innovation
Innovation is the first commercial application/production of new product, process or system. It includes managerial and organizational innovation as well as technological innovation. Innovation can lead to economic growth for a nation, increase the profits of firms, generate new products and markets, safeguard old markets, enlarge the variety of products on offer to the consumer and eventually increase the quality of life. Some early models of innovation are the 'technology-push' and 'need-pull' models. According to the 'technology-push' model, "discoveries in basic science lead eventually to industrial technological developments which result in a flow of new products and processes to the marketplace". (Rothwell, p.49) In the 'need-pull' model, "innovations arise as the result of a perceived, and often clearly articulated market need".(Rothwell, p.49) Both of these models are only one-sided approaches. Advocates of 'technology-push' tend to use examples like the laser or the nuclear energy, where there was not any potential market, while advocates of 'need-pull' tend to use examples like the synthetic rubber, which was invented and innovated because of a clearly existing need. The vast majority of the innovations lies somewher
219) Thus, we cannot really say if the factors used for evaluating the success or failure of an innovation are neither necessary nor sufficient. It studied 58 innovations in chemicals and scientific instruments, by comparing them in pairs. Many of the cases of failure showed greater after-sales problems. He identified seven factors as important in every innovation in order to succeed: the presence of an outstanding person in a position of authority; the need identification; the presence of specialist knowledge; availability of resources; realization of potential usefulness of a discovery; help from government resources; good co-operation. Also, competitive pressures or declining growth may be important in stimulating innovations, but they do not ensure success. Also there was the Project Hindsight (1966-7). Another critical element, is the good communication within the firm and between the firm and its potential customers. A great difficulty about all these case studies, is that we do not know how far they are representative of the innovation process. The criterion of success or failure was a commercial one. 2, The process of technological innovation: patterns and influences. On the other hand it involves technical knowledge. On the one hand it involves the recognition of a potential market.
Common topics in this essay:
,
Project Hindsight,
Longman Ch2,
Freeman Soete,
Ch8 Success,
Rothwell Zegveld,
potential market,
success failure,
Marquis Myers,
Carter Williams,
product process,
technological innovation,
innovation succeed,
requirements potential,
tend examples,
technical knowledge,
industrial innovation,
successful unsuccessful,
|
Acceptance Essays
