...International Technology Management Course Book: Paul Trott, Innovation Management and New Product Development, 5.th Ed Learning objectives and Some Discussion Questions for Mid Term Exam • Recognise the importance of innovation • Explain the meaning and nature of innovation management • Provide an introduction to a management approach to innovation • Appreciate the complex nature of the management of innovation within organisations • Describe the changing views of innovation over time • Recognise the role of key individuals within the process • Recognise the need to view innovation as a management process. Discussion questions A number of chapters have several Pause for thought questions to help the student reflect on what they have just read to check their understanding. Examples: Not all firms develop innovative new products, but they still seem to survive. Do they thrive? This question attempts to get the students to recognise that while innovation is important it is possible to survive especially in the short term by focusing on traditional concerns such as minimising costs and generating sales. In the longer term, however, few firms will survive for long without the need to change; and that means introducing new ways of working and new products and services. If two different firms, similar in size, operating in the same industry spend the same on R&D, will their level of innovation be the same? This...
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...The Future of Management by Gary Hamel Introduction Management innovation is a must in today’s dynamic business world. Companies must do something proactive to set themselves apart. Gary Hamel, an American management expert argues that organizations need bold management innovation now more than ever. For organizations like GE, Procter & Gamble, and Visa, management innovation is the secret to success. But what is management innovation, and how does it happen? The goal of “The Future of Management” is to first help the reader imagine, and then invent, the future of management. To aid managers, leaders, and readers on this mission, Hamel offers case studies including Google, W.L. Gore (makers of Gore-Tex), and Whole Foods to show how some companies have succeeded with a complete shift in the overall management approach. The main theme drawn from Hamel’s book, “The Future of Management,” comes from the idea of thinkers can be innovators. Key Points There are examples where innovations with management really enable a company to move forward and gain competitive advantage. These advantages include measureable examples from past centuries where classic processes such as strategic planning, capital budgets, project management, and reviews have been pushed aside for new areas such as: managing science, allocating capital, managing intangible assets, and capturing the wisdom of every employee. These are not without challenges though, preparing an organization to be ready to adapt...
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...Innovative Management * Innovation = The generation, development and commercialization of products, new services or new business models by a firm. * Business model = The way a company creates, delivers and captures value. Innovation – Mostly fails (40%) * Radical innovation * Non-radical innovation No innovation = die (Kodak) Innovation: * Teamwork (Multiple perspectives) * No communication No product * Concept development Prod./Serv. Development Commercialization (process) * Innovation process in the book on page 347 Design-driven innovation * Propose the customer, without recognizing a problem. * Social process Innovation funnel (product screening) * Think 5 years ahead Product life cycle Disruptive innovation – Business model * New product with a different set of performance attributes * Underperforming on the attributes that mainstreams customers value * High improvement potential on these attributes Newspaper Website Model Christensen – The Innovator’s dilemma Problem for traditional brands. Customers think the service of the budget service is good enough. Problem for traditional brands. Customers think the service of the budget service is good enough. Solution: Brands like Air France-KLM makes a budget brand (EasyJet). Sustaining innovation * Bigger airplanes * Add service to a product (3) – Sept. 9th 2015 – Bas Koene Organizations and HRM – Chapter 8 How people create...
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...EM 900 /Engineering Management March 22, 2014 QUESTIONS: 1. What is innovation management? Innovation management is the regulation of managing processes in innovation. According to Richard Feynman innovation is all about discovery. Innovation management is the process of capturing and managing organizational innovation. Today many companies have organization-wide innovation management programs. This is due to increased recognition that innovation is essential for motivating business growth and maintaining competitive advantage. Competency: Every institute/organization has its own history and set of capabilities, which determine its innovation competency. And innovation has build a powerful framework based on competence and obligation that will help organization to become a world-class innovator Strategy: As manager knows, resource allocation is critical to strategy and therefore needs to be an integral part of aligning innovation to strategic objectives. Management: Any top company in this world should arrange resources cleverly and needs to manage innovation efficiently; this should be the primary objective of a organization. 2. Why is entrepreneurship training considered important for engineers? In the article it states clearly why it is so significant for engineers to understand entrepreneurship training. Engineers need to be entrepreneurial in order to understand and contribute in the framework of market and business pressures. For engineers...
