SlideShare a Scribd company logo
Innovation Management
                By
      Dr. Vijay Kr Khurana
Why do innovations fail?
• Innovations have high failure rate.
• There are many causes of failure of innovations. Some
  causes are external to the organisation and outside its
  influence of control. Others are internal and ultimately
  within the control of the organisation.
Why do innovations fail?
• Internal causes of failure can be divided into causes
  associated with the cultural infrastructure and causes
  associated with the innovation process itself.
• Failure in the cultural infrastructure varies between
  organisations but the following are common across all
  organisations at some stage in their life cycle (O'Sullivan,
  2002):
• Poor Leadership
• Poor Organisation
• Poor Communication
• Poor Empowerment
• Poor Knowledge Management
Why do innovations fail?
Common causes of failure within the innovation process in
  most organisations are as under:
• Poor goal definition
• Poor alignment of actions to goals
• Poor participation in teams
• Poor monitoring of results
• Poor communication and access to information
Why do innovations fail?
Innovation can fail if seen as an organisational process
  whose success stems from a mechanistic approach i.e.
  'pull lever obtain result'.
Some examples of internal causes are:
• R&D efforts not guided by marketing research or
  customer requirements & preferences
• R&D efforts not guided by manufacturing capabilities &
  skills and no change / improvement in mfg
  capabilities/skills
• No corresponding change in organizational processes
• New product launch not accompanied by change in
  marketing strategies.
Why do innovations fail?
External causes are beyond the control of the organization.
  Some examples of external causes are:
• Mismatch between price charged & value benefits
  perceived by customer
• Mere imitation /copy without any increase in value/utility
  to customer
• Competitor brings in disruptive technology / innovation
• Govt regulations undergo change adversly affecting
  innovation.
Why management of innovation is
              important?
        Economics of Innovation
• Economics call for study of cost vs benefits involved in the
  innovation for making a rational decision about the viability
  of innovation.
• Total costs of innovation including invisible costs, need to be
  studied for making a rational decision about the viability of
  innovation.
• Organisations spend a significant amount of their turnover on
  innovation. The average investment is estimated to be around
  four percent.
• This budget is typically spread across various functions
  including marketing, product design, information systems,
  manufacturing systems and quality assurance. The investment
  may vary by industry and by market positioning.  
Economics of Innovation
    Why management of innovation is
             important?
• Innovations have high rate of failure. Thus chances of
  huge losses are there due to high investment.
• The impact of failure goes beyond the simple loss of
  investment. Failure can also lead to loss of morale among
  employees, an increase in cynicism and even higher
  resistance to change in the future. Sometimes innovations
  lead to displacement of existing products or services.
• Sometimes, innovation may lead to price war.
  Competitor may introduce better product at lower price.
  Thus benefits of innovation may not be fully realized.
• Such losses also need to be accounted for.
Economics of Innovation
    Why management of innovation is
             important?
• Innovation should drive growth and, consequently,
  improve shareholder value. Business measures like
  balanced scorecards related to finances, processes,
  employees and customers should be used to find out
  benefits of innovation (e.g. new product revenue, time to
  market, customer and employee perception & satisfaction).
  Organizational capabilities can be evaluated through
  various evaluation frameworks e.g. EFQM (European
  Foundation for Quality Management).  
• Innovations are pursued when their estimated benefits
  outwieigh total estimated costs.
Innovation Strategies
Innovation strategies of an organization depend upon
  following factors:
• Government support and policies for technology and
  innovation
• Risk taking abilities of the organization
• Risk taking attitude of Top Management
• Organizational goals & policies
• Degree of technological changes
• Degre of competition
• Availabilty of funds / budgetory support for innovation
  process
• Age of organiztion viz new vs old organization
Innovation Strategies
Types of Innovation Strategies:
• Innovation Leader- Under this strategy, a firm seeks to be
  the first to introduce innovations and aims at tapping first
  mover advantages like increased reputation, pre-empting
  competition, early profits, new sales etc. Such stratgies
  focus on radical , open, non-linear, flexible innovation
  process.
• Innovation Follower – A conscious & active strategy, by
  which a firm chooses not to be first on innovations and aims
  at learning from the experiences of innovation leader, by
  low cost imitation, by bringing better products or services
  through improvement. etc. Such stratgies focus on
  incremental , closed, linear innovation process.
Innovation Strategies
Types of Innovation Strategies:
• Competition vs Collaboration Strategies
• Whether to go for competitive development of innovation
  or to go for collaborative development of innovation??
Innovation Strategies
Change in Innovation Strategies
It is very likely that a firm may like to change its innovation
    strategies at some point of time. A firm pursuing
    incremental innovation can shift to / transform to radical
    innovation by using some of following tools:
• Strategic Framing
• Scouting R&D
• Idea Portfolio
• High Impact Research
• Target Selection
• Rapid Product Development
• Rapid Commercialization
Innovation Strategies
Change in Innovation Strategies …. Contd …..
Similarly a firm pusuing pursuing radical innovation can
  shift to / transform to incremental innovation by taking
  some of following steps:
• Installing more gatekeepers at various stages
• Spreading budgetory support over longer periods
• Carrying out rigorous progress reviews
• Using more controls etc.
Innovative Organization
• Innovation requires a structure that is capable of
  coalescing /motivating individual technological
  performers & non-technological performers into an
  effectively functioning team.
• According to Mintzberg - An Innovative organization
  cannot rely on any form of standardized co-ordination.
  The enterprise must avoid : bureaucratic structures
  including structures that result into sharp division of
  labour, extensive unit differentiation, highly formalized
  behaviour.
• An innovative organization is one which facilitates
  creative chaos within a flexible guiding structure
• These are also called adhocracy organizations.
Traits of Innovative Organization
The enterprises should emphasize on :
• Top mangement’s commitment and support
• Capability / need to manage in the light of corporate
