Lecture

Innovation Management: Course Overview

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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 introduces the ground rules for virtual learning, emphasizing the importance of active participation and interaction. It covers the course design, focusing on structured innovation systems and varied approaches to managing innovation projects. The importance of class participation, guest speakers, and the course assessment methods are discussed. The lecture delves into the key theme of the course, exploring different aspects of innovation, including invention, commercialization, and the role of the innovator. It also addresses technological innovation, levels of innovation, disruptive innovation, and the key takeaways for the audience.

Official source

Related concepts (14)

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.

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.

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.

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.

Technological change

Technological change (TC) or technological development is the overall process of invention, innovation and diffusion of technology or processes.From [[The New Palgrave Dictionary of technical change" by S. Metcalfe. • "biased and biased technological change" by Peter L. Rousseau. • "skill-biased technical change" by Giovanni L. Violante.

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