Innovation Management - Principles of Management - ثالث ثانوي

4.1 Innovation Management

4 Challenges of Contemporary Management

4.1 Innovation Management

CHAPTER LESSONS

Why is managing innovation a critical challenge in today’s business world?

4.1 Innovation Management

KEY TERMS

LEARNING OBJECTIVES

A Great Idea!

4.1 Innovation Management

LO 4.1.1 Innovation in Organizations

What is Organizational Innovation?

4.1 Innovation Management

Smart office buildings with personalized environments controlled via a smartphone app are examples of organizational innovation. Can you think of any other examples?

sophisticated handheld computers in their pockets – today’s smart-

The Innovation Process

4.1 Innovation Management

There are four key steps in the innovation process, as an idea is developed from concept to reality.

4.1 Innovation Management

Why is it important to make prototypes before manufacturing the real product intended for customers?

4.1 Innovation Management

Key Innovation Types

1. Product Innovation

4.1 Innovation Management

tangible improvement on the existing offering. Many new products

A hybrid car is an example of product innovation. What other examples can you think of?

4.1 Innovation Management

2. Process Innovation

3. Paradigm Innovation

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4. Position Innovation

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The Relationship Between Types of Innovation

Net Knowledge

What are the ‘4 Ps’ of innovation?

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LO 4.1.2 Managing Innovation

Why Innovation Matters to Organizations

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Figure 4-3 The Benefits of Innovation

Solving Business Problems

Increasing Productivity

Creating Competitive Advantage

4.1 Innovation Management

competitive advantage over these rivals. Conversely,

Reducing Cost and Increasing Revenue

Innovation Management Principles

4.1 Innovation Management

The extent that an organization takes an innovative stance

In what ways do you think a company can facilitate a creative work environment?

4.1 Innovation Management

Figure 4-5 Components of Creative Work Environments There are six components that encourage a creative work environment.

What are the key benefits of innovation and the key innovation management principles?

4.1 Innovation Management

1. Which of the following is not one of the 4Ps of innovation?

The successful implementation of creative ideas in organizations is known as

Suggest several ways in which a manager can encourage a creative work environment, citing examples.

Do you think that innovation is possible in every business environment? Give reasons for your answer.