Projects should align with resources and objectives leveraging core

Projects should align with resources and objectives

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Projects should align with resources and objectives, leveraging core competencies and helping it achieve its strategic intent To maximize a firm’s new product development process success, a firm needs: o An indepth understanding of the dynamics of innovation o A well-crafted innovation strategy o A well-designed process for implementing the innovation strategy Chapter 2: Sources of Innovation Innovation – the practical implementation of an idea into a new device or process comes from firms, universities, government labs, private non-profit organizations, and individuals Firms have more incentive to differentiate and innovate Networks of innovators leverage knowledge and other resources from multiple sources – one of the more powerful agents of technological advance Idea – something imagined or pictured in the mind
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Creativity – the ability to produce novel and useful work Creative personality traits: Self-efficacy (confidence in capabilities) Tolerance for ambiguity Willingness to overcome obstacles and take reasonable risks Creative environments: Suggestion box (1895 – National cash register p. 21) Collaborative idea forums (Google) Through active exchange, employees can evaluate and refine ideas, improving on their fit with the diverse needs of the organization’s stakeholders Intranet – a private network, accessible only to authorized individuals. Like the internet but only within the organization Traits of inventors: They have mastered the basic tools and operations of the field in which they invent, but they have not specialized solely in that field. Instead they have pursued 2 or 3 fields simultaneously, permitting them to bring different perspectives to each They are curious and more interested in problems than solutions They question the assumptions made in previous work in the field They often have the sense that all knowledge is unified. They seek global solutions rather than local solutions and are generalists by nature Basic research – Research targeted at increasing scientific knowledge for its own sake. It may or may not have any long-term commercial application Applied research – research targeted at increasing knowledge for a specific application or need (has commercial objective) Development – activities that apply knowledge to produce useful devices, materials or processes R&D as a percentage of sales has a strong positive correlation with its sales growth rate, sales from new products, and profitability Science push approach to research and development – assumed that innovation proceeded linearly from scientific discovery, to invention, to engineering, then manufacturing activities and finally marketing little applicability to the real world (a 1950s and 60s theory)
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Demand pull model of research and development – approach argued that innovation was driven by the perceived demand of potential users. Research staff would develop new products in response to customer problems and suggestions still too simplistic
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  • Spring '14
  • JohnC.Byrne
  • Revenue

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