How to Read Management Essentials: Innovation Management: Learn how to use the main innovation management terminology and concepts RTF
How to Manage InnovationLearn how to use the main innovation management terminology and concepts What is innovation management? How do firms bring in new business models and get new products and services to the market? Learn the innovation management concepts, theories of idea generation, selection, strategy formulation and implementation. You will also learn the tools for implementing innovation projects yourself.Explore what Innovation Management is all aboutYou will understand the meaning of innovation and innovation management. You will learn to identify and differentiate between various types of innovation. As a result, you will become acquainted with basic terminology that will help you to better process and understand the content better.Understand the Adoption of InnovationsYou will learn to understand how innovations diffuse in society and be able to describe the adoption life cycle and discriminate between the various adopter groups. Altogether, you will gain a better understanding of what determines whether and how fast people adopt innovations.Learn about the front end of Innovation ManagementIn a knowledge-based and innovation-driven business environment, creativity is an essential capability if an organization is to gain a sustainable competitive advantage. All innovations begin with creative ideas, and creativity is also needed during the entire innovation process. It is imminent that employees in any job and at any level of the organization can contribute to innovation with creative ideas. You will understand what creativity is and how you, other people and groups become more creative: crucial knowledge for any manager that wants to excel in innovation!Organizations receive many new ideas from employees, suppliers, and customers. They often do not realize the innovative potential of these ideas because they fail to properly manage them. You will understand the basic principles of idea management. You will be able to differentiate between three types of idea management programs, and learn about their different characteristics, advantages and disadvantages. In addition, you will learn about two general challenges that many idea management programs face: how to motivate people to continuously submit ideas and how to improve the quality of ideas. A better understanding of the principles, differences, and challenges of idea management will help you design appropriate idea management programs that turn new ideas into successful innovations.Develop and explore the Strategic part of Innovation ManagementInnovating is no longer a choice, but a business imperative. This imperative demands a clear strategic direction for the innovation activities. This part introduces the central challenges and available solutions to develop and execute an innovation strategy. We introduce the concept of the funnel. We show two alternative funnels, reactive and proactive. We will elaborate on an important consideration in portfolio management, which is protecting intellectual property. Finally, you will learn two specific tools that you can use in portfolio management, the real options method, and the planning tool called ‘road mapping’.Learn how to implement Innovations and manage Innovative teamsYou will learn how innovation projects can be managed. You will understand and describe the different elements of stage-gate models. How do teams and social networks affect the development and the sharing of knowledge and innovation? This part will help you develop conceptual and practical knowledge on these topics. You will explore key concepts about teams and networks, and become more aware of how you can generate and transmit innovation in your work activity.
