...Singapore Management University Maters of Science Innovation | Core Module MGMT 661 By Associate Prof. Adel F. Dimian My Definition, Understanding and Response of the Lecture Topic & Discussions. Innovation Strategy Development Part 1&2 When the need of wanting to be different arises, the need to innovate takes a strong hold in one’s mind to bring about new changes that are often challenged in many different styles, manner, methods and modes. To my understanding different types of innovations requires and employs different innovative strategy or strategies. Which in turn determines the growth phase of the organization and its strategic approach and desired outcome of the innovation. Developing an Innovation Strategy Frame Work The Innovative ideas and strategy plans and developments can only take valuable shape and growth with the right leadership and driving force. Therefore with the discussions developed and generated, I have come to an understanding that successful innovation strategy is determined by the true leadership of an innovative leader with an innovative mindset who wants to achieve success for his organization, employees and himself. Instead of being comfortable and clustering around a few achieved strategies, a successful innovative leader begins by setting high targets and aspirations for the organization. Followed by recruiting qualified candidates and instilling tremendous positive energy, spirit and enthusiasm in the work environment. Although...
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...Innovation Planning: Corning Case-Study Reviewing Corning internal processes demonstrate the internal capabilities the firm continuously developed to enhance its innovation process, in terms of planning, implementation and ultimately delivering on innovative products. Innovation by definition is crucially important in these dynamic and rapid changing markets. However, continuous and sustainable innovation remains difficult to most organizations. In all practical terms, it is clear that a huge reliance in consistent innovation depends upon the creative capacity of individuals to come up with new ideas that is compelling and implementable. A second aspect is the ability of organizations to organize and institutionalize the innovation process, from a managerial and technical ways. Since 1908, the firm recognized the need for Research and Development as a way for not just survival of the firm, but as a mean to prosper and dominate its target markets. Starting the R&D as early as the nineteenth century in Silicon Valley enabled the firm to build upon its proven expertise in glass industry to today’s innovative products in fiber optics and flat screens. The firm had adopted internal policies that boost its innovative capabilities supported by commitment to invest 10% of the firm revenues in R&D, and hiring of world experts to its R&D division. Innovation is intrinsically risky. A firm could invest money and efforts, to generate, discover, and build up new ideas into innovations...
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...Senyo | | |University of Ghana | | |kpsenyo@gmail.com | | INTRODUCTION Technological advancement has caught up with us in the developing world and there is a need to rapidly change and focus on how best we can make optimum use of this opportunity. Payment for goods and services have been simplified and expedited by the introduction of new technological innovations. Statistics from the World Payment Report (2011) indicates there is a global increase in the volume of non-cash payments transactions by 5% in 2009 to 260 billion in 2011. The payment for goods and services in Ghana is mostly cash based and characterized by long queues and delays. A study by Abor (2004) pointed out that, before the introduction of electronic payment in Ghana customers will have to go to their banks to perform all transaction and with the long queues in most of our banks, payment became a problem. Heeks (2002) described information system in developing economies like Ghana as questionable and coupled with different challenges. However, Boateng (2011) implied that, the government of Ghana has made significant strives to...
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...1: their business strategy is reach out to its worldwide customer base, and they have to use distributed development strategy. The relationship of collaboration and innovation is ensuring that everyone, from the people that work for the company, to include the management, to the suppliers, is involved somehow in their ultimate goal which is provide quality goods for their consumer base. This will also enable them to stay competitive in the market. 2：P & G took a close look at what they needed. They were interested in something that would support their systems that were based primarily on Microsoft systems. They wanted collaboration systems that would be easily adapted to by their employees. They wanted a system that would bring “real-time collaboration services, including calendars, schedules, workflow, virtual meeting sites, instant messaging, and virtual conferencing”. Their main system that they adopted, Teamcenter, gave them just that. It was easy to adopt, it was cost effective, and it supported the Microsoft-based IT infrastructure that they operated off of. It also provided them with the form of visual collaboration that they desired, CAD-neutral format. The Teamcenter system gives the user a “customized view” of product information. It lets the user, such as the suppliers and employees, see their work in whatever format suits them, even the CAD-format content such as graphs. It also lets them share this information across the world, bridging geographical and time...
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...CAREERS TRENDING: Business Idea Generator // Starting a Business // Cloud Computing // Email Marketing // Starting a Website // Small Business Resource Center Reference: Innovation: Key to Successful Business by Chad Brooks, BusinessNewsDaily Senior Writer | September 23, 2013 08:20pm ET 21 33 1 Reddit 23 ideas, inventions, patents [Pin It] Credit: Light bulb idea image via Shutterstock View full size image One of the keys to any successful business is being able to come up with new ideas to keep operations, products and services fresh. The process of bringing those ideas to reality is called innovation. While thinking up new ideas is one step of the process, businesses have a much greater task in trying to turn that into an actual product or service that will benefit customers. In an article he wrote for BusinessNewsDaily, Fusion92 vice president of innovation Jacob Beckley said while innovation might have slightly different meanings depending on the industry, its core is universal. "It embodies the improvement of something that has come before," Beckley wrote. "It is the evolution of convenience, efficiencyand effectiveness." The companies that do this best, according to Beckley, are the ones that will ultimately have sustained success. "In the vast sea of innovation, companies that take the largest risk, close the biggest gaps and identify the newest opportunities are rewarded with the title of true innovators and leaders by their consumers...
