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Management of Innovation - Successes and Failures

by: Anna Notetaker

Management of Innovation - Successes and Failures 3620

Marketplace > Middle Tennessee State University > 3620 > Management of Innovation Successes and Failures
Anna Notetaker
GPA 3.62

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Successes and failures of Innovation
Management of Innovation
Prof. Kimball Bullington
Class Notes
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This 1 page Class Notes was uploaded by Anna Notetaker on Saturday February 13, 2016. The Class Notes belongs to 3620 at Middle Tennessee State University taught by Prof. Kimball Bullington in Spring 2016. Since its upload, it has received 10 views.


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Date Created: 02/13/16
Management of Innovation  The best way to evaluate an organization’s success in innovation is to look at the percentages of sales of products that had been introduces to the market in the last five years. The problem that you could potentially run into when doing this is that measurements can be skewed.  Innovation is important for firms because it is driven by globalization of markets and it is advent of advance technology. This enables more rapid product design and allows shorter production runs to be economically feasible.  Technological innovation advantages are increased GDP, greater mobility and communication, and improvement of medical technology.  A disadvantage to Technological innovation is pollution, resource depletion, and unintended consequences of Technology Changes.  The innovation process makes a funnel with many potential new product ideas going from large to small in the development process. o 3000 Ideas -> 300 Submissions -> 125 Small Projects -> 4 Major Developments -> 2 Launches -> 1 Product  Successful innovation requires in-depth understanding of dynamics of innovation, a well-craft innovation strategy, and a well development process to implementation.


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