Managing Innovation - Lecture 1 - Tools for Innovation Management

Asalam o Alaikum dear friends, I hope you all would be fine. Friends our 3rd semester has started and in this 3rd semester there are four subjects that we will study in this semester they are Advanced Research Method, Tools for Innovation Management, Managerial Economics and Strategic Marketing Management.
In this Post I am going to share a Lecture No.1 of subject Tools for Innovation Management. This lecture is provided by Mam, Iffat Naqvi, who teach us this subject at MUISTD Department Jamshoro.
Friends I am writing only some points or definitions of lecture and further explanation or detailed version you can download below complete lecture that is provided by Mam, Iffat Naqvi.

Content of this Lecture

What is Innovation
Why Innovation Matters
How Innovation Matters
4 P's of Innovation Space
Case Study

What is Innovation

Innovation is the specific tools of entrepreneurs, the means by which they exploit change as an opportunity for a different business and service. It is capable of being presented as a discipline, capable of being learned, capable of being practiced.    P. Drucker (1985)

Why Innovation Matters

Innovation is our lifeblood’ – Siemens about innovation (wbout its future.ww.siemens com)‘Adi Dassler had a clear, simple and unwavering passion for sport. Which is why with the benefit of 50 years of relentless innovation created in his spirit, we continue to say at the forefront of technology.

How Innovation Matters

A strong correlation between market performance and new products
Competing in time
Process innovation … a strategic role
Competitive advantage
Citibank … ATM
Benetton …IT-led production network
Zara ….. ….. ?
Marshalls ……….  ?
Charles Schwab ………. ?

Case Study

Bic is a famous company known previously for ballpoint pens. After a while, the company realised that it needs to develop a new range of product in order to stay in the market. Here is Bic’s innovation space.

Do you have solution of this case study? If yes then kindly comment us your answer with suitable reasoning.

Click Here to Download

Thank You