  restructuring & transient senior management
• Planning & control systems with high degree of
  flexibility
• Effective communication
• Absolute integrity between various sub-systems / parts of
  an organization - Tight coupling of complimentary skill
  sets
• Use of multifunctional teams - Higher order teaming
Traits of Innovative Organization
• Supporting organiztional culture & environment – like
         – Appropriate reward / incentive system
         – Respect for individual inititaive & personal
           growth
         – Tolerance for honest mistakes
         – Allowing room for failure
• Enthusiasm for knowledge
• Drive to stay ahead in knowledge
• Willingness for Alteration to activities
Innovative Organization
Modes of Enterprise Innovation
• Science Based Product Innovation Mode Enterprises -
  These enterprises spend big amounts on R&D and are
  Technological leaders & Pace setters.
• The Enterpreneurial Fast Track Experimentation
  Innovation Mode Enterprises - are characterized by
  high degree of experimentation to develop a continuous
  flow of products & services. Viz. 3M
• Global Cost Leadership Innovation Mode Enterprises -
  are process innovaters, with strength driven from
  development or acquisition of new processes. These are
  high quality & low cost driven.
Innovation Organization
Modes of Enterprise Innovation …. Contd …..
• Reliance on Information Technology & Process Adoption
  Mode Enterprises - are innovators who incorporate new
  ideas stemming from information technology or other
  engineering enterprises
• Social Innovation Mode Enterprises –combine busniess
  methods and social value creation. They plug the gap
  between the roles that governmental and philonthropic
  efforts play, often solving societal problems, not in
  opposition to or even at the charity of the organizations,
  but rather in collaboration and mutual benefit to the
  private sector.
Management of Innovation
• Innovation management is the process of
  managing innovations in organisations.
• According to National Research Council (NRC),
  Management of Innovation means linking of
  engineering, science & management disciplines
  to plan, develop and implement technological
  capabilities to shape & accomplish the strategic
  and operational objectives of an organization. 
• Management of Innovation deals with meeting
  and managing eight primary needs of an
  organization.
Management of Innovation
These eight primary needs are as under : -
• How to integrate technology into overall strategic objectives of
  an organization?
• How to get into & out of technologies faster & more
  efficiently?
• How to assess or evaluate technology more efficiently?
• How to accomplish technology transfer?
• How to reduce new product development time?
• How to manage, large, complex & interdisciplinary or inter-
  organisational projects & systems?
• How to manage organization’s internal use of technology?
• How to leverage the effectiveness of the technical
  professionals?
Factors which affect Innovation
     Management in Organization
• Degree of formalization, formal structures, systems &
  procedures
• Centralization
• Resources available
• Openness to external information
• Degree of informal communication
Challenges in Management of
                  Innovation
Challenges for small organization as under : -
• Lack of risk taking abilities
• Non availability of adequate resources viz finance, technical
  manpower etc
• Low linkage with external environment
• Difficulty in testing
• Difficulty in conducting market survey
• Difficulty in commercialization
• Difficulty in marketing
Challenges in Management of
                 Innovation
Challenges for big organization as under : -
• Degree of formalization, formal structures, systems &
  procedures
• Degree of centralization
• Degree of formal communication
• Corporate Restructuring & Transient senior
  management
• Integration of many complex projects being executed
  simultaneously
• Bigger teams & their management
• Duplication of efforts
• Ensuring right direction
Management of Innovation
For proper management of Innovation, following should be
  ensured:
• Likely Failures should be identified and screened out as
  early in the process as possible.
• Exceptional productivity is concentrated among a few
  people. There is need to employ, develop and retain
  exceptionally talented inventors.
• Seeking maximum participation of all the concerened
  individuals. Individuals are the 'atom' of the organisation
  close to the minutiae of daily activities.
• Strong integration & orchestration of cross functional
  activities
• Top management’s commitment and support
Management of Innovation
Contd…
• Capability / need to manage in the light of corporate
  restructuring & transient senior management
• The enterprises should emphasis on
   – Planning & control systems with high degree of
     flexibility
   – Respect for individual initiative & personal growth
   – Tolerance for honest mistakes; allowing room for
     failure
Management of Innovation
Contd…
• Innovation management education be aimed at upper
  level managers & middle level managers comprising both
  non-technical managers as well as technological
  managers, for creating a common ground across the
  organization
• Building a unified and committed multifunctional team
• Supporting organizational culture & environment
Management of Innovation
Contd…
• The incharge / manager of technology must be well
  trained & sensitive to patterns of technology changes,
  market needs, vision to see business opportunities & have
  commitment for protection of firm’s technology .
• Supportive management structures, rationales & actions.
• Avoiding bureaucratic structures including structures
  that result into sharp division of labour, extensive unit
  differentiation, highly formalized behaviour
• Effective communication in the organization
Patents vs Copyrights
Invention & Patent
• Patent gives the inventor exclusive use of that
  invention & the right to assign that use.
  Invention need to be registered with specified
  government bodies who in turn grant patent. 
Trade Secret  
• A Trade Secret is any commercial formula,
  device, pattern, process or information that
  provides an enterprise an competitive edge over
  others who do not know it.
Patents vs Copyrights
Know How 
• Knowhow is a factual accumulation of knowledge-
  usually as a result of trial & error. It cannot be protected
  or licensed until it is recorded in tangible medium. 
Copy Right 
• A Copy Right is an exclusive right granted to authors,
  composers, artists or their assignees for the life of the
  individual plus few more years. These rights are granted
  to individuals when some new work is done / created by
  them.
Patents vs Copyrights
Trade Mark 
• A Trade Mark is a word, name, symbol, device, letter,
  numeral, picture or any combination of these in any form
  or arrangement that is used to identify the origin of
  goods or services. Like copy-rights, trade marks can also
  be registered. 
Innovation Management
                By
      Dr. Vijay Kr Khurana

