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Managing Innovation for Competitive Edge

The document discusses technology and innovation management. It covers topics such as the definition of innovation, the innovation process, sources of innovation, and reasons why companies should and should not innovate. Specifically, it notes that innovation provides competitive advantage but that some companies are not innovating due to a lack of awareness, high costs, a fear of failure, being in a monopoly position, the long-term nature of innovation, a wait-and-see strategic approach, and a lack of incentives.

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Yashwanth S D
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17 views19 pages

Managing Innovation for Competitive Edge

The document discusses technology and innovation management. It covers topics such as the definition of innovation, the innovation process, sources of innovation, and reasons why companies should and should not innovate. Specifically, it notes that innovation provides competitive advantage but that some companies are not innovating due to a lack of awareness, high costs, a fear of failure, being in a monopoly position, the long-term nature of innovation, a wait-and-see strategic approach, and a lack of incentives.

Uploaded by

Yashwanth S D
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

Technology and Innovation

Management
Contents

1. Introduction to Innovations

2. Innovation management tasks

3. Innovation and organizations

4. Innovation and strategies

5. Innovation, people and creativity

6. Technology forecasting methods


Why this topic

• Engineers source of researchers and inventions

• Engineers and management

• Lack of innovation
Innovation

• Innovation= Invention + Exploitation

(Must be implemented and be useful)

• Something new or improved

• Perceived to be new

• New market

• Away from routines


Innovation dimensions
Innovation core questions

• What is new?

• New for whom?

• Where does the innovation start or end?

• Is novelty equal to success


Innovation process
Source of Innovation
Why should a company be
innovative
• Competitive advantage

• Consumer behaviour is changing

• Products short life cycle

• Technology changes and new products

• New customers/markets
Why companies are not innovating
• No awareness of Innovation
• High costs of innovation
• Employee’s fear of Innovation and failure
• Monopoly position
• Innovation needs long term process
• Strategic decision to wait and observe
• No incentives for innovation

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