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Summary Managing Innovation
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Full summary of the book Managing Innovation (Integrating Technological, Market and Organizational Change) of Joe Tijd and John Bessant (5th Edition)
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Missing a few important yet reasonably relevant concepts
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zondag 18 september 2016Managing Innovation
Integrating Technological, Market and Organizational Change
1 = Innovation - What it is and Why it Matters
Why Innovation Matters
- Whilst competitive advantage can come from size, or possession of assets, and so
on, the pattern is increasingly coming to tabour those organizations which can
mobilize knowledge and technological skills and experience to create novelty in their
offerings (product/service) and the ways in which they create and deliver those
offerings.
- Innovation matters not only at the level the individual enterprise, but increasingly as
well for national economic growth.
- Hidden innovation = innovation activities that are not reflected in traditional
indicators such as investments in formal R&D or patents awarded.
1. Innovation that is identical/similar to activities that are measured by traditional
indicators, but which is excluded from measurement (new technologies in oil
exploration)
2. Innovation without scientific basis (innovation in business models / organizational
forms)
3. Novel combination of existing technologies (internet banking)
4. Locally-developed, small-scale innovations
Innovation and Entrepreneurship
- Entrepreneurship = a human characteristic which mixes structure with passion,
planning with vision, tools with the wisdom to use them, strategy with the energy to
execute it and judgement with the propensity to take risks.
- Internal entrepreneurs, intrapreneurs, working in corporate entrepreneurship or
corporate venture departments
- Social entrepreneurship = improving conditions or enabling change in the wider
social sphere or in the direction of environmental sustainability.
- In a world of shortening product life cycles being able to replace products frequently
with better versions is increasingly important. Competing in time reflects a growing
pressure on firms not just to introduce new products but to do so faster than
competitors.
- Whilst new products are often seen as the cutting edge of innovation in the
marketplace, process innovation plays just as important a strategic role. Being able to
make something no one else can, or to do so in ways which are better than anyone
else is a powerful source of advantage.
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, zondag 18 september 2016
- Advantage can get competed away as others imitate. Unless an organization is able
to move into further innovation, it risks being left behind as others take the lead in
changing their offerings, their operational processes or the underlying models which
drive their business.
- With the rise of the Internet the scope for service innovation has grown enormously -
not for nothing it is sometimes called ‘a solution looking for problems’
- The traditional picture of services being either offered as a standard to a large market
(high reach in their terms) or else highly specialized and customized to a particular
individual able to pay a high price (high richness) is ‘blown to bits’ by the opportunities
of web-based technology. Now it becomes possible to offer both richness and reach at
the same time - and thus to create totally new markets and disrupt radically those
which exist in any information-related businesses.
- The point is that whatever the dominant technological, social or market conditions, the
key to creating - and sustaining competitive advantage is likely to lie with those
organizations which continually innovate.
- Innovation involves a moving target - not only is there competition amongst players in
the game but the overall context in which the game is played out keeps shifting.
- Examples of changing context:
Acceleration of knowledge production
Global distribution of knowledge production
Market expansion
Market fragmentation
Market virtualization
Rise of active users
Growing concern with sustainability issues
Development of technological and social infrastructure
Tabel 1.1 Strategic advantages through innovation
- The best is that both technology push and demand pull are mobilized
What is Innovation?
- innovation is more than simply coming up with good ideas; it is the process of growing
them into practical use.
- Innovation = the process of turning ideas into reality and capturing value from them.
- search (how can we find opportunities for innovation?) detecting signals
- select (what are we going to do and why?) the choices made fit the overall business
strategy of the firm, and build upon established areas of technical and marketing
competence
Key questions:
- Possible technological and market opportunities - what could we do?
- Distinctive competencies - can we build on our knowledge base?
- Do we want to do it - fit with overall business?
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, zondag 18 september 2016
- implementation (how are we going to make it happen?) turning those potential ideas
into some kind of reality - a new product or service, a change in process, a shift in
business model.
Key questions:
- Acquire knowledge
involves combining new and existing knowledge (available within and outside the
organization) to offer a solution to the problem. It involves both generation of
technological knowledge (via R&D carried out within and outside the organization) and
technology transfer (between internal sources or from external sources).
- Executing the project
its inputs are a clear strategic concept and some initial ideas for realizing the concept. Its
outputs are both a developed innovation and a prepared market (internal and external),
ready for final launch.
- Launching and sustaining innovation
of new products, services, or processes brings the need to understand the dynamics of
adoption (awareness, interest, trial, evaluation, adoption) and diffusion. Converting
awareness to interest means forging a link between the new product concept and a
personal need.
Where there is a high degree of uncertainty - as is the case with discontinuous
innovation conditions - their is a particular need for adaptive strategies which stress the
co-evolution of innovation with users, based on a series of ‘probe and learn’
experimental approaches. The role here for early and active user involvement is critical.
- capturing value (how are we going to get the benefits from it?)
Complementary assets: what other elements around the system in which the innovation
is created and delivered are hard for others to access or duplicate?
Re-innovation: essentially building upon early success but improving next generation
with revised and refined features.
Learning can be in terms of technological lessons but also in terms of capabilities and
routines.
- (Managing) innovation is a subject to a range of internal and external influences which
shape what is possible and what actually emerges.
2 contextual factors:
- The strategic context for innovation - how far is there a clear understanding of the
ways in which innovation will take the organization forward? And is this make explicit,
shared and bought out by the rest of the organization?
- The innovativeness of the organization - how far do the structure and systems
support and motivate innovative behavior? Is there a sense of support for creativity
and risk-taking, can people communicate across boundaries, is there a climate
conducive to innovation?
Types of Innovation
- Product innovation = changes in things (products/services) which an organization
offers. what we offer the world.
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