Innovation Management

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Innovation management 703 Page PAGE 10

Innovation Management

1. What is innovation ? state two innovation that has revolutionised the current

market in the last decade ?

Answer . Innovation is creation of new product and implement that one in the

markets .Its not possible without the help of good knowledge regarding the product

.Firstly we have to research on the product and then get knowledge related to the

product and after that we have to plan for finance people etc and in the last we have

to implement that product into the market .

The two Innovation that has revolutionised the current market

1. NINTENDO WII The

WII is a home video game console and that wii is implement

by Nintendo on November 19, 2006 . And in 2009 more than 101 million unit sold of

this wii and the console broke the sales record for a single month in the united

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states.

2 Cromecast – Cromecast is a digital media player that is developed by google .

google release that device in July 24 2013 . This is a small device. we can play any

video on tv from mobile phone and laptops with the help of wifi firstly we have to

connect that google chrome and the mobile phone or laptops with same wifi network

then if we run any video on mobile phone that’s also run on tv as well .

2. Explain the difference between invention and innovation ? which do you consider the

most important and why ?

Answer Invention

is a new ideas to create the new product buts that’s just like a

imagination. and if we use that ideas and implement that product into the market that’s

the innovation. For example in past time one person think one day we will talk one

person to another person in air but in present that’s true we guys have mobile phone

to talk each other in air don’t worry how far we guys .Thinking of that person is a

invention and the and mobile phone that’s now we using that’s the innovation



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According to me I think both are important because if we don’t have new ideas then

how can we change the markets because we guys always looking for a new products

and without new ideas its not possible and the other hand if we not implement that

ideas to make a new product then how we guys change the markets .thats why new

ideas and modification of the old product are very important that’s why I think both are

equal important if you guys want to stay in the markets .

For example – Sony walkmanwalkman

is sony brand .it was a portable audio caste

player . the protocol was built in 1978. This was original marked in 1979 as a walkman

in japan . it was in different languages but because of this it attracted thousands of

customers in USA and UK it comes with stereo play back and mini head phone jacks .

3. Innovation . invention –commercialisation –diffusion explain

– As begin with the steps first discover the material, thoughts, ideas, or creation

after that progression for implementing the invention as innovation. After the

innovative work and testing the item now its right to for prototyping and

commercialisation. At the Last its right time to check diffusion.

In Brief as bottom:

Invention involve new ideas, new discoveries that’s the invention. The first step of any

technology is invention .Invention is based on knowledge thinking what types of

knowledge we have how we think but invention is just a imagination nothing else. For

example the car that makes electric enticing. We guys know the most parts, electric cars

have slow and expensive. So when BMWs the self described maker of the ultimate

driving machine announced it would start selling them. the driver has use a single

pedals both brake and accelerate that’s help for more efficiency

Innovationinnovation

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means we have use that’s ideas to implement new products . in

innovation we have do research activities get knowledge as much as possible regarding

to the product.


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Commercialisation – is include the development part of research and development . in

commercialisation we have to plan how to arrange finance and how many person I

have need how much money we need, Because without planning that impossible .we

have to how to stay in markets .

Diffusion –Diffusion is a modification. Means how we use the old technology in new

product .If we use any old techno in new product that means that a diffusion for

example that’s I give for innovation .change the desktop pc into laptops that’s a

diffusion because the technology is same.

For Example: Monster energy introduced by HANS in 2002. There is 34 different types

drinks under the Monster Brand in North America. Monster Energy advertised mainly

through sponsorship of sporting events like Motocross, BMX, and Mountain biking, Car

Racing.

4. Explain with an example how business models in commercialisation enable

innovation?

Answer business model is helpful for the new opportunities create on the market. The

business model perform two important functions. Value creation and value capture

Value creation – its means activities that enable the user to recognise the profit.

Value capture –means the value from the activities undertaken by the innovator the

value that the inventor hopes to gain is money .

Business model is part of commercialisation in business model we have to plan how to

run the product .

