By B. Gailly
Combining insights from best educational learn and skilled managers, this publication offers a scientific framework to appreciate what innovation is, why it issues, the way it may be controlled and the way it will probably aid your company to arrive its pursuits.
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Extra info for Developing Innovative Organizations: A Roadmap to Boost Your Innovation Potential
A definition-based typology of innovations As we highlighted in the previous section, an innovation has two important facets: newness and change. Innovations will therefore differ in terms of (i) what is new (the object); and (ii) how big is the change (the intensity). The first way we can categorize innovation is therefore by differentiating what is new: the offer or the way it is offered. The second way to differentiate innovations is by assessing the importance of the change involved, from small (incremental) to large (revolutionary).
Further reading Afuah, A. (2003), “Static Models of Innovation” in Innovation Management: Strategies, Implementation, and Profits, 2nd edn, Oxford University Press, pp. 14–32. Amit, R. and Schoemaker, J. H. (1993), “Strategic Assets and Organizational Rent”, Strategic Management Journal, Vol. 14, pp. 33–46. Anderson, P. and Tushman, M. (1990), “Technological Discontinuities and Dominant Design”, Administrative Science Quarterly, Vol. 35, pp. 604–634. BCG (Boston Consulting Group) (2009), Innovation 2009: Making Hard Decisions in the Downturn (Boston, MA, BCG).
Whether individual people act like entrepreneurs and form innovative teams, and whether the organization can attract, develop, motivate and retain those people depends on organizational and environmental factors that need to be understood and managed. Those corporate resources must fuel the innovation engine. The third challenge is to guide the entrepreneurial process. Innovation should not be an objective per se. Not all available entrepreneurial opportunities should be pursued. Innovation should be a means to achieve the strategic objectives, mission and vision that the firm has defined.