketch or model for a new or improved device, product, process or system. it has not yet entered the economic systems and most inventions, in fact, never do so.
an innovation, in turn, is accomplished only with the first commercial transaction involving the new product, process, or system. it is necessarily a part of the economic system.
types of innovation
most innovative companies 2012-2013
Forbes list 2013
strategic advantage through innovation
[what counts is] competition from the new commodity, new technology, the new source of supply, the new type of organization... competition which... strikes not at the margins of profits and the outputs of the existing firms but at their foundations and their very lives.
radical vs. incremental innovation
Radical or basic innovation – radical change in existing products, processes, ways of organizing work, production methods, distribution and communication systems;
Incremental innovation – incremental development of existing products, processes, ways of organising work, production methods, distribution and communication systems;
beyond technological & private sector innovation
“about new ideas that work to address unmet needs. We simply describe it as innovations that are both social in their ends and in their means” (European Commission, 2013)
involves government, for-profit, nonprofit (NGOs or the third sector) as well as private individuals in a collaborative fashion
TIPSE, LIPSE, European Social Innovation Research, The Young Foundation (UK), etc.
public sector innovation
“discontinuous or step change, as something which was completely new to a particular local authority (though which may have previously been applied elsewhere), and a change which had already been implemented rather than just an aspiration or planned initiative.” (Newman et al. 2001)
“the creation and implementation of new processes, products, services and methods of delivery which result in significant improvements in outcomes efficiency, effectiveness or quality." (Albury 2005)
there is, however, less clarity regarding innovation in the public sector.
some models of innovation
copying text from someone else without using quotation marks and citing the source is considered plagiarism;
provide a list of references used for all seminar presentations, also provide in-text references. any claims you make in a presentation must contain a reference;
in this course, as you don't have to write a paper, formal plagiarism check will not be performed, but this does not mean that your presentations will not be reviewed on the subject of plagiarism;
if you have any questions regarding academic conduct and other issues, please contact me.
what triggers discontinuity?
new market emerges
new technology emerges
new political rules emerge
change in market sentiment/behaviour
business model innovation
shifts in techno-economic paradigms etc.
figures from Tidd, Bessant, Pavitt (2005) Managing Innovation, 3rd edition
figures from Tidd, Bessant, Pavitt (2005) Managing Innovation, 3rd edition
thank you! Questions? Comments?