Innovation Process & Management by Shitish Nisha Kiran & Mithilesh

7/31/2019 Innovation Process & Management by Shitish Nisha Kiran & Mithilesh

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INNOVATION PROCESS&

MANAGEMENT

By :

Shitish Ahluwalia ( 038 )

Nisha Yadav ( 040 )Kiranpreet ( 039 )

Mithilesh ( 041 )


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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.


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Characteristics Of Innovation

1. Innovation leads to change .

2. It is result of a thoughtful plan .

3. Can bring complete revolution or an extension toexisting products .

4. Provide unique identity to business .5. Innovation are action-oriented and result oriented .

6. Helps in making products and process simple tounderstand .

7. It involves continuous experimentation and testing .

8. Can be applied to allProduct , Services And Process .9. It involves risk and uncertainty .


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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 .


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DO IT as a process of Innovation

DDefine problem .

OOpen mind and apply creative techniques .

IIdentify best solution .

T - Transform


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What Not To Do

1. Dont try to be too clever . Just stay in touch with reality .

2. Focus on core of problem .

3. Dont focus on more than one things at a time .

4. Dont try to make innovations for future but for today . An innovation can

have a longterm impact but there must be an immediate need for it


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Who Get Benefit From Innovation


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Advantages Of Innovation


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INNOVATION PROCESS

Any process of innovation must define and describe the actions andoutcomes 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.


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Types Of Innovation ( R & D )

1. Product Innovation : The process of bringing tolife a new product / service to solve the customersproblem .

2. Process Innovation : It increases bottomline

profitability , reduce costs , raise productivity andincrease employee job satisfaction .

3. Strategy Innovation : It is about challengingexisting industry methods of creating customervalue in order to meet newly emerging customerneeds , add additional value and create newmarkets.


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Types Of Innovation According To Process

Incremental : Improve the existing functional capabilities of atechnology by means of a small scale improvements in the technologys

value adding attributes such as performancesafetyqualitycost .

Radical : Introduce new concepts that depart significantly from pastpractices and help to create products or processes based on differentsets of engineering or scientific principles such as opening to entirelynew market .

Modular : Incremental innovation that leads to creation of a new butnot radically different . Ex : Automobile Industry Products .

Architectural : Introduce the notion of change in the way in which thecomponents of a product or system are linked together .


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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 .


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INNOVATION PROCESS CYCLE


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Stages Of Innovation Process

Management


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Various Level Of Process Innovation


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Models Of Innovation Process

1. Linear Model

(a). Technology Push

(b). Market Push

2. Flexible Model


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Linear Model Of Innovation

Also known as traditional phase gate model.

Innovation process at organizational level can be donethrough series of steps arranged in sequential manner in sucha way that preceding phase must be cleared before moving tonext phase .

Innovation process is tightly controlled and directed from

beginning towards set targets and inputs are managed toachieve the same .


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Types Of Linear Model


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Flexible Model

It is combination of linear and non-linear approaches .

Phases are overlapped i.e. development in more than onephase 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 thecustomer needs .


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Steps In Process Innovation


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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 .


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Considerations For Proper Management Of

Innovation


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Moving To Real Innovation

A Practical Approach

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Innovation Process & Management by Shitish Nisha Kiran & Mithilesh