More Related Content

What's hot

Creativity and innovation
Creativity and innovation  Creativity and innovation
Creativity and innovation
Aqeel Zaid
 
Module - Creativity, Innovation & Entrepreneurship
Module - Creativity, Innovation & EntrepreneurshipModule - Creativity, Innovation & Entrepreneurship
Module - Creativity, Innovation & Entrepreneurship
CIAKL II - Cinema and industry alliance for knowledge and learning
 
Innovation Process Management
Innovation Process ManagementInnovation Process Management
Innovation Process Management
Dr. Arturo Perez
 
Innovation management
Innovation managementInnovation management
Innovation management
Deepika Malhotra
 
Innovation Frameworks
Innovation FrameworksInnovation Frameworks
Innovation Frameworks
Masood Nasser
 
Strategic innovation
Strategic innovationStrategic innovation
Strategic innovation
Pravin Asar
 
Innovation
InnovationInnovation
Basics of innovation
Basics of innovationBasics of innovation
Basics of innovation
Julie Anne Reda
 
Seminar presentation-innovation-slides
Seminar presentation-innovation-slidesSeminar presentation-innovation-slides
Seminar presentation-innovation-slides
Beamos Technologies
 
Why innovation is important to business success
Why innovation is important to business successWhy innovation is important to business success
Why innovation is important to business success
Frank Reynold
 
Technology and Innovation Management
Technology and Innovation ManagementTechnology and Innovation Management
Technology and Innovation Management
Jamil AlKhatib
 
Understand Innovation and Innovation Management
Understand Innovation and Innovation ManagementUnderstand Innovation and Innovation Management
Understand Innovation and Innovation Management
Gordon Graham
 
Successful Innovation Management
Successful Innovation Management Successful Innovation Management
The role of creativity in entrepreneurship
The role of creativity in entrepreneurshipThe role of creativity in entrepreneurship
The role of creativity in entrepreneurship
Hammad Hashmi
 
Innovation
Innovation Innovation
Innovation
CRM Institute
 
Management of Innovation
Management of InnovationManagement of Innovation
Management of Innovation
David Memorial Institute of Management
 
Innovation and creativity
Innovation and creativityInnovation and creativity
Innovation and creativity
MohithReddyVuyyuru
 
Technology and Innovation Management
Technology and Innovation ManagementTechnology and Innovation Management
Technology and Innovation Management
Jamil AlKhatib
 
Crevativty & innovation ppt mba
Crevativty & innovation ppt  mbaCrevativty & innovation ppt  mba
Crevativty & innovation ppt mba
Babasab Patil
 
Importance of Innovation in Business
Importance of Innovation in BusinessImportance of Innovation in Business
Importance of Innovation in Business
Aashaa Zahid
 

What's hot (20)

Creativity and innovation
Creativity and innovation  Creativity and innovation
Creativity and innovation
 
Module - Creativity, Innovation & Entrepreneurship
Module - Creativity, Innovation & EntrepreneurshipModule - Creativity, Innovation & Entrepreneurship
Module - Creativity, Innovation & Entrepreneurship
 
Innovation Process Management
Innovation Process ManagementInnovation Process Management
Innovation Process Management
 
Innovation management
Innovation managementInnovation management
Innovation management
 
Innovation Frameworks
Innovation FrameworksInnovation Frameworks
Innovation Frameworks
 
Strategic innovation
Strategic innovationStrategic innovation
Strategic innovation
 
Innovation
InnovationInnovation
Innovation
 
Basics of innovation
Basics of innovationBasics of innovation
Basics of innovation
 
Seminar presentation-innovation-slides
Seminar presentation-innovation-slidesSeminar presentation-innovation-slides
Seminar presentation-innovation-slides
 
Why innovation is important to business success
Why innovation is important to business successWhy innovation is important to business success
Why innovation is important to business success
 
Technology and Innovation Management
Technology and Innovation ManagementTechnology and Innovation Management
Technology and Innovation Management
 
Understand Innovation and Innovation Management
Understand Innovation and Innovation ManagementUnderstand Innovation and Innovation Management
Understand Innovation and Innovation Management
 
Successful Innovation Management
Successful Innovation Management Successful Innovation Management
Successful Innovation Management
 
The role of creativity in entrepreneurship
The role of creativity in entrepreneurshipThe role of creativity in entrepreneurship
The role of creativity in entrepreneurship
 
Innovation
Innovation Innovation
Innovation
 
Management of Innovation
Management of InnovationManagement of Innovation
Management of Innovation
 
Innovation and creativity
Innovation and creativityInnovation and creativity
Innovation and creativity
 
Technology and Innovation Management
Technology and Innovation ManagementTechnology and Innovation Management
Technology and Innovation Management
 
Crevativty & innovation ppt mba
Crevativty & innovation ppt  mbaCrevativty & innovation ppt  mba
Crevativty & innovation ppt mba
 
Importance of Innovation in Business
Importance of Innovation in BusinessImportance of Innovation in Business
Importance of Innovation in Business
 

Viewers also liked

Innovation
InnovationInnovation
Innovation
Cieka Chan
 
Innovation Economics Next
Innovation Economics   NextInnovation Economics   Next
Innovation Economics Next
ingenesist
 
Antibiotics and the Economics of Innovation
Antibiotics and the Economics of InnovationAntibiotics and the Economics of Innovation
Antibiotics and the Economics of Innovation
Office of Health Economics
 
Innovation, Entrepreneurship, Economic Growth and Sustainable Development
Innovation, Entrepreneurship, Economic Growth and Sustainable DevelopmentInnovation, Entrepreneurship, Economic Growth and Sustainable Development
Innovation, Entrepreneurship, Economic Growth and Sustainable Development
Jenny Darroch
 
Schumpeter theory of economic development
Schumpeter theory of economic developmentSchumpeter theory of economic development
Schumpeter theory of economic development
vishnuchandradas
 
Innovation is the new economy
Innovation is the new economyInnovation is the new economy
Innovation is the new economy
Thoughtworks
 
Concurrent engineering
Concurrent engineeringConcurrent engineering
Concurrent engineering
Ashbin Jose
 
Lecture 1 - The economic impact of technological change and innovation: an hi...
Lecture 1 - The economic impact of technological change and innovation: an hi...Lecture 1 - The economic impact of technological change and innovation: an hi...
Lecture 1 - The economic impact of technological change and innovation: an hi...
UNU.MERIT
 
Concurrent Engineering
Concurrent EngineeringConcurrent Engineering
Concurrent Engineering
Nitin Chandekar
 
Concurrent Engineering
Concurrent EngineeringConcurrent Engineering
Concurrent Engineering
ajithsrc
 
Problem solving
Problem solvingProblem solving
Problem solving
Nursing Path
 
PROBLEM SOLVING POWERPOINT
PROBLEM SOLVING POWERPOINT PROBLEM SOLVING POWERPOINT
PROBLEM SOLVING POWERPOINT
Andrew Schwartz
 

Viewers also liked (12)

Innovation
InnovationInnovation
Innovation
 
Innovation Economics Next
Innovation Economics   NextInnovation Economics   Next
Innovation Economics Next
 
Antibiotics and the Economics of Innovation
Antibiotics and the Economics of InnovationAntibiotics and the Economics of Innovation
Antibiotics and the Economics of Innovation
 
Innovation, Entrepreneurship, Economic Growth and Sustainable Development
Innovation, Entrepreneurship, Economic Growth and Sustainable DevelopmentInnovation, Entrepreneurship, Economic Growth and Sustainable Development
Innovation, Entrepreneurship, Economic Growth and Sustainable Development
 
Schumpeter theory of economic development
Schumpeter theory of economic developmentSchumpeter theory of economic development
Schumpeter theory of economic development
 
Innovation is the new economy
Innovation is the new economyInnovation is the new economy
Innovation is the new economy
 
Concurrent engineering
Concurrent engineeringConcurrent engineering
Concurrent engineering
 
Lecture 1 - The economic impact of technological change and innovation: an hi...
Lecture 1 - The economic impact of technological change and innovation: an hi...Lecture 1 - The economic impact of technological change and innovation: an hi...
Lecture 1 - The economic impact of technological change and innovation: an hi...
 
