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Innovation: Planning - Coggle Diagram
Innovation: Planning
INNOVATION PLANNING PROCESS
Determine the Vision
Set the Mission
Establish Goals and Objectives
Set Strategy
Specific Tactics and Actions
TECHNOLOGY STAGES AND PLANNING
Start-up
Growth
Maturity
Aging or Decline
FACTORS THAT AID INNOVATION PLANNING
Creativity
Organization-wide issues
Political issues
The innovation strategy has a number of benefits,
but it also has drawbacks.
Factors That Favor Innovation
Greater control of the process and the outcomes
Greater understanding of the technology produced and how to apply it
Greater ability to potentially develop the next generation of technology
Greater profit potential as a first mover
Factors That Discourage Innovation
The time required for an internal development strategy is greater
There is a greater risk of failure to develop the right product at the right time.
Keeping a pipeline of new products and/or processes is difficult at best.
TYPES OF INNOVATION
Product Innovation
Basic Research: Pure Research and Development
Applied Research: New Product Development
Systems Integration: Product Improvement
Process Innovation
Restructuring
Reengineering
Choosing to Pursue Process Innovation
APPLICATION OF THE PLANNING PROCESS
Ensuring that the identification of strategic issues focused outward on economic and technology issues rather than on internal organizational outcomes
Ensuring that strategic planners focused on the critical implications, risks, and trade-offs inherent in strategic alternatives
Structuring an ongoing process for top managers to regularly examine fundamental strategic challenges and opportunities
Connecting strategic planning directly to resource allocation decisions so that implementation issues are considered during the planning process
Promoting widespread support and involvement in the entire process
Planning for innovation is a complex process in which a wide range of issues must be examined
DEVELOPING A CLIMATE FOR INNOVATION