Organizing and managing
innovation Summary
Chapter X-X
Timo Verkade
,Module 1
- Learning goal 1
- Learning goal 2
- Learning goal 3
Lecture 1
Paradigms: Mental models/Frameworks
Paradigm = a common cohesive understanding of how a certain phenomenon must be interpreted
and explained.
Paradigm shifts = the dominant paradigm loses its momentum/relevance and is challenged by others
with alternative positions/narratives.
Innovation
Innovation = transformation of an existing state of things in order to product something new
(improvement). How are things done currently in a given society and how can they be improved.
- Innovation can be different a decade later, or in another country/continent
Basic common elements talking about innovation = Knowledge, information and application of that
information on knowledge to solve a problem
Innovation is processual:
1. Identify a need or a problem
2. Develop a feasible (affordable, in cost) solution
3. Product/manufacture and market the solution
4. Achieve adoption/diffusion of the innovation
Economic innovation = process of change that introduces economic and regulatory elements
concerning the needs in a society, how they are met and how the goods and services are produced.
From entrepreneurs perspective: a problem-solving process that involves searching for new
combinations of known information/knowledge. The role of the entrepreneur is to activate and
coordinate all relevant factors for the production of the innovation.
Innovation has many other definitions
- Application of knowledge to solve/address a problem
- Technical approaches to improve business operations
- The OECD (Oslo manual) considers innovation as: a new or improved product/process that
differs significantly from the unit’s previous products/processes and that has been made
available to potential users/brought into use by the unit. Also includes organizational and
marketing innovations.
Process view of innovation
1. Obtain and gather information and knowledge (what are the sources?)
2. Organize
3. Deploy for commercial purpose
Innovation often can be a resource-intensive, uncertain, complex, and untidy process
, Why innovate?
Depends on how firms frame their problems and how they go forward to solve them.
Innovation triggers
- Unexplored/unexploited opportunities
- New discoveries/knowledge
- Scarcity
- Competition
Economic value = the value that person places on an economic good based on the benefit that they
derive from the good.
innovation Summary
Chapter X-X
Timo Verkade
,Module 1
- Learning goal 1
- Learning goal 2
- Learning goal 3
Lecture 1
Paradigms: Mental models/Frameworks
Paradigm = a common cohesive understanding of how a certain phenomenon must be interpreted
and explained.
Paradigm shifts = the dominant paradigm loses its momentum/relevance and is challenged by others
with alternative positions/narratives.
Innovation
Innovation = transformation of an existing state of things in order to product something new
(improvement). How are things done currently in a given society and how can they be improved.
- Innovation can be different a decade later, or in another country/continent
Basic common elements talking about innovation = Knowledge, information and application of that
information on knowledge to solve a problem
Innovation is processual:
1. Identify a need or a problem
2. Develop a feasible (affordable, in cost) solution
3. Product/manufacture and market the solution
4. Achieve adoption/diffusion of the innovation
Economic innovation = process of change that introduces economic and regulatory elements
concerning the needs in a society, how they are met and how the goods and services are produced.
From entrepreneurs perspective: a problem-solving process that involves searching for new
combinations of known information/knowledge. The role of the entrepreneur is to activate and
coordinate all relevant factors for the production of the innovation.
Innovation has many other definitions
- Application of knowledge to solve/address a problem
- Technical approaches to improve business operations
- The OECD (Oslo manual) considers innovation as: a new or improved product/process that
differs significantly from the unit’s previous products/processes and that has been made
available to potential users/brought into use by the unit. Also includes organizational and
marketing innovations.
Process view of innovation
1. Obtain and gather information and knowledge (what are the sources?)
2. Organize
3. Deploy for commercial purpose
Innovation often can be a resource-intensive, uncertain, complex, and untidy process
, Why innovate?
Depends on how firms frame their problems and how they go forward to solve them.
Innovation triggers
- Unexplored/unexploited opportunities
- New discoveries/knowledge
- Scarcity
- Competition
Economic value = the value that person places on an economic good based on the benefit that they
derive from the good.