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...Importance of Technological Innovation SYNOPSIS OF CHAPTER The purpose of this chapter is to set the stage for the course by establishing the importance of managing technological innovation strategically. First the chapter overviews the importance of technological innovation for a firm’s competitive success and the advancement of society in general. The chapter points out that 1) many firms are relying on products developed in the previous three to five years for large portions of their sales and profits; 2) globalization has increased competition putting more pressure on firms to compete through innovation; 3) advances in information technology have enabled both process improvements and the efficient generation of product variants which facilitates the execution of a differentiation strategy at a reasonable cost; and that 3) the residual growth in the GDP can be attributed to technological change. Both the positive and negative effects of technological innovation are described. Advances in food production are an example of the first and pollution is an example of the latter. Next the innovation funnel is introduced to show students that on average 3,000 raw ideas must enter the funnel in order to arrive at 1 successful new product launch. Gestione dell'innovazione 2/ed Melissa A. Schilling Copyright © 2009 - The McGraw-Hill Companies srl Second, the chapter discusses the risks and cost of innovation. On average, many more innovation projects fail than succeed....
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...International Management Dr. Paweł Krzyworzeka 2015/2016 Grades There are two components: Group presentations (10 points) • We are going to discuss six cases (sessions no. 2, 3, 5, 6, 7, 9) • All groups have to read carefully all six cases and be prepared to give an oral presentation (ad-hoc, at least two times during our course) based on assigned questions (see the table below). • Group can earn up to 5 points for a presentation • Groups are fixed and preassigned (see the list) • Do not prepare any PowerPoint presentation, however, you may want to write up your answers in a form of short paper (1-2 pages) Take-home exam (10 points) Session Date Topics Readings 1 17.03.2016 Thursday Introduction • Globalisation • Competitive advantage of nations Additional readings: Davies, H. & Ellis, P., 2000. Porter’s competitive advantage of nations: time for the final judgement? Journal of management studies, 37(8), pp.1189–1214. Dunning, J.H., 1993. Internationalizing Porter’s diamond. MIR: Management International Review, pp.7–15. Porter, M., 1990. The competitive advantage of nations. Harvard Business Review, 68(2), pp.73–93. 2 31.03.2016 Thursday Global value chain • Outsourcing vs offshoring • Global value chain • offshoring • outsourcing • Resource-based view • Transaction costs • Intellectual property infringement Case: Ecco – Global value chain management 1. Describe the competitive environment of ECCO and determine how well ECCO is...
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...Hamel shows you how to win in a world of relentless change, ferocious competition, and unstoppable innovation. Learn more and read an exclusive excerpt at the MIX The Wall Street Journal recently ranked Gary Hamel as the world’s most influential business thinker, and Fortune magazine has called him “the world’s leading expert on business strategy.” Hamel’s landmark books, which have been translated into more than 20 languages, include Competing for the Future, Leading the Revolution and The Future of Management (selected by Amazon.com as the best business book of the year). His latest book, What Matters Now, was published in 2012. Over the past twenty years, Hamel has authored 17 articles for the Harvard Business Review and is the most reprinted author in the Review’s history. He has also written for the Wall Street Journal, Fortune, The Financial Times and many other leading publications around the world. He writes an occasional blog for the Wall Street Journal. Since 1983, Hamel has been on the faculty of the London Business School, where he is currently Visiting Professor of Strategic and International Management. As a consultant and management educator, Hamel has worked for companies as diverse as General Electric, Time Warner, Nestle, Shell, Best Buy, Procter & Gamble, 3M, IBM, and Microsoft. His pioneering concepts such as “strategic intent,” “core competence,” “industry revolution,” and “management innovation” have changed the practice of management in companies around...
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...International Bulletin of Business Administration ISSN: 1451-243X Issue 11 (2011) © EuroJournals, Inc. 2011 http://www.eurojournals.com Role of Knowledge Management to Bring Innovation: An Integrated Approach Kashif Akram Lecturer, Department of Commerce The Islamia University of Bahawalpur (Pakistan) E-mail: kashifdms@yahoo.com Tel: +92 63 9240298 or +92 334 7266860 Suleman Hafeez Siddiqui Lecturer, Department of Management Sciences The Islamia University of Bahawalpur (Pakistan) E-mail: sulman.siddiqui@yahoo.com Tel: +92 63 9240298 or +92 322 5172513 Muhammad Atif Nawaz Lecturer, Department of Economics The Islamia University of Bahawalpur (Pakistan) E-mail: atifnawaz_iub@yahoo.com Tel: +92 63 9240298 or +92 314 6864997 or +92 333 3030313 Tauqir Ahmad Ghauri Lecturer, Department of Management Science The Islamia University of Bahawalpur (Pakistan) Ph. +92 63 9240298 Cell +92 333 6183035 E-mail: tauqir.lec@gmail.com Amjad Khawar Hayat Cheema Lecturer, Department of Economics The Islamia University of Bahawalpur (Pakistan) E-mail: khawar790@hotmail.com Tel: +92 63 9240298 or +92 321 4076799 Abstract Purpose: The basic objective of the study is to reconcile the literature on knowledge management and innovation in organizations. The study seeks to examine and elaborate the linkage between knowledge management process and innovation process to dig out the important relationships and flows of activities. Design/Methodology/Approach: The study is induced using qualitative methodology...