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...website:http://www.grin.com/en/e-book/167838/apple-s-approach-towards-innovation-and-creativity title: apples approach toward innovation and creativity author: Christoph Müller Rexter Sengah year: 2010 pages :14 ISBN (eBook) 978-3-640-84770-9 ISBN (Book) 978-3-640-84391-6 Excerpt Jobs who was ousted in 1985 was able to turn around the ailing company when he came back in 1997. Today, Apple is not only considered the most innovative company in the world, but also the most admired (BusinessWeek, 2009), (Fortune, 2009). But what is Steve Job’s secret formula of success? What has made Apple so successful? According to Research & Markets, as cited by Gene Quinn (2010),“Apple has managed to sustain its innovation efforts with calculated, consistent increases in R&D spending and rapid-fire launches of new products and upgrades. What lies behind Apple’s success is not luck - the company has very deliberately focused its efforts on generating better ideas faster.” It is quite clear that innovation and creativity are the major drivers of Apple’s prosperity. But being innovative and creative is easier said than done. There are many aspects which need to be taken into account. What is key here is that the times where employees were seen as cogs in a machine have gone. Many studies have shown that there is a significant correlation between the management of people and organisational success. Per se, all people are endowed with the ability...
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...Samsung 3D-Television A strategic plan for a technological innovation FROM: Peter Fischer Erik Froode Alexander Johansson TO: Anu Wadhwa Lausanne, 2010-10-16 Table of content Samsung 3D-Television............................................................................................................................ 1 1. Background of the innovation ........................................................................................................ 3 1.3 1.3 1.4 The background of Samsung ................................................................................................... 3 The background of 3D-Television technology ......................................................................... 5 The competition ...................................................................................................................... 5 3D-TV technology ............................................................................................................ 6 The visible entertainment ............................................................................................... 6 1.4.1 1.4.2 1.5 What kind of innovation is 3D-TV? .......................................................................................... 7 2 ................................................................................................................................. Industry description .........................................................................
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...Alternative Strategies For many years IBM has been a leader within the technology industry by innovating and continuing to advance within the market. As a major leader in the technology industry it is important to understand the current strategies used along with future strategies that may assist IMB in future growth and success. According to Watkins (2007), “A business strategy is a set of guiding principles that, when communicated and adopted in the organization, generates a desired pattern of decision making” (Para 1). Having a clear understanding of what a business strategy is and how it can affect the success of a business is the first step in determining the different strategies and the advantages of each. At the start of IBM, a product differentiation strategy was implemented in order to gain entrance into the market. At the time IBM was starting a new idea of cloud computing began to emerge. Cloud computing is a model for enabling convenient, on-demand network access to a shared pool of configurable computing resources (Grigoriou, Retana, and Rothaermel, 2013). The advantage to using a product differentiation strategy is to gain entrance into the market by producing a new and innovative product that consumers not only want but need. After years of developing the product it would be in the best interest of IMB to utilize the business strategy of competitive advantage. IBM can accomplish this business strategy by offering the innovative cloud computing within the market...
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...Technology has been a boon to mankind and it is a blessing in disguise. It has made the life of humans simple and easy to live. The effects of technology have largely been positive on human life. We have reached this modern era because of technology. The various technologies around us have made this world modern. In this modern life technological innovations have become integral to our lives Technological innovations are the most important aspect of human life and it is impossible to even think of our life without them. Technology is the greatest creation of humans and it has also enabled humans to create whatever they desire. I think that technology is indispensable in our modern life and it is a great positive force in our lives. The creativity in the field of technology has always resulted in remarkable innovations. We would not have reached such heights of development without the help of technology. Technology has influenced people in a positive sense. It has instigated people to create better and better innovations. We can never think of our lives without the basic amenities which technology has provided us with. Without such technology we would still be in the pre-historic age. We should be thankful to technology for our metamorphosis from a cave man to the modern man of present age. This modernism is the result of technology and it has made our life better and better with time. It is best tool that the humans have ever invented for self help. The technological inventions...
