Innovation Management

Innovation Management
Definition 1/2
Innovation is:
• production or adoption, assimilation, and exploitation of a value-added
novelty in economic and social spheres;
• renewal and enlargement of products, services, and markets;
• development of new methods of production;
• and establishment of new management systems.
• It is both a process and an outcome.

(OECD)
 Innovation Management
Definition 2/2
• Innovation Management provides a framework by which a firm not only
cultivates value-focused creativity, but also harnesses and implements
innovation in the production and delivery of its products or services.
• Innovation should be encouraged and harvested from every level
• Innovation only provides a temporary advantage
• Management of innovation processes
• It refers to product and organizational innovation
Innovation Management Tools
brainstorming

product
portfolio
lifecycle
management
management

product line project

planning management

virtual idea
prototyping management
Process of Innovation Management

Implemen
Search Select Capture
t
 Types of innovation management
processes

Pushed Pulled

• Existing or newly invented

technology
• Organisation has access to and
tries to find profitable
applications for
• Example: Cloud Technology
• Finding areas where the
customer needs are not yet met
and find solutions for that needs
• Example: Smartphone
 Challenges

Managing Legal risks include the

intellectual property High tech, aerospace, potential for future
pharmaceuticals and disputes over the
issues and other medical devices ownership of
legal risks submitted IP

Processing ideas Too many ideas Time-to-Market

quickly, efficiently

makes decisions communicates

Establishing an whether or not to regularly with the
effectively solicits reviews ideas in a
efficient internal ideas timely manner
pursue the innovator on the
structure: submission just as status of the
efficiently submission
 Consulting Services
• Innovation strategy development and implementation support
• Optimization of relevant processes and procedures (idea sourcing, validation/
selection, idea development and implementation)
• Interface management (along the value chain)
• Implementation of creativity tools and methods
• Training and workshops
• Human capital analysis and recommendation – how to best utilize resources
• Development and implementation of innovative behavior by cultivating a suitable
internal environment