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...Introduction to Innovation Management Prof. Paul Collins UWB Learning Objectives • Understand the Language of Innovation • Distinguish between innovation as artifact and process • Be able to explain the three innovation imperatives • Be versed in how innovation affects firm growth and performance • Articulate why managing innovation matters Prof. Collins UWB 2 I. The Competitive Challenge Techno-economic Revolution •We are in the middle of an estimated 50 year technoeconomic revolution that creates new growth opportunities and disrupts the basis of competition in many established industries (Hiemtra,2000) •Global markets mean increased competitiveness in terms of cost, quality, and innovation •Affects consumer demand by providing more options that offer multiple performance advantages simultaneously. Prof. Collins UWB UWB 3 Moore’s Law – Powering the Techno-economic Revolution •According to Moore’s Law, the number of transistors on a chip roughly doubles every two years (at less cost per unit of performance). •As transistor counts climb so does the ability to increase device complexity and integrate many capabilities onto a chip. • How does this affect your industry? Company? Prof. Collins UWB 4 Evidence (Forbes Study) Drivers of Value Creation Drivers of Value Creation What Forbes' Research Established (rank order) 1. INNOVATION 2. ABILITY TO ATTRACT TALENTED EMPLOYEES 3. ALLIANCES What Forbes' Readers Said (rank...
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...ADEMOLA OLUTOSIN ONASHILE Innovation of Employee’s Leave Process Using the SAP System (A Case Study of Oceanic Bank Int’l Plc., Nigeria) Term paper Fall 2014 Business School, Seinäjoki Masters of Business Administration Advanced Marketing Management SEINÄJOKI UNIVERSITY OF APPLIED SCIENCES * Term Paper abstract Faculty: Seinäjoki Business School Degree programme: Master of Business Administration Specialisation: Advanced Marketing Management Author: Ademola Olutosin Onashile Title of Thesis: Innovation of Employee’s Leave Process Using the SAP System Supervisor: Mäkeläinen, Ville-Pekka Year: 2014 Number of pages: 25 Number of appendices: 0 _________________________________________________________________ This paper is written furtherance to series of class and group works done under the course: Advanced Marketing Management which is an MBA course and the view point is innovation of a certain process or service or product of an organization and show casing its marketing management perspective. Therefore, the author is dwelling on the innovation of the leave process of a particular Nigerian bank namely Oceanic Bank Int’l plc. Hence, the paper tends to sequentially take the case from introduction, focusing on the Everett M.Rogers’ diffusion of innovation as its theoretical framework. It gives numerous definitions of Human Resource Management (HRM) and the needs for HR in organzations. It also explains in a nutshell the...
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...Name: Instructor: Course: Date: Management, Innovation and Organizational Performance Introduction Innovation is central to the understanding of how organizations sustain themselves over a certain period of time. This is because innovation enables organizations to create or generate new and multiple products and services. The process of innovation among organizations is to develop the basis of assessing creativity among organizations. More so, it enables managers to identify measures aimed at improving or changing organizational operations and functions. Through management innovation, new measures to plan, organize, coordinate, lead, and motivate the organization are identified. This can lead to achievement and sustenance of a competitive advantage in the industry. This is because principles of innovation involve creating long-lasting advantageous processes producing dramatic shifts in the competitive position. Global organizations therefore rely on innovation to systematically reinvent functions and operations being undertaken to enhance speed, effectiveness, and efficiency leading to a long business life (Alice 3). Organizations are referred to as open systems due to various reasons. Foremost, organizations are developed in order to produce new products and services regularly and successfully without facing barriers. As a result, they are referred to as open systems as they can determine market needs and technological capabilities to apply to ensure the products...
