Understanding innovation’s relevance
Innovation is crucial for survival and growth, driven by megatrends. Companies must prioritize continuous innovation to stay competitive and adapt to change. GPT
Innovation is essential for the survival of organizations and the economy.
Keeping up with Megatrends such as sustainability, urbanization, mobility, demographic change and digitalization which likely will affect everyone. They create a lot of opportunities for innovation and new business areas.
Continuous innovation for companies is required nowadays because of greater competition and shorter life cycle. It is a top 3 priority for top companies.
Companies should not be innovative once, but innovative constantly.
Innovation ist überlebens- und wachstumsentscheidend, getrieben von Megatrends. Unternehmen müssen kontinuierliche Innovation priorisieren, um wettbewerbsfähig zu bleiben und sich an Veränderungen anzupassen.
Definition of innovation
Innovation involves creating and introducing novel solutions, while invention is the initial technical creation. Inventions become innovations when successfully commercialized as products, services, or processes.GPT
Innovation is the process of different activities that have been developed by different actors, carried out in one or more organizations, to develop novel combinations of means and ends and introduce them to the market or the organization.
Innovation is not Invention →
an Invention is a first technical implementation or a new combination of existing scientific inventions which could be the result of research, development or chance.
E.g. Solution to a technical problem
Innovation is a (successful) commercial introduction of a new product, service or process
E.g. If you bring it to the market, an invention can be an innovation
Innovation beinhaltet die Schaffung und Einführung neuartiger Lösungen, während Inevtion die anfängliche technische Schöpfung ist. Erfindungen werden zu Innovationen, wenn sie erfolgreich als Produkte, Dienstleistungen oder Verfahren kommerzialisiert werden.
Uncovering relevant dimensions of newness
4-Dimensional concept:
Technology → how new the technology is
Market → new to market , customer value & customer risk
Organization → How much change is required for the company who does the innovation? How new is an innovation to the company? How good does this innovation fit? → internal resource fit
Environment → how much needs the environment to change, to make this innovation work? → external resource fit
→ These are subjective to the company ! If all dimension have a high novelty → innovation == radical
4-dimensionales Konzept:
Technologie → wie neu die Technologie ist
Markt → Marktneuheit, Kundenwert & Kundenrisiko
Organisation → Wie viel Veränderung ist für das Unternehmen erforderlich, das die Innovation durchführt? Wie neu ist eine Innovation für das Unternehmen? Wie gut passt diese Innovation? → interne Ressource fit
Umwelt → Wie stark muss sich die Umwelt verändern, damit diese Innovation funktioniert? → externe Ressource fit
→ Diese sind unternehmenssubjektiv ! Wenn alle Dimensionen einen hohen Neuigkeitswert haben → Innovation == radikal
Why is the degree of innovativeness so important?
Innovation management differs from routine management, requiring awareness, assessment, and tailored tools. Companies must balance incremental and radical innovation to stay competitive both now and in the future.GPT
Innovation management is fundamentally different from routine management→There needs to be awareness and assessment of the innovation →Different tool need for different degrees of innovation
Most companies are good at incremental innovation but do not know how to radically innovate. But it is important to stay competitive in the future. Only doing radical innovation does not help the company stay competitive now, because it takes a long time and is very risky. So a good balance of incremental and radical innovation is needed.
Innovationsmanagement unterscheidet sich vom Routinemanagement und erfordert Bewusstsein, Bewertung und maßgeschneiderte Tools. Unternehmen müssen inkrementelle und radikale Innovationen in Einklang bringen, um jetzt und in Zukunft wettbewerbsfähig zu bleiben
Last changed2 years ago