The three business model identification

1 incorporate the technology into the current business

2licence the technology to a third party

3 launch a new venue to exploit the technology


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For example – how to trade me commercialisation in the market .this site was founded

in 1999 by New Zealand Sam Morgan. Actually he was outside from and outside is very

cold he not have a cloth for cold .then he take a decision to make a site from where we

buy product.

5. What are the difference forms of innovation? Explain each form with an example.

Answer – There is three different forms of innovationProduct

and service process

Product Innovation – It consist of changes in product attributes with a change in how the

product is noticed by consumers. Product innovation is not just about being new or

being different. Its about creating new product that customers will love. Product means

tangible physical, objective product means which we have to see and touch. for

example . TV mobile phone .etc

For Example: Smart TV In past we had black & white televisions but after product

innovations in this present time we have smart tv. It more vibrant colours for better

images, watch, movies from USB internet connections for bringing the multimedia

experience.

Process innovation: Process innovation means the implementation of a new or

significantly improved production or delivery method. The any company make a product

and then they guys deliver that one to customer house that the process for example like

internet banking. that is the process if we guys have application as we can easily

assess our account at home.

For Example: An automated teller machine (ATM) is an electronic telecommunications

device that enables the customers of a financial institution to perform financial

transactions, particularly cash withdrawal without the need for a human cashier, clerk

or bank teller.

Service innovation: Service innovation is a new or significantly improved service

concept that is taken into practice. It can be for example a new customer interaction

channel a distribution system or a technological concept or a combination of them. A


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service innovation always includes replicable elements that can be identified and

systematically reproduced in other cases or environments.

For Example: Singapore Airlines launch customer of Airbus A380, the world's largest

passenger aircraft. SIA operates many airlinerelated

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subsidiaries such as aircraft

handling and engineering. Its wholly owned subsidiary Silk Air manages regional flights

to secondary cities with shorthaul

aircraft. Singapore Airlines is majorityowned

by Singapore government investment and holding company Teaser which holds 56% of

voting stock.

6. Distinguish between the different form of innovation and explain which form of

innovation tend to attract more customer attention?

Answer – There is three different forms of innovationProduct

and service process

1. Product innovation is the creation and subsequent introduction of a good or

service that is either new or an improved version of previous goods or services.

Product means tangible physical objective . product means which we have to

see and touch. For example , TV mobile phone .etc

2. Process innovation is the execution of another or overall enhanced creation or

delivery technique. This includes significant changes in techniques equipment

and software. The any company make a product and then they guys deliver that

one to customer house that the process for example like internet banking that is

the process if we guys have application as we can easily assess our account at

home that the process.


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3. Service innovation takes place in different forms using different factor inputs such

as IT hardware, knowledge, and investment in staff training, marketing and

research and development (R&D).

According to me its depend on the customer demand which one is better because some

customer just want product but some customer like services If you deliver product at

home some life that one. Mostly people attracts with products, that they always want

something new for their entertainment, business, living style etc. People wants changes

in their life style after some time.

7. Mention the four types of innovation. Explain each type with a example .

REDICAL INNOVATION:It

establishes a new dominant design and hence a new

set of core design concepts embodied in components that are linked together in

a new architecture.

E.g. Telephone . In the telephone used telecommunication technology and gives

the society the new means of mass communication. Its changes the life style . we

can easily communicate with each other with the help of telephone

INCREMENTAL INNOVATION:The

knowledge required to offer a product build

on existing knowledge competence enhancing most innovation is incremental.

E.g. In the case of the washing machine example used earlier incremental

innovation would be case of offering a machine with a more powerful motor to

give faster spin speeds.


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MODULAR INNOVATION:Modular

innovation may result in the complete

redesigned of core components. While living linkage between the components

unchanged.

E.g:Clockwork

Radio. The clockwork radio is an innovation that employs a

different form of power supply, one that utilises a spring based

clockwork

mechanism. The clockwork is a device that use the energy of the spring to

generate electricity to power the radio .