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...Innovation is discovering new ways of creating value and successfully introducing and commercializing new products, processes and new ways of adding customer value through innovative business models and management systems. Invention is the first occurrence of an idea for a new product or process, while innovation is the first attempt to carry it out into practice. Innovation can be incremental or radical. Radical innovations are major changes in the products and processes and management systems. Incremental modifications involve minor changes to products and processes. Under management innovation, established management practices undergo changes including human resource development, marketing, managerial processes, skill and attitudes of managers. Today, knowledge in all forms plays an important role in progress of economy. Organizations with great knowledge systematically outperform those with less. In the knowledge based economy , innovation plays a vital role. It was believed that an enterprise can maintain competitive advantage through quality and price, but the research at the Ernst Young Centre for Business Innovation (CBI) has revealed that innovation is one of the most valuable differentiator for sustainable competitive advantage. Firms innovate to defend their competitive position as well as to seek competitive advantage. Innovation broadly involves following types: 1. Technological Innovation: Traditionally, Innovation is associated with...
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...Abstract Innovation is everywhere. Innovation is discussed in scientific and technical literature, in social sciences such as sociology, management and economics, and in the humanities and arts. Innovation is also a central idea in the popular imaginary, in the media and in public policy. How has innovation acquired such a central place in our society? This paper looks at innovation as category, and suggests an outline for a genealogical history. Case Study of “The quest for innovation” Cultures of Technology Culture matters—this has been one of the most often-heard messages. It matters in its attempts to explain why economic opportunities have been seized in one country or region, and why economic failures have occurred in another. It matters not only for economic development, but also for political development. It promotes change—or impedes it. It matters when corporations with different organizational cultures merge or fail to do so. With organizations increasingly moving in global environment, they are well-advised to broaden their cultural range and to question the assumption that their concepts are universally valid. In the field of organizational learning, for instance, a shift has occurred toward a concept of organizational culture as the unit in which learning occurs. The culture of an organization is said to be pivotal to understanding how a particular organization adapts to ongoing changes. It shapes perceptions of past and current events. The emphasis is on shared...
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...2nd Edition Plan or review administrative systems BSBADM504B Student Workbook BSBADM504B Plan or review administrative systems 2nd Edition 2010 Student Workbook BSB07 Business Services Training Package Part of a suite of support materials for the Acknowledgment Innovation and Business Industry Skills Council (IBSA) would like to acknowledge HASCOM Pty Ltd for their assistance with the development of this resource. Writer: Kensington Budgewater Copyright and Trade Mark Statement © 2010 Innovation and Business Industry Skills Council Ltd All rights reserved. Apart from any use permitted under the Copyright Act 1968, no part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, or otherwise, without written permission from the publisher, Innovation and Business Industry Skills Council Ltd (‘IBSA’). Use of this work for purposes other than those indicated above, requires the prior written permission of IBSA. Requests should be addressed to Products and Services Manager, IBSA, Level 11, 176 Wellington Parade, East Melbourne VIC 3002 or email sales@ibsa.org.au. ‘Innovation and Business Skills Australia’, ‘IBSA’ and the IBSA logo are trade marks of IBSA. Disclaimer Care has been taken in the preparation of the material in this document, but, to the extent permitted by law, IBSA and the original developer do not warrant that any licensing or registration requirements specified...
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...Innovation In Management Jonathan Streat University Maryland University College Although innovation is meant to solve issues in the public, the problem is how to develop and implement bold, new ideas and get the public agencies to buy into the innovation when they are steadfast in their own belief system. I feel that this is the greatest challenge for management, as we open the second decade of the twenty-first century. Innovation in the public sector is considered to be a constructive change process, which is a result of solving deficiencies or problems. As a result of the events of 9/11, the federal Department of Homeland Security was created. Technology is widely used as a way to increase communication between citizens and governments to better facilitate public services. Also, innovations in policies solve problems. Controversial policies such as Obamacare, shrinking cities strategies, and vacant housing programs are all popular topics in cities across the country. Here is where we see innovations and the various types of management approaches. “Let us be clear about our context”. The public sector refers to the coordination, production, and delivery of goods and services by publically owned and accountable organizations (Potts 2010). This defines economic output including education, health, social welfare, and the private sector. Increased access to specialized knowledge, information, and expertise, resulting from the network form of governance, represent both...
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