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Innovation management allows the organization to respond to external or internal opportunities, and use its creativity to introduce new ideas, processes or products. [2] It is not relegated to R&D; it involves workers or users at every level in contributing creatively to an organization's product or service development and marketing.
Exploratory and value-added innovation require different leadership styles and behaviors to succeed. [14] Value-added innovation (PwC, 2010) involves refining and revising an existing product or service and typically requires minimal risk taking (compared to exploratory innovation, which often involves taking a large risk); in this case, it is most appropriate for a leader for innovation to ...
Thomas Edison with phonograph in the late 1870s. Edison was one of the most prolific inventors in history, holding 1,093 U.S. patents in his name.. Innovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. [1]
An innovation manager is a senior person appointed to be responsible for implementing and managing the innovation management system. [citation needed] They are also responsible for ensuring that all aspects of new product development are taken into account and that the company is able to track and assess the progress of new products. [citation ...
It is the gateway through which informal communities of innovation may enter to become formal communities of innovation within the organization. The macro-process of divergence management begins with individuals within the community of innovation building trust, sharing and discussing ideas, agreeing to develop ideas together and to seek ...
Technological Innovation however focuses on the technological aspects of a product or service rather than covering the entire organization business model. It is important to clarify that Innovation is not only driven by technology , but can also be driven by various other factors, including market demand , social and environmental factors , and ...
The concept of a technological innovation system was introduced as part of a wider theoretical school, called the innovation system approach. The central idea behind this approach is that determinants of technological change are not (only) to be found in individual firms or in research institutes, but (also) in a broad societal structure in which firms, as well as knowledge institutes, are ...
This may include innovation in service delivery systems, though often this will be regarded instead as a service product innovation. Innovation of this sort may be technological, technological - or expertise -based, or a matter of work organization (e.g. restructuring of work between professionals and paraprofessionals).