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Innovation as a Process Comparison (searching for new ideas (Michelman…
Innovation as a Process Comparison
searching for new ideas
Toray
open innovation
integrated R&D organization (Toray Industries, Inc., 2016)
emphasis on basic research (Toray Industries, Inc., 2016)
M&A
actively research new fields and technologies (Toray Industries, Inc., 2016)
specialist organizations in numerous fields (Toray Industries, Inc., 2016)
engaging in industry-government-academia joint research (Toray Industries, Inc., 2016)
strategic partnerships with industry leaders (Toray Industries, Inc., 2016)
advanced analytical capabilities (Toray Industries, Inc., 2016)
Michelman
open innovation
M&A
technology scouting (Homoelle, n.d.)
grant writing (Homoelle, n.d.)
technology challenges (Homoelle, n.d)
conferences (Homoelle, n.d.)
customer collaboration
internal collaboration
joint ventures
leading-edge R&D capabilities
selecting ideas to pursue
Toray
green innovation theme / sustainability (Toray Industries, Inc., 2016)
life innovation theme / society (Toray Industries, Inc. 2016)
pipeline management / long-term (Toray Industries, Inc. 2016)
focus on near-term opportunities to maintain profitability (Toray Industries Inc., 2017)
Michelman
developed a process to identify key success factors before starting a new product (Michelman, Inc., 2017)
solutions to market needs that have been verified and that have no current answer (Homeolle, n.d.)
environmentally friendly alternatives to incumbent technologies (Homoelle, n.d.)
capturing value
generating
Toray
pursue patent protection for products
separate IP subsidiary (Toray Industries, Inc., 2016)
brand strategy
expand businesses in growth fields (ref 2)
expand businesses in growth countries/regions (Toray Industries, Inc., 2017)
global cost reduction efforts (Toray Industries, Inc., 2016)
patent confirmation (ensure right-to-practice)
radical reforms both in business and organizational structures (Toray Industries, Inc., 2017)
Michelman
holistic innovation (Homoelle, n.d.)
brand strategy
reduce manual processes (SMART-RF, 2017)
protecting
Toray
advanced materials are first produced at Japanese plants (Toray Industries, Inc. 2016)
aggressive IP strategy
exercising patent rights
lucrative licensing agreements
enhancing patent quality
Electronic Information Security Standards (Toray Industries, 2016)
Confidential Information
Management Regulations (Toray Industries, Inc., 2016)
Michelman
patent protection
trade secrets
learning from experience
Toray
expand upon core technologies
a history and culture of creating innovative
technologies
Michelman
47-year history in development of water-based coatings (Michelman, Inc., 2017)
acquire expertise from M&A