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INNOVATION PROCESS & MANAGEMENT

By : Shitish Ahluwalia ( 038 ) Nisha Yadav ( 040 ) Kiranpreet ( 039 ) Mithilesh ( 041 )

DISCOVERY : Discovery Is Coming Across The Existing Things That Are Not Known To The Outside World . Discovery Can Lead To Both Invention As Well As Innovation . Ex : Discovery Of America .

INVENTION : Invention Is Making Something New Out Of The Existing Thing. Ex : Invention Of Microchips In Computers Revolutionize Technology .

INNOVATION : Innovation Is Making Use Of Some Invention And Making Them Into A Commercially Viable Product / Service / Business.

Characteristics Of Innovation
1. 2. 3.
4. 5. 6. 7. 8. 9.

Innovation leads to change . It is result of a thoughtful plan . Can bring complete revolution or an extension to existing products . Provide unique identity to business . Innovation are action-oriented and result oriented . Helps in making products and process simple to understand . It involves continuous experimentation and testing . Can be applied to all Product , Services And Process . It involves risk and uncertainty .

Sources Of Innovative Ideas


1. Unsatisfied customers . 2. Demographic change in society . 3. Market changes . 4. Knowledge based concepts . 5. Research and development . 6. Problem solving .

DO IT as a process of Innovation
D Define problem . O Open mind and apply creative techniques . I Identify best solution . T - Transform

What Not To Do
1. 2. 3. 4. Dont try to be too clever . Just stay in touch with reality . Focus on core of problem . Dont focus on more than one things at a time . Dont try to make innovations for future but for today . An innovation can have a long term impact but there must be an immediate need for it

Who Get Benefit From Innovation

Advantages Of Innovation

INNOVATION PROCESS
Any process of innovation must define and describe the actions and outcomes that result from the application of specific methods and tools. The process of innovation relies on the non-linear methods of iteration and abstraction. Iteration because that is how we learn things and obtain new knowledge, by going back and understanding of the things we see and learn. Abstraction, by extracting common features from specific examples.

Types Of Innovation ( R & D )


1. Product Innovation : The process of bringing to life a new product / service to solve the customers problem . Process Innovation : It increases bottom line profitability , reduce costs , raise productivity and increase employee job satisfaction . Strategy Innovation : It is about challenging existing industry methods of creating customer value in order to meet newly emerging customer needs , add additional value and create new markets.

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Types Of Innovation According To Process


Incremental : Improve the existing functional capabilities of a technology by means of a small scale improvements in the technologys value adding attributes such as performance safety quality cost .

Radical : Introduce new concepts that depart significantly from past practices and help to create products or processes based on different sets of engineering or scientific principles such as opening to entirely new market .
Modular : Incremental innovation that leads to creation of a new but not radically different . Ex : Automobile Industry Products . Architectural : Introduce the notion of change in the way in which the components of a product or system are linked together .

Types Of Innovation According To Its Content


Product Innovation : Introduction of change in end product / service or their quality .

Process Innovation : Introduction of change in products / services delivery methods .


Market Innovation : Opening of a new market . Resource Innovation : Change in sources of raw material supply .

Organizational Innovation : Change in characteristics of organizational structure .

INNOVATION PROCESS CYCLE

Stages Of Innovation Process Management

Various Level Of Process Innovation

Models Of Innovation Process


1. Linear Model

(a). Technology Push

(b). Market Push

2. Flexible Model

Linear Model Of Innovation


Also known as traditional phase gate model.

Innovation process at organizational level can be done through series of steps arranged in sequential manner in such a way that preceding phase must be cleared before moving to next phase .

Innovation process is tightly controlled and directed from beginning towards set targets and inputs are managed to achieve the same .

Types Of Linear Model

Flexible Model
It is combination of linear and non-linear approaches .

Phases are overlapped i.e. development in more than one phase can continue at same point of time .

Innovation is cyclical in sense that is driven by the product development cycle . This cycle often begins with the customer needs .

Steps In Process Innovation

Management Of Innovation
Innovation Process is process of managing innovations in organizations. Management of innovation deals with meeting and managing eight primary needs of an organization . 1. To integrate technology into overall strategic objectives of an organization . 2. To get into and out of technologies faster and more efficiently . 3. To assess or evaluate technology more efficiently . 4. To accomplish technology transfer . 5. To reduce new product development time . 6. To manage large , complex and interdisciplinary or inter-organizational projects and systems . 7. To manage organizations internal use of technology . 8. To leverage the effectiveness of the technical professionals .

Considerations For Proper Management Of Innovation

Moving To Real Innovation

A Practical Approach

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