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Managing Technological Innovation (BIF_5_MTI) Models of Innovation Safia Barikzai Module Leader Innovation Schumpeter defined economic innovation in "Theorie der Wirtschaftlichen Entwicklung" (1912): • • • • • The introduction of a new good — that is one with which consumers are not yet familiar — or of a new quality of a good. The introduction of an improved or better method of production, which need by no means be founded upon a discovery scientifically new, and can also exist in a better way of handling a commodity commercially. The opening of a new market that is a market into which the particular branch of manufacture of the country in question has not previously entered, whether or not this market has existed before. The conquest of a new source of supply of raw materials or halfmanufactured goods, again irrespective of whether this source already exists or whether it has first to be created. The carrying out of the better organization of any industry, like the creation of a monopoly position or the breaking up of a monopoly position. 4 Dimension of Innovation Space • Product Innovation – changes in the things (products/services) • Process Innovation – changes in which they are created and delivered • Position Innovation – changes in the context in which the products/services are introduced • Paradigm Innovation – changes in the underlying mental models which frame what the organisation does The 4 Ps of Innovation Space Quiz • Coming up with a new version of a popular ice cream is an example of radical innovation. • True or False? • Answer: False Incremental vs Radical • Incremental – what we do but better • Example: Windows 8 improving on previous version of Windows …. New features, optimisation • Radical – do something different • Example: Speech to Text Software Example Activity: your examples Size of Organisation Discontinuous Innovation What happens when the game changes? Activity: Can you think of an example of this – this can be a company’s product/service/process? Discontinuous Innovation could be due to a number of factors • New Market emerges • New Technology emerges • Political changes • New regulatory constraints • New entrant in the market – disruption Why do we need a strategy? Innovation Strategy Innovation Leadership or Followership SimVenture an exploration of software and innovation strategy Reference • Managing Innovation: Integrating Technological, Market and Organizational Change, 5th Edition • Joe Tidd, John Bessant • May 2013
