tailieunhanh - Lecture Strategic management (7/e): Chapter 12 - Dess, Lumpkin, Eisner, McNamara

Chapter 12 - Managing innovation and Fostering corporate entrepreneurship . After reading this chapter, you should have a good understanding of the following learning objectives: The importance of implementing strategies and practices that foster innovation; the challenges and pitfalls of managing corporate innovation processes; how corporations use new venture teams, business incubators, and product champions to create an internal environment and culture that promote entrepreneurial development;. | Managing Innovation and Fostering Corporate Entrepreneurship chapter 12 Managing Innovation Innovation allows for Transformation of organizational processes Creation of new & commercially viable products & services Innovation requires new knowledge from The latest technology The results of experiments Creative insights Competitive information 12- Growth opportunities come through innovation. Innovation = the use of new knowledge to transform organizational processes or create commercially viable products and services. The sources of new knowledge may include the latest technology, the results of experiments, creative insights, or competitive information. However it comes about, innovation occurs when new combinations of ideas and information bring about positive change. In fact, the root of the word innovation is the Latin novus, which means new. Innovation involves introducing or changing to something new. Is a critical part of strategic implementation. Managing Innovation . | Managing Innovation and Fostering Corporate Entrepreneurship chapter 12 Managing Innovation Innovation allows for Transformation of organizational processes Creation of new & commercially viable products & services Innovation requires new knowledge from The latest technology The results of experiments Creative insights Competitive information 12- Growth opportunities come through innovation. Innovation = the use of new knowledge to transform organizational processes or create commercially viable products and services. The sources of new knowledge may include the latest technology, the results of experiments, creative insights, or competitive information. However it comes about, innovation occurs when new combinations of ideas and information bring about positive change. In fact, the root of the word innovation is the Latin novus, which means new. Innovation involves introducing or changing to something new. Is a critical part of strategic implementation. Managing Innovation Types of innovation include Product innovation Creates new product designs Applies technology to develop new products for end-users Common during early stages of an industry’s life cycle Associated with a differentiation strategy 12- Sometimes even a small innovation can add value and create competitive advantages. Product innovation = efforts to create product designs and applications of technology to develop new products for end-users. Product innovations tend to be more common during the earlier stages of an industry’s lifecycle. Product innovations are also commonly associated with a differentiation strategy. Firms that differentiate by providing customers with new products or services that offer unique features or quality enhancements often engage in product innovation. Managing Innovation Types of innovation also include Process innovation Improves the efficiency of an organizational process Improves materials utilization, shortens cycle time, increases quality Common .