Concurrent Engineering
Concurrent EngineeringConcurrent Engineering
Concurrent Engineering
 
Concurrent Engineering
Concurrent EngineeringConcurrent Engineering
Concurrent Engineering
 
Problem solving
Problem solvingProblem solving
Problem solving
 
PROBLEM SOLVING POWERPOINT
PROBLEM SOLVING POWERPOINT PROBLEM SOLVING POWERPOINT
PROBLEM SOLVING POWERPOINT
 

Similar to Innovation management

Innovation-Reverse innovation by Roy
Innovation-Reverse innovation by RoyInnovation-Reverse innovation by Roy
Innovation-Reverse innovation by Roy
Divyanshu Roy
 
Chapter-2.pptx
Chapter-2.pptxChapter-2.pptx
Chapter-2.pptx
shamirmahmud1
 
2016 - 2. Innovation as a core business process.pot
2016 - 2. Innovation as a core business process.pot2016 - 2. Innovation as a core business process.pot
2016 - 2. Innovation as a core business process.pot
Nadia Lushchak
 
innovation and change in healthcare ( pptx
innovation and change in healthcare ( pptxinnovation and change in healthcare ( pptx
innovation and change in healthcare ( pptx
temitope0345
 
Chapter 7 Managing Technology and Innovation.pptx
Chapter 7 Managing Technology and Innovation.pptxChapter 7 Managing Technology and Innovation.pptx
Chapter 7 Managing Technology and Innovation.pptx
SydneyJaydeanKhanyil
 
Strategy entrepreneurship & innovation
Strategy entrepreneurship & innovationStrategy entrepreneurship & innovation
Strategy entrepreneurship & innovation
Ilhamsyah Ramadhan
 
INNOVATION.pptx
INNOVATION.pptxINNOVATION.pptx
INNOVATION.pptx
SiddharthSaxena66
 
INNOVATION.pptx
INNOVATION.pptxINNOVATION.pptx
INNOVATION.pptx
AmoghSaxena11
 
Innovation and new product development strategy
Innovation and new product development strategyInnovation and new product development strategy
Innovation and new product development strategy
AthiraKrishnakumar3
 
Strategic Change and Strategic Leadership
Strategic Change and Strategic LeadershipStrategic Change and Strategic Leadership
Strategic Change and Strategic Leadership
Sensei Ndlovu
 
A Guideline for Organizational Design.pdf
A Guideline for Organizational Design.pdfA Guideline for Organizational Design.pdf
A Guideline for Organizational Design.pdf
Seta Wicaksana
 
Tech connect spring 2014 technology commercialziation overview (2)
Tech connect spring 2014   technology commercialziation overview (2)Tech connect spring 2014   technology commercialziation overview (2)
Tech connect spring 2014 technology commercialziation overview (2)
Lassonde School of Engineering
 
Strategic entrepreneurial growth
Strategic entrepreneurial growthStrategic entrepreneurial growth
Strategic entrepreneurial growth
Tecnológico de Monterrey
 
Management of Innovation in Engineering
Management of Innovation in EngineeringManagement of Innovation in Engineering
Management of Innovation in Engineering
Natalia Mykhaylova
 
Innovation Audit Slides
Innovation Audit SlidesInnovation Audit Slides
Innovation Audit Slides
Chris Mobbs
 
Business transformation
Business transformationBusiness transformation
Business transformation
Chandan Patary
 
Operation and strategy course 1.0
Operation and strategy  course 1.0Operation and strategy  course 1.0
Operation and strategy course 1.0
AbdelhamidOmarmMBAPM
 
Leadership and Management(pdf)
Leadership and Management(pdf)Leadership and Management(pdf)
Leadership and Management(pdf)
upindera. K Kaul
 
MS Lecture 5 org change
MS Lecture 5 org changeMS Lecture 5 org change
MS Lecture 5 org change
Est
 
2013-03 Creating a Culture of Innovation for Health Plans
2013-03 Creating a Culture of Innovation for Health Plans2013-03 Creating a Culture of Innovation for Health Plans
2013-03 Creating a Culture of Innovation for Health Plans
imagine.GO
 

Similar to Innovation management (20)

Innovation-Reverse innovation by Roy
Innovation-Reverse innovation by RoyInnovation-Reverse innovation by Roy
Innovation-Reverse innovation by Roy
 
Chapter-2.pptx
Chapter-2.pptxChapter-2.pptx
Chapter-2.pptx
 
2016 - 2. Innovation as a core business process.pot
2016 - 2. Innovation as a core business process.pot2016 - 2. Innovation as a core business process.pot
2016 - 2. Innovation as a core business process.pot
 
innovation and change in healthcare ( pptx
innovation and change in healthcare ( pptxinnovation and change in healthcare ( pptx
innovation and change in healthcare ( pptx
 
Chapter 7 Managing Technology and Innovation.pptx
Chapter 7 Managing Technology and Innovation.pptxChapter 7 Managing Technology and Innovation.pptx
Chapter 7 Managing Technology and Innovation.pptx
 
Strategy entrepreneurship & innovation
Strategy entrepreneurship & innovationStrategy entrepreneurship & innovation
Strategy entrepreneurship & innovation
 
INNOVATION.pptx
INNOVATION.pptxINNOVATION.pptx
INNOVATION.pptx
 
INNOVATION.pptx
INNOVATION.pptxINNOVATION.pptx
INNOVATION.pptx
 
Innovation and new product development strategy
Innovation and new product development strategyInnovation and new product development strategy
Innovation and new product development strategy
 
