Innovating & D eveloping New Products & Industries Thro ugh Strengthe ning Knowledge Bas ed Competitive Advantages

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no In • n Innovation is a process that includes the o
technical, manufacturing, management and commercial activities involved in the marketing of a new (or improved) product or the first use of a new (improved) manufacturing process or

ti va

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A culture for innovation

• National Innovation system
– Internal organization of firms
• Technological innovations • Organizational innovations • Social innovation

– Inter-firm linkages
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Policies for promoting NIS
• Policy formulation, implementation, monitoring and evaluation
– Policy formulation – Policy implementation – Monitoring and evaluation
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Contd…. Prom •

Prom o linka ting hor ges izont – Str al in ter-f engt irm heni firmlinka ng vert ges ical i nter-

oting linka inter ges -firm –

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Contd…….
• Promoting links between science and industry. • Formation of innovative entrepreneurs
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A culture for innovation inter firms
– Human Resources
• Ability of management to encourage new ideas. • Rewarding staff

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Continued……
•Organizational structure and management Factors influencing innovation with Organization structure and management
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Managing the process for innovation

• The process

– New product Development – Marketing – Production – Finance

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Components of innovation in production

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Finance as a component of innovation

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Manag in

ationsh 1. Rel 5 attitude p rs . A .Can-do. To cto 2 onstant c a rive for F 3. St vement impro hnology best tec ancial Use the 4. lated fin u e a calc 5. Tak Mustangs
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g the p rocess innova for tionketing ip mar

Implementation of innovation
The system
– Macro Environment – Networks – Customers – Suppliers
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Macro Environment
hic rap ve eog titi üG pe ment m C o i r on ü nv y log ent E o hn cem Tec an ü dv l A ica ment olit ron ü P nvi E mic ent ono nmby Anzir Mahmud Ec o Slide rs

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Networks
Network factor that influence innovation

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Customers
Customer factors that influence innovation

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Suppliers
Supply factors for innovation

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assista d use of go vernm nce ent – Keep up with techno – Netw logy ork . h orizont – Cust ally an omer i d verti s King – Keep cally your su ppliers close
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• 5 fac tors fo r imple innova menta tion tion of – Know an

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critical success factors Initiating new product

development and product adaptation Relationship marketing Technology Networks Investment in human capital Government assistance Mustangs
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Conclusi on innovative firms adopt a ra

nge of formalized to b e successful in their industries d hniques liste c the same te Adoption of innovation. fostering of for the the study identified formalized practice s and behavioral asp ects. Equally important in achiev ing innovation. Mustangs
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SPECIAL THANKS to our
Course teacher

• Md. Nur Alam

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It’s a Mustangs presentation
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