Transcript
Managing Innovation
MBA 6103Unit 2Innovation as a Core Business Process
Starting with an “innovation model”• Searching
• Scanning the internal environment• Scanning the external environment
• Parallels to SWOT
• Selecting• Deciding which factors to address from a strategic perspective
• Implementing• Converting the idea into action
• Capturing Value• Sustaining adoption/diffusion• Expanding knowledge base
The Innovation Model
Innovation Challenges for Service Organizations
• Lack of an “Innovation Culture”• Lack of an “Innovation Strategy”• Conflicts of interest between innovations and “fee-based”
services• Lack of formal “Innovation Processes”• Lack of Project Management skills
• Parallels to challenges for manufacturing organizations??
Innovation Examples (Service)
Five Generations of Innovation Models
• First/Second• Standardized linear models – push/pull
• Third• Coupling and feedback loops
• Fourth• Parallel models, value chain integration
• Fifth• Whole systems integration, continuous improvement, emergent
design
Establishing Routines Around Core Abilities
Innovation and Strategy
top related