Strategic Change and Strategic Leadership
Strategic Change and Strategic LeadershipStrategic Change and Strategic Leadership
Strategic Change and Strategic Leadership
 
A Guideline for Organizational Design.pdf
A Guideline for Organizational Design.pdfA Guideline for Organizational Design.pdf
A Guideline for Organizational Design.pdf
 
Tech connect spring 2014 technology commercialziation overview (2)
Tech connect spring 2014   technology commercialziation overview (2)Tech connect spring 2014   technology commercialziation overview (2)
Tech connect spring 2014 technology commercialziation overview (2)
 
Strategic entrepreneurial growth
Strategic entrepreneurial growthStrategic entrepreneurial growth
Strategic entrepreneurial growth
 
Management of Innovation in Engineering
Management of Innovation in EngineeringManagement of Innovation in Engineering
Management of Innovation in Engineering
 
Innovation Audit Slides
Innovation Audit SlidesInnovation Audit Slides
Innovation Audit Slides
 
Business transformation
Business transformationBusiness transformation
Business transformation
 
Operation and strategy course 1.0
Operation and strategy  course 1.0Operation and strategy  course 1.0
Operation and strategy course 1.0
 
Leadership and Management(pdf)
Leadership and Management(pdf)Leadership and Management(pdf)
Leadership and Management(pdf)
 
MS Lecture 5 org change
MS Lecture 5 org changeMS Lecture 5 org change
MS Lecture 5 org change
 
2013-03 Creating a Culture of Innovation for Health Plans
2013-03 Creating a Culture of Innovation for Health Plans2013-03 Creating a Culture of Innovation for Health Plans
2013-03 Creating a Culture of Innovation for Health Plans
 

More from VijayKrKhurana

Ranking & accreditation slide share
Ranking & accreditation slide shareRanking & accreditation slide share
Ranking & accreditation slide share
VijayKrKhurana
 
Importanceoftechnology
ImportanceoftechnologyImportanceoftechnology
Importanceoftechnology
VijayKrKhurana
 
Types of changes & transformation
Types of changes & transformationTypes of changes & transformation
Types of changes & transformation
VijayKrKhurana
 
Change management
Change managementChange management
Change management
VijayKrKhurana
 
Change process
Change processChange process
Change process
VijayKrKhurana
 
Creative problem solving
Creative problem solvingCreative problem solving
Creative problem solving
VijayKrKhurana
 
Creative process
Creative processCreative process
Creative process
VijayKrKhurana
 
Creativity stimulation & management
Creativity stimulation & managementCreativity stimulation & management
Creativity stimulation & management
VijayKrKhurana
 
Product innovation & process innovation
Product innovation & process innovationProduct innovation & process innovation
Product innovation & process innovation
VijayKrKhurana
 
Innovation process & models
Innovation process & modelsInnovation process & models
Innovation process & models
VijayKrKhurana
 
Technology intelliegence & forecasting
Technology intelliegence & forecastingTechnology intelliegence & forecasting
Technology intelliegence & forecasting
VijayKrKhurana
 
Technology strategy & development
Technology strategy & development Technology strategy & development
Technology strategy & development
VijayKrKhurana
 
Technology transfer & acquisition
Technology transfer & acquisitionTechnology transfer & acquisition
Technology transfer & acquisition
VijayKrKhurana
 
Technology management
Technology managementTechnology management
Technology management
VijayKrKhurana
 
Importance of technology
Importance of technologyImportance of technology
Importance of technology
VijayKrKhurana
 
Technology absorption & diffusion
Technology absorption & diffusionTechnology absorption & diffusion
Technology absorption & diffusion
VijayKrKhurana
 
Technology life cycle
Technology life cycleTechnology life cycle
Technology life cycle
VijayKrKhurana
 

More from VijayKrKhurana (17)

Ranking & accreditation slide share
Ranking & accreditation slide shareRanking & accreditation slide share
Ranking & accreditation slide share
 
Importanceoftechnology
ImportanceoftechnologyImportanceoftechnology
Importanceoftechnology
 
Types of changes & transformation
Types of changes & transformationTypes of changes & transformation
Types of changes & transformation
 
Change management
Change managementChange management
Change management
 
Change process
Change processChange process
Change process
 
Creative problem solving
Creative problem solvingCreative problem solving
Creative problem solving
 
Creative process
Creative processCreative process
Creative process
 
Creativity stimulation & management
Creativity stimulation & managementCreativity stimulation & management
Creativity stimulation & management
 
Product innovation & process innovation
Product innovation & process innovationProduct innovation & process innovation
Product innovation & process innovation
 
Innovation process & models
Innovation process & modelsInnovation process & models
Innovation process & models
 
Technology intelliegence & forecasting
Technology intelliegence & forecastingTechnology intelliegence & forecasting
Technology intelliegence & forecasting
 
Technology strategy & development
Technology strategy & development Technology strategy & development
Technology strategy & development
 
Technology transfer & acquisition
Technology transfer & acquisitionTechnology transfer & acquisition
Technology transfer & acquisition
 
Technology management
Technology managementTechnology management
Technology management
 
Importance of technology
Importance of technologyImportance of technology
Importance of technology
 
Technology absorption & diffusion
Technology absorption & diffusionTechnology absorption & diffusion
Technology absorption & diffusion
 
Technology life cycle
Technology life cycleTechnology life cycle
Technology life cycle
 

Recently uploaded

GKohler - Retail Scavenger Hunt Presentation
GKohler - Retail Scavenger Hunt PresentationGKohler - Retail Scavenger Hunt Presentation
GKohler - Retail Scavenger Hunt Presentation
GraceKohler1
 
Science Around Us Module 2 Matter Around Us
Science Around Us Module 2 Matter Around UsScience Around Us Module 2 Matter Around Us
Science Around Us Module 2 Matter Around Us
PennapaKeavsiri
 
Kirill Klip GEM Royalty TNR Gold Lithium Presentation
Kirill Klip GEM Royalty TNR Gold Lithium PresentationKirill Klip GEM Royalty TNR Gold Lithium Presentation
Kirill Klip GEM Royalty TNR Gold Lithium Presentation
Kirill Klip
 
