Full summary - Strategic Innovation Management

STRATEGIC INNOVATION
MANAGEMENT
Master of Business Administration




KU Leuven Brussels




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, PART 1 – Innovation Management
CHAPTER 1 – Innovation Management : an introduction

I. Definition of innovation

- Commercial exploitation of new ideas -> not about inventing new ideas, bringing
ideas to the market -> can even not be your ideas

- Product Innovation e.g. new service
- Process Innovation e.g. just-in-time system
(deliver on time to avoid stock)
- Organizational Innovation – if you change the
fist two, the organization of the company is
going to change as well
Technical non-technical


- Business model innovation (more recent) -> going from eco focused on buying and
owning things to sharing
o E.g. uber, AirBnb, lime,…
- Form, color, graphic, design,… -> not part of innovation
o More related to marketing and branding activities

- Incremental innovation : you have a product and
continuously improve it -> move along technology path
o Typical In industrial economies e.g. food
- Disruptive innovation: disrupt existing business e.g.digital
photography
o e.g. nokia, kodak
o can be related to creative destruction -> new
technology pops up and disrupts existing markets ->
new companies grow very fast and take over the
market

- Incremental economy : more focus on doing, using, interacting mode of innovation
o Along existing technology path, trajectory

II. Study of innovation

- Search -> creative indivuals (basis)
- Select
- Implement
- Capture value




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