ARCHITECTURAL INNOVATION:The

innovation is often tacit and embedded in

the routines and procedure of an organisation making changes in it difficult to

discuss and respond to gives problem when firms believed that the innovation is

incremental but its actually architectural.

The essence of an architectural innovation is the reconfiguration of an establish

system to link together existing component in a new way.

For example – Sony walkmanwalkman

is sony brand .It was a portable audio caste

player . The protocol was built in 1978. This was original marked in 1979 as a walkman

in japan . It was in different languages but because of this it attracted thousands of

customers in USA and UK it comes with stereo play back and mini head phone jacks .

8. Analyse how each type of innovation impact on human behaviour, business

activity and society as a whole?

Impact on human behaviour , business activity and society are :RADICAL

INNOVATION:Under

this innovation new inventions are invented like

telephone . It use telecommunication technology and it gives the new means of


Innovation management 703 Page PAGE 10

mass communication for the society and business man. It also deeply affected

the human behaviour.

For example:In

the telephone used telecommunication technology and gives

the society the new means of mass communication. Its changes the life style. we

can easily communicate with each other with the help of telephone. Its effect on

human behaviours. Firstly we guys send letter to each other for communication

that’s a long time process .in present days telephone save the times .

INCREMENTAL INNOVATION:In

the innovation gradual improvement in

knowledge and materials lead to most product and service being enhanced over

time. It results gives the performance improvement by time to time. Helpful for

the business survival and progression of human well behave.

E.g. In the case of the washing machine example used earlier incremental

innovation would be case of offering a machine with a more powerful motor to

give faster spin speeds. Its effect on human behaviour like its save the time and

its easy to wash cloths .

MODULAR INNOVATION:It

has not much impact on society and business

houses because the components under the modular innovation remain

unchanged.

In the case of the washing machine example used earlier, incremental innovation

would be case of offering a machine with a more powerful motor to give faster

spin speeds.

For example: Electric car is most sustainable car in the world which effect on the

human behaviour. It can build a best business for companies. This car is so

cheaper to buy and maintenance cost is less.


Innovation management 703 Page PAGE 10

ARCHITECTURAL INNOVATION:Business

man may well take of the

opportunity to refine and improve the components. It helpful for the better returns

and also helpful for the economic growth. It leaves no effect in the human

conduct in light of the fact that they get same item as past one and nothing but

the same old thing new. for business it is very little gainful on the grounds that

they can't draw in more clients on the grounds that they has old item. Finally

society likewise not impact with this sort of development in light of the fact that

old item with old innovations in old business can't do something extraordinary or

inventive.

9. Using appropriate example, explain the value of innovation typology in today’s

world?

The value of innovations is that it creates novel, never before seen value.

This creations of newness is necessary when the current state longer generates

desired outcomes ( products are old & solution are out dated problems are so

new they do not have answers get, or system are in effective ) . The value it

create comes in many forms. In the case of the washing machine example used

earlier incremental innovation would be case of offering a machine with a more

powerful motor to give faster spin speeds.

Any type of innovation or invention can lead to a successful business which

eventually will make profit and provide jobs.


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Following are examples spread across business, non profit and government

respectively.

For example:Email

(Electronic mail) most commonly referred to as email or email

since 1993 is a method of exchanging digital messages from an author to

one or more recipients. The AUTODIN network first operational in 1962, provided

a message service between 1,350 terminals, handling 30 million messages per

month with an average message length of approximately 3,000 characters. Auto

din was supported by 18 large computerised switches and was connected to

the United States General Services Administration Advanced Record System

which provided similar services to roughly 2,500 terminals.

Email changed the way of conversation and it helps to protect the secret

conversations at one place but we can open this conversation at anywhere in the

world. This invention changed the whole world’s massaging way. In these days

there are many of the company doing business of mails like Google mail, Yahoo

mail, Hotmail, etc.