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INMA (Kap. 1) (Innovation and Business Functions (relating to Product…

- - - - Diffusion of Innovation: the factors that influence market uptake, e.g. The best-known aspect of the work of Rogers is that the early adopters of innovations such as new products have particular characteristics. They are nor- mally very open to new ideas and readers might consider if they know someone who always has the latest technology, such as the newest mobile phone.
      - Culture of Innovation: Although a significant part of managing innovation is about defining and managing processes, it should never be forgotten that processes make things possible but people make them happen--> the most important factors related to culture
      - Portfolio Management: is the term used by researchers to describe the pro- cesses – formal and informal – that organizations use to select ideas.
      - Disruptive Innovation: Disruptive technologies change markets and can destroy companies that fail to move from one technology to the next at the right moment
      - Voice of the Customer(VOC): is a broad term that covers the many different ways that customer insights can be generated
      - Business Model Innovation (BMI): tells us how a company can create value for their customers and capture value in ways that lock out competitors.
      - Stage-Gate (NPD): defines different stages of NPD, such as ‘business case’ and ‘test’ and defines the responsibilities of different departments at these stages. Management meets at the end of each stage of product development and has to approve the progres- sion to the next stage
      - Open Innovation: companies looking beyond their own organization for ideas--> it has led to the myth that it can address all the innovation issues of an organization.