Lecture

Innovation Management at CSEM

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In course

MGT-411: Innovation management

This is a collection of lectures on "structured innovation systems," codified approaches to stimulating and managing the process of innovation. Some of the systems to be covered may be Design Thinking, Open Innovation, Crowdsourcing, Lean Innovation, and o ...

Description

This lecture covers the importance of innovation management, including factors influencing it, securing long-term success, and achieving competitive advantages. It discusses different types of innovation, creating an innovation environment, managing innovation, and examples of successful innovations. The lecture also explores the challenges faced in successfully innovating, innovation methods used by businesses, and the innovation landscape in Switzerland.

Official source

Related concepts (32)

Open innovation

Open innovation is a term used to promote an information age mindset toward innovation that runs counter to the secrecy and silo mentality of traditional corporate research labs. The benefits and driving forces behind increased openness have been noted and discussed as far back as the 1960s, especially as it pertains to interfirm cooperation in R&D.

Innovation

Innovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity realizing or redistributing value". Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies.

Diffusion of innovations

Diffusion of innovations is a theory that seeks to explain how, why, and at what rate new ideas and technology spread. The theory was popularized by Everett Rogers in his book Diffusion of Innovations, first published in 1962. Rogers argues that diffusion is the process by which an innovation is communicated over time among the participants in a social system. The origins of the diffusion of innovations theory are varied and span multiple disciplines.

Disruptive innovation

In business theory, disruptive innovation is innovation that creates a new market and value network or enters at the bottom of an existing market and eventually displaces established market-leading firms, products, and alliances. The term, "disruptive innovation" was popularized by the American academic Clayton Christensen and his collaborators beginning in 1995,, but the concept had been previously described in Richard N. Foster's book "Innovation: The Attacker's Advantage" and in the paper Strategic Responses to Technological Threats.

Market (economics)

In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society.

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