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...Suraj Garg 13020841116 SECTION B BATCH OF 2013-2015 TABLE OF CONTENTS 1. Introduction to the product and company mechanism (stage gate) 2. Identification of opportunity 3.1.1. Theory 3.1.2. Opportunity recognition 3.1.3. Opportunity Development 3.1.4. Opportunity Evaluation 3. Categorizing the new product 4.1.5. Disruptive innovation and Blue ocean 4. Idea Generation 5.1.6. Technique 5.1.7. Exercise 5.1.8. Methods 5. Idea screening 6. Concept Development 7. Concept Testing 8. Market Development Strategy 9. Business Analysis 10.1.9. Projected cash flows 10. Product Development 11. Market testing 12. Commercialization 13. Justification 14.1.10. Technical Justification 14.1.11.1. Feasibility 14. Marketing Strategy 15.1.11. Sprinter Model 15.1.12.2. Marathon Model 15.1.12.3. 4 Ps 15. Conclusion 16. Appendix 17.1.12. NPD and PLC 17.1.13. Roger’s Innovation Diffusion Model INTRODUCTION: The group came out with innovative ideas for a new product in the market. The new product would be launched by AUL Inc., a company that deals in cloth manufacturing and chemical plants. The product that the group thought of is self-washing clothes. How this works is, that the cloth is treated with a solution of nano particles during the manufacture stage itself. This would...
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...Schilling Ch # 1 – Ind Dynamics of Tech Inno(pg 1) Definitions: 1) Technological Innovation: The act of introducing a new device, method, or material for application to commercial or practical objectives 2) Gross Domestic Product: The total annual output of an economy as measured by its final purchase price. Key Points: 1) Importance of Technological Innovation: Technological innovation is now the most important driver of success in many fields and industries. Its importance in some ways is due to the globalization of economies and also due to advances in computer designs and software technologies. Computers have made it possible to design new products easier and faster as well as produce new products efficiently and effectively. Flexible manufacturing techniques enable firms to have multiple product variations. Due to shortened development cycles and faster new product introductions, product life cycles have become relatively short. 2) Impact of Technological Innovation on Society: Technological innovation has had a positive impact on society. It enables delivery of a wider range of goods and services, improved production of food, improved healthcare and made travel and communications a lot easier. In order to view the overall impact of technological innovation on society, the GDP per capita for the world can be used. As shown in Fig 1.2 on page 5, the GDP has risen steadily over years. But according to studies, growth in labor and capital inputs could not account...
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...first outline the environment that made the transformation necessary. There were several global trends that influenced the need for Nayar to create a more innovative organization. According to Nayar, when he was appointed to be CEO, the company's revenues were growing by about 30% a year and were some 765 million, which on the surface would be great however, it was losing market share and their competitors were growing at 10% or 20% faster rate each year, not to mention, the IT services industry was changing rapidly. “Customers didn't want to work with an undifferentiated service provider that offered discrete services; they wanted long-term partners that would provide end-to-end services”.(Nayar, 2010) Disruptive innovation: Nayar understood, in order to make the change he would have to convince not only the board, executives and managers but, the frontline employees as well. How would he accomplish this? Nayar described it in two parts point A (acknowledgement) and point B (Identifying). Point A, He began asking questions of the senior managers about company position in the market and what the company's current position was. He stated some believed the company was not in trouble, they believed history told the story, some believe that...
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...The Role of Product Lifecycle Management Systems in Organizational Innovation Hamzeh K. Bani Milhim, Xiaoguang Deng, Andrea Schiffauerova, and Yong Zeng* Concordia Institute for Information Systems Engineering, Faculty of Engineering and Computer Science, Concordia University, 1455 Maisonneuve West, Montreal, Quebec, Canada, H3G 1M8 yong.zeng@concordia.ca Abstract. Innovation is a critical ingredient of today’s organizations. Innovativeness helps organizations to maintain their success and position in the market. Numerous research studies examine the factors that impact successful organizational innovation, for example organizational learning capability, organizational structure, etc. Product Lifecycle Management (PLM) systems have been widely implemented to support organizational innovation as well. In this paper, we will discuss the role of PLM systems in fostering the organizational innovation success. Moreover, future trends based on the current PLM systems that would provide further support to the organizational innovativeness will be explained. Keywords: organizational innovation, PLM systems, fostering innovation. 1 Introduction Innovation is considered as the major engine of organizational success. Organizations need to adopt and develop new products and services, and to improve their processes in order to maintain their goals such as profit, growth and continuous development. In addition, they are constantly required to increase their effectiveness...
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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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...as they drank beer in the morning, Wine for lunch and beer and wine to end their day. But with the transition to coffee and tea that is from a depressant to a stimulant, great ideas sprung up leading to the age of Enlightenment and thus and era of great awareness and creativity in and around Europe and the world. Coffee houses were like an architecture of space were ideas could have sex according to (Steven Johnson) from the video leading to space for creative thinking. There has however been drastic change ever since those years on till today Summary of Key Findings With the evolution of Coffee houses and subsequent involvement of people who would later develop great ideas to accompany their findings, ideas would later became innovations. To follow up with their findings scientist would later be sent around to science labs during weekly lab meetings, conference tables and coffee shops to really find out how ideas are develop to gain a sense of were great ideas really come. And came to realize that when people come together in those places they develop ideas which may not even materialize in the short term but in the long run as the case maybe. They realized that signature behavior or patterns are found in few. That an idea is a single thing that would later become a network emanating from Neurons inside the brains which have never been formed before and would form...
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