State of D2C in India: A Logistics Update
State of D2C in India: A Logistics UpdateState of D2C in India: A Logistics Update
State of D2C in India: A Logistics Update
RedSeer
 
欧洲杯投注-欧洲杯投注外围盘口-欧洲杯投注盘口app|【​网址​🎉ac22.net🎉​】
欧洲杯投注-欧洲杯投注外围盘口-欧洲杯投注盘口app|【​网址​🎉ac22.net🎉​】欧洲杯投注-欧洲杯投注外围盘口-欧洲杯投注盘口app|【​网址​🎉ac22.net🎉​】
欧洲杯投注-欧洲杯投注外围盘口-欧洲杯投注盘口app|【​网址​🎉ac22.net🎉​】
concepsionchomo153
 
Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...
Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...
Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...
Adani case
 
1Q24_HYUNDAI CAPITAL SERVICES INC. AND SUBSIDIARIES
1Q24_HYUNDAI CAPITAL SERVICES INC. AND SUBSIDIARIES1Q24_HYUNDAI CAPITAL SERVICES INC. AND SUBSIDIARIES
1Q24_HYUNDAI CAPITAL SERVICES INC. AND SUBSIDIARIES
irhcs
 
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
➒➌➎➏➑➐➋➑➐➐Dpboss Matka Guessing Satta Matka Kalyan Chart Indian Matka
 
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan ChartSatta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results
 
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan ChartSatta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results
 
Kirill Klip GEM Royalty TNR Gold Copper Presentation
Kirill Klip GEM Royalty TNR Gold Copper PresentationKirill Klip GEM Royalty TNR Gold Copper Presentation
Kirill Klip GEM Royalty TNR Gold Copper Presentation
Kirill Klip
 
Registered-Establishment-List-in-Uttarakhand-pdf.pdf
Registered-Establishment-List-in-Uttarakhand-pdf.pdfRegistered-Establishment-List-in-Uttarakhand-pdf.pdf
Registered-Establishment-List-in-Uttarakhand-pdf.pdf
dazzjoker
 
Enhancing Adoption of AI in Agri-food: Introduction
Enhancing Adoption of AI in Agri-food: IntroductionEnhancing Adoption of AI in Agri-food: Introduction
Enhancing Adoption of AI in Agri-food: Introduction
Cor Verdouw
 
The Role of White Label Bookkeeping Services in Supporting the Growth and Sca...
The Role of White Label Bookkeeping Services in Supporting the Growth and Sca...The Role of White Label Bookkeeping Services in Supporting the Growth and Sca...
The Role of White Label Bookkeeping Services in Supporting the Growth and Sca...
YourLegal Accounting
 
Cover Story - China's Investment Leader - Dr. Alyce SU
Cover Story - China's Investment Leader - Dr. Alyce SUCover Story - China's Investment Leader - Dr. Alyce SU
Cover Story - China's Investment Leader - Dr. Alyce SU
msthrill
 
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan ChartSatta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results
 
IMG_20240615_091110.pdf dpboss guessing
IMG_20240615_091110.pdf dpboss  guessingIMG_20240615_091110.pdf dpboss  guessing
Efficient PHP Development Solutions for Dynamic Web Applications
Efficient PHP Development Solutions for Dynamic Web ApplicationsEfficient PHP Development Solutions for Dynamic Web Applications
Efficient PHP Development Solutions for Dynamic Web Applications
Harwinder Singh
 
Pro Tips for Effortless Contract Management
Pro Tips for Effortless Contract ManagementPro Tips for Effortless Contract Management
Pro Tips for Effortless Contract Management
Eternity Paralegal Services
 
Discover the Beauty and Functionality of The Expert Remodeling Service
Discover the Beauty and Functionality of The Expert Remodeling ServiceDiscover the Beauty and Functionality of The Expert Remodeling Service
Discover the Beauty and Functionality of The Expert Remodeling Service
obriengroupinc04
 

Recently uploaded (20)

GKohler - Retail Scavenger Hunt Presentation
GKohler - Retail Scavenger Hunt PresentationGKohler - Retail Scavenger Hunt Presentation
GKohler - Retail Scavenger Hunt Presentation
 
Science Around Us Module 2 Matter Around Us
Science Around Us Module 2 Matter Around UsScience Around Us Module 2 Matter Around Us
Science Around Us Module 2 Matter Around Us
 
Kirill Klip GEM Royalty TNR Gold Lithium Presentation
Kirill Klip GEM Royalty TNR Gold Lithium PresentationKirill Klip GEM Royalty TNR Gold Lithium Presentation
Kirill Klip GEM Royalty TNR Gold Lithium Presentation
 
State of D2C in India: A Logistics Update
State of D2C in India: A Logistics UpdateState of D2C in India: A Logistics Update
State of D2C in India: A Logistics Update
 
欧洲杯投注-欧洲杯投注外围盘口-欧洲杯投注盘口app|【​网址​🎉ac22.net🎉​】
欧洲杯投注-欧洲杯投注外围盘口-欧洲杯投注盘口app|【​网址​🎉ac22.net🎉​】欧洲杯投注-欧洲杯投注外围盘口-欧洲杯投注盘口app|【​网址​🎉ac22.net🎉​】
欧洲杯投注-欧洲杯投注外围盘口-欧洲杯投注盘口app|【​网址​🎉ac22.net🎉​】
 
Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...
Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...
Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...
 
1Q24_HYUNDAI CAPITAL SERVICES INC. AND SUBSIDIARIES
1Q24_HYUNDAI CAPITAL SERVICES INC. AND SUBSIDIARIES1Q24_HYUNDAI CAPITAL SERVICES INC. AND SUBSIDIARIES
1Q24_HYUNDAI CAPITAL SERVICES INC. AND SUBSIDIARIES
 
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
 
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan ChartSatta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
 
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan ChartSatta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
 
Kirill Klip GEM Royalty TNR Gold Copper Presentation
Kirill Klip GEM Royalty TNR Gold Copper PresentationKirill Klip GEM Royalty TNR Gold Copper Presentation
Kirill Klip GEM Royalty TNR Gold Copper Presentation
 
Registered-Establishment-List-in-Uttarakhand-pdf.pdf
Registered-Establishment-List-in-Uttarakhand-pdf.pdfRegistered-Establishment-List-in-Uttarakhand-pdf.pdf
Registered-Establishment-List-in-Uttarakhand-pdf.pdf
 
Enhancing Adoption of AI in Agri-food: Introduction
Enhancing Adoption of AI in Agri-food: IntroductionEnhancing Adoption of AI in Agri-food: Introduction
Enhancing Adoption of AI in Agri-food: Introduction
 
The Role of White Label Bookkeeping Services in Supporting the Growth and Sca...
The Role of White Label Bookkeeping Services in Supporting the Growth and Sca...The Role of White Label Bookkeeping Services in Supporting the Growth and Sca...
The Role of White Label Bookkeeping Services in Supporting the Growth and Sca...
 
