Harvard Business Review On Innovation: ARPIT SHARMA-01416603909

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Harvard Business Review

On
INNOVATION

ARPIT SHARMA- 01416603909


“Technology-Push Linear Model of Innovation”
Basic Research

Applied Research

Invention

Development

Production

Marketing
The Innovation Process
• An innovation starts as an idea/concept that is evaluated,
refined and developed before it is applied or acted upon.
• Innovations may be inspired by reality (known problem).
The innovation (new or improved product development)
process, which leads to useful technology, requires:
– Research
– Development (up-scaling, testing)
– Production
– Marketing
– Sale
– Use/Consume
• Experience with a product results in feedback and leads to
incrementally or radically improved innovations.
Innovation – What is it?

The creation of new ideas/processes which


will lead to change in an enterprise’s
economic or social potential

[P. Drucker, ‘The Discipline of Innovation’,


Harvard Business Review, Nov-Dec, 1998, 149]
Why do we need Innovation?

Conclusion? - - If a company does not continue to introduce new products


periodically, or at least significant improvements on existing products it will
eventually be on a “going out of business” curve.
Continuing to come up with the “right” product for the market takes a lot of
innovation (plus a lot of “perspiration!”).
What is Innovative Thinking?

– A means of generating innovation to achieve two objectives


that are implicit in any good business strategy:
• make best use of and/or improve what we have today
• determine what we will need tomorrow and how we can
best achieve it, to avoid the "Dinasaur syndrome« 

– Innovative thinking has, as a prime goal, the object of


improving competitiveness through a perceived positive
differentiation from others in:
• Design/Performance
• Quality
• Price
• Uniqueness/Novelty
Innovation Process

Invention
• The adoption of an
innovation by similar firms
• Usually leads to product or
Innovation process standardization
• Products based on imitation
often are offered at lower
prices but with fewer
Imitation features
New/Improved Product Development

Stages in a New/Improved Product Development


process:
• Ideas Generation
• Ideas Screening
• Concept Development and Testing
• Business Analysis
• Beta Testing and Market Testing
• Technical Implementation
• Commercialization
Ideas, Creativity and Innovation
• Creativity
The ability to make or otherwise bring into existence
something new, whether a new solution to a problem, a
new method or device, or a new artistic object or form.
• Innovation
1 : The introduction of something new
2 : A new idea, method, or device

• Creativity = Idea + Action


• Innovation = Creativity + Productivity
• Innovation = Idea + Action + Productivity
Invention and Innovation

– An invention is an idea or concept for


a new product or process.

– An innovation is the successful entry


to the market of a novel product,
process, or business model.

– Creating an innovation from an


invention is a high risk venture.
From
From Invention
Invention to
to Innovation
Innovation

While invention depends upon


creativity,
successful technological innovation
requires integrating new knowledge
with multiple business functions.
THANK YOU

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