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Innovation management: an introduction, IMG_9047, Nguyễn Trần Quỳnh Châu…
Innovation management:
an introduction
1.1. The importance of innovation
Competitive Advantage
Differentiate from rivals
Market leadership
Adaptation to Change
Customer needs
Technology trends
Growth & Profitability
Market expansion
Sustain & increase profits
Operational Efficiency
Process improvement
Cost reduction
Human Resource Development
Creative environment
Employee skills & motivation
Social Contribution
Better quality of life
Sustainable development
1.3. The need to view innovation in an organizational context
The lone inventor/mad professor.
Science ≠ Innovation.
In reality, science is only one component of innovation.
Misconception: People often assume that science is equivalent to innovation, but in reality, this is not the case.
The true nature of innovation:
Innovation > Science
Scientific discoveries often precede commercial products by many years
Innovation requires an organizational context (strategy, market, resources, infrastructure) to transform ideas into value
Examples:
Electric light bulb 💡
Electricity was discovered earlier, but Thomas Edison organized laboratories, production, and distribution systems to commercialize it.
3D Printing 🖨️
Discovered in the 1980s. It became widely applied in manufacturing, healthcare, and architecture when organizations provided funding, production systems, and markets.
Internet 🌐
Originated from military/scientific research (ARPANET, 1960s). It only became commercialized in the 1990s thanks to technology companies and telecommunication infrastructure.
1.2. The study of innovation
Clasical and foundational studies
Schumpeter (1934, 1939, 1942) argued that the competition posed by new products was far more important than marginal changes in the
prices
of existing products
Abernathy and Utterback (1978) outlined the progression of innovation from
radical product innovation
changes to
incremental innovation
Recent and contemporary studies
Studies by Christensen (2003) suggest that to be successful in industries characterised by technological change, firms may be required to pursue innovations
beyond their customers demand
The importance of uncovering and satisfying the needs of customers
Disruptive innovations
Sustaining innovations
The importance of dynamic firm capabilities
1.4. Popular views of innovation
LOCUS
PRODUCT INNOVATION
PROCESS INNOVATION
BUSINESS MODEL INNOVATION
DEGREE
RADICAL INNOVATION
EX:
Switching from gasoline cars to electric cars
INCREMENTAL INNOVATION
EX:
Upgraded smart version
LEVEL
MODULAR INNOVATION
EX:
iPhone camera upgrades.
ARCHITECTURE INNOVATION
EX:
MacBook transition to the M1 chip.
INVENTON # INNOVATION
INVENTION:
Converting Intellectual thought in to a tangible new artefact.
INNOVATION:
Translation of the invention into the economy
CREATIVITY
Original behavior
Perceived to have value
The perception of value
CREATIVE INNOVATION
Innovation often results from creativity
Creative people provide unique ideas.
Creative organizations foster environment and motivation
SCIENCE AND TECHNOLOGY (S&T)
SCIENCE
Systematic and formulated knowledge
New information, previously unknown
TECHNOLOGY
The application of science
Apply scientific concepts, processes
Product of intentional human action
Nguyễn Trần Quỳnh Châu
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