Cover Story - China's Investment Leader - Dr. Alyce SU
Cover Story - China's Investment Leader - Dr. Alyce SUCover Story - China's Investment Leader - Dr. Alyce SU
Cover Story - China's Investment Leader - Dr. Alyce SU
 
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan ChartSatta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
 
IMG_20240615_091110.pdf dpboss guessing
IMG_20240615_091110.pdf dpboss  guessingIMG_20240615_091110.pdf dpboss  guessing
IMG_20240615_091110.pdf dpboss guessing
 
Efficient PHP Development Solutions for Dynamic Web Applications
Efficient PHP Development Solutions for Dynamic Web ApplicationsEfficient PHP Development Solutions for Dynamic Web Applications
Efficient PHP Development Solutions for Dynamic Web Applications
 
Pro Tips for Effortless Contract Management
Pro Tips for Effortless Contract ManagementPro Tips for Effortless Contract Management
Pro Tips for Effortless Contract Management
 
Discover the Beauty and Functionality of The Expert Remodeling Service
Discover the Beauty and Functionality of The Expert Remodeling ServiceDiscover the Beauty and Functionality of The Expert Remodeling Service
Discover the Beauty and Functionality of The Expert Remodeling Service
 

Innovation management

  • 1. Innovation Management By Dr. Vijay Kr Khurana
  • 2. Why do innovations fail? • Innovations have high failure rate. • There are many causes of failure of innovations. Some causes are external to the organisation and outside its influence of control. Others are internal and ultimately within the control of the organisation.
  • 3. Why do innovations fail? • Internal causes of failure can be divided into causes associated with the cultural infrastructure and causes associated with the innovation process itself. • Failure in the cultural infrastructure varies between organisations but the following are common across all organisations at some stage in their life cycle (O'Sullivan, 2002): • Poor Leadership • Poor Organisation • Poor Communication • Poor Empowerment • Poor Knowledge Management
  • 4. Why do innovations fail? Common causes of failure within the innovation process in most organisations are as under: • Poor goal definition • Poor alignment of actions to goals • Poor participation in teams • Poor monitoring of results • Poor communication and access to information
  • 5. Why do innovations fail? Innovation can fail if seen as an organisational process whose success stems from a mechanistic approach i.e. 'pull lever obtain result'. Some examples of internal causes are: • R&D efforts not guided by marketing research or customer requirements & preferences • R&D efforts not guided by manufacturing capabilities & skills and no change / improvement in mfg capabilities/skills • No corresponding change in organizational processes • New product launch not accompanied by change in marketing strategies.
  • 6. Why do innovations fail? External causes are beyond the control of the organization. Some examples of external causes are: • Mismatch between price charged & value benefits perceived by customer • Mere imitation /copy without any increase in value/utility to customer • Competitor brings in disruptive technology / innovation • Govt regulations undergo change adversly affecting innovation.
  • 7. Why management of innovation is important? Economics of Innovation • Economics call for study of cost vs benefits involved in the innovation for making a rational decision about the viability of innovation. • Total costs of innovation including invisible costs, need to be studied for making a rational decision about the viability of innovation. • Organisations spend a significant amount of their turnover on innovation. The average investment is estimated to be around four percent. • This budget is typically spread across various functions including marketing, product design, information systems, manufacturing systems and quality assurance. The investment may vary by industry and by market positioning.  
  • 8. Economics of Innovation Why management of innovation is important? • Innovations have high rate of failure. Thus chances of huge losses are there due to high investment. • The impact of failure goes beyond the simple loss of investment. Failure can also lead to loss of morale among employees, an increase in cynicism and even higher resistance to change in the future. Sometimes innovations lead to displacement of existing products or services. • Sometimes, innovation may lead to price war. Competitor may introduce better product at lower price. Thus benefits of innovation may not be fully realized. • Such losses also need to be accounted for.
  • 9. Economics of Innovation Why management of innovation is important? • Innovation should drive growth and, consequently, improve shareholder value. Business measures like balanced scorecards related to finances, processes, employees and customers should be used to find out benefits of innovation (e.g. new product revenue, time to market, customer and employee perception & satisfaction). Organizational capabilities can be evaluated through various evaluation frameworks e.g. EFQM (European Foundation for Quality Management).   • Innovations are pursued when their estimated benefits outwieigh total estimated costs.
  • 10. Innovation Strategies Innovation strategies of an organization depend upon following factors: • Government support and policies for technology and innovation • Risk taking abilities of the organization • Risk taking attitude of Top Management • Organizational goals & policies • Degree of technological changes • Degre of competition • Availabilty of funds / budgetory support for innovation process • Age of organiztion viz new vs old organization
  • 11. Innovation Strategies Types of Innovation Strategies: • Innovation Leader- Under this strategy, a firm seeks to be the first to introduce innovations and aims at tapping first mover advantages like increased reputation, pre-empting competition, early profits, new sales etc. Such stratgies focus on radical , open, non-linear, flexible innovation process. • Innovation Follower – A conscious & active strategy, by which a firm chooses not to be first on innovations and aims at learning from the experiences of innovation leader, by low cost imitation, by bringing better products or services through improvement. etc. Such stratgies focus on incremental , closed, linear innovation process.
  • 12. Innovation Strategies Types of Innovation Strategies: • Competition vs Collaboration Strategies • Whether to go for competitive development of innovation or to go for collaborative development of innovation??
  • 13. Innovation Strategies Change in Innovation Strategies It is very likely that a firm may like to change its innovation strategies at some point of time. A firm pursuing incremental innovation can shift to / transform to radical innovation by using some of following tools: • Strategic Framing • Scouting R&D • Idea Portfolio • High Impact Research • Target Selection • Rapid Product Development • Rapid Commercialization
  • 14. Innovation Strategies Change in Innovation Strategies …. Contd ….. Similarly a firm pusuing pursuing radical innovation can shift to / transform to incremental innovation by taking some of following steps: • Installing more gatekeepers at various stages • Spreading budgetory support over longer periods • Carrying out rigorous progress reviews • Using more controls etc.
