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Innovation Management (Key enablers of Innvation (Leadership, People,…
Innovation Management
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Types of Innovation
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Organisazion - managerial fundamental changes in practices, process and structure e.g. Lean manufactoring, total quality management, outsourcing and supply chain.
Challenges of Innovation
Managerial challenge - not just investing into R&D, solving engineering problems, doing scientific discoverues, but how to manage these complex processes. FOUR main challenges:
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Innovation Territories
Nagji and Tuff (2012), in a recent Harvard Business Review article, classify different innovation territories as
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ADJACENT - Leveraging existing knowledge in current product-market domain and transposing it into a new product-market space.
TRANSFORMATIVE - Breakthrough (or game-changing) innovations that redefine or create entirely new product-market domains.
Levels of Innovation
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Radical - doesn't happen often e.g. invention of internet, electric cars, etc.
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