  • 15. Innovative Organization • Innovation requires a structure that is capable of coalescing /motivating individual technological performers & non-technological performers into an effectively functioning team. • According to Mintzberg - An Innovative organization cannot rely on any form of standardized co-ordination. The enterprise must avoid : bureaucratic structures including structures that result into sharp division of labour, extensive unit differentiation, highly formalized behaviour. • An innovative organization is one which facilitates creative chaos within a flexible guiding structure • These are also called adhocracy organizations.
  • 16. Traits of Innovative Organization The enterprises should emphasize on : • Top mangement’s commitment and support • Capability / need to manage in the light of corporate restructuring & transient senior management • Planning & control systems with high degree of flexibility • Effective communication • Absolute integrity between various sub-systems / parts of an organization - Tight coupling of complimentary skill sets • Use of multifunctional teams - Higher order teaming
  • 17. Traits of Innovative Organization • Supporting organiztional culture & environment – like – Appropriate reward / incentive system – Respect for individual inititaive & personal growth – Tolerance for honest mistakes – Allowing room for failure • Enthusiasm for knowledge • Drive to stay ahead in knowledge • Willingness for Alteration to activities
  • 18. Innovative Organization Modes of Enterprise Innovation • Science Based Product Innovation Mode Enterprises - These enterprises spend big amounts on R&D and are Technological leaders & Pace setters. • The Enterpreneurial Fast Track Experimentation Innovation Mode Enterprises - are characterized by high degree of experimentation to develop a continuous flow of products & services. Viz. 3M • Global Cost Leadership Innovation Mode Enterprises - are process innovaters, with strength driven from development or acquisition of new processes. These are high quality & low cost driven.
  • 19. Innovation Organization Modes of Enterprise Innovation …. Contd ….. • Reliance on Information Technology & Process Adoption Mode Enterprises - are innovators who incorporate new ideas stemming from information technology or other engineering enterprises • Social Innovation Mode Enterprises –combine busniess methods and social value creation. They plug the gap between the roles that governmental and philonthropic efforts play, often solving societal problems, not in opposition to or even at the charity of the organizations, but rather in collaboration and mutual benefit to the private sector.
  • 20. Management of Innovation • Innovation management is the process of managing innovations in organisations. • According to National Research Council (NRC), Management of Innovation means linking of engineering, science & management disciplines to plan, develop and implement technological capabilities to shape & accomplish the strategic and operational objectives of an organization.  • Management of Innovation deals with meeting and managing eight primary needs of an organization.
  • 21. Management of Innovation These eight primary needs are as under : - • How to integrate technology into overall strategic objectives of an organization? • How to get into & out of technologies faster & more efficiently? • How to assess or evaluate technology more efficiently? • How to accomplish technology transfer? • How to reduce new product development time? • How to manage, large, complex & interdisciplinary or inter- organisational projects & systems? • How to manage organization’s internal use of technology? • How to leverage the effectiveness of the technical professionals?
  • 22. Factors which affect Innovation Management in Organization • Degree of formalization, formal structures, systems & procedures • Centralization • Resources available • Openness to external information • Degree of informal communication
  • 23. Challenges in Management of Innovation Challenges for small organization as under : - • Lack of risk taking abilities • Non availability of adequate resources viz finance, technical manpower etc • Low linkage with external environment • Difficulty in testing • Difficulty in conducting market survey • Difficulty in commercialization • Difficulty in marketing
  • 24. Challenges in Management of Innovation Challenges for big organization as under : - • Degree of formalization, formal structures, systems & procedures • Degree of centralization • Degree of formal communication • Corporate Restructuring & Transient senior management • Integration of many complex projects being executed simultaneously • Bigger teams & their management • Duplication of efforts • Ensuring right direction
  • 25. Management of Innovation For proper management of Innovation, following should be ensured: • Likely Failures should be identified and screened out as early in the process as possible. • Exceptional productivity is concentrated among a few people. There is need to employ, develop and retain exceptionally talented inventors. • Seeking maximum participation of all the concerened individuals. Individuals are the 'atom' of the organisation close to the minutiae of daily activities. • Strong integration & orchestration of cross functional activities • Top management’s commitment and support
  • 26. Management of Innovation Contd… • Capability / need to manage in the light of corporate restructuring & transient senior management • The enterprises should emphasis on – Planning & control systems with high degree of flexibility – Respect for individual initiative & personal growth – Tolerance for honest mistakes; allowing room for failure
  • 27. Management of Innovation Contd… • Innovation management education be aimed at upper level managers & middle level managers comprising both non-technical managers as well as technological managers, for creating a common ground across the organization • Building a unified and committed multifunctional team • Supporting organizational culture & environment
  • 28. Management of Innovation Contd… • The incharge / manager of technology must be well trained & sensitive to patterns of technology changes, market needs, vision to see business opportunities & have commitment for protection of firm’s technology . • Supportive management structures, rationales & actions. • Avoiding bureaucratic structures including structures that result into sharp division of labour, extensive unit differentiation, highly formalized behaviour • Effective communication in the organization
  • 29. Patents vs Copyrights Invention & Patent • Patent gives the inventor exclusive use of that invention & the right to assign that use. Invention need to be registered with specified government bodies who in turn grant patent.  Trade Secret   • A Trade Secret is any commercial formula, device, pattern, process or information that provides an enterprise an competitive edge over others who do not know it.
  • 30. Patents vs Copyrights Know How  • Knowhow is a factual accumulation of knowledge- usually as a result of trial & error. It cannot be protected or licensed until it is recorded in tangible medium.  Copy Right  • A Copy Right is an exclusive right granted to authors, composers, artists or their assignees for the life of the individual plus few more years. These rights are granted to individuals when some new work is done / created by them.
  • 31. Patents vs Copyrights Trade Mark  • A Trade Mark is a word, name, symbol, device, letter, numeral, picture or any combination of these in any form or arrangement that is used to identify the origin of goods or services. Like copy-rights, trade marks can also be registered. 
  • 32. Innovation Management By Dr. Vijay Kr Khurana