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An example is an innovation project which involves only staff from the engineering department. It is also possible for communities of innovation to be cross-functional (e.g. involving 2-3 functions). An example is an innovation project which involves staff from two functions, the business department and the environmental science department.
Innovation management allows the organization to respond to external or internal opportunities, and use its creativity to introduce new ideas, processes or products. [2] It is not relegated to R&D; it involves workers or users at every level in contributing creatively to an organization's product or service development and marketing.
Exploratory and value-added innovation require different leadership styles and behaviors to succeed. [14] Value-added innovation (PwC, 2010) involves refining and revising an existing product or service and typically requires minimal risk taking (compared to exploratory innovation, which often involves taking a large risk); in this case, it is most appropriate for a leader for innovation to ...
Radical innovation: "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." (p. 11) [28] Incremental innovation: "refines and extends an established design. Improvement occurs in individual components, but the underlying core design concepts, and ...
Technological Innovation however focuses on the technological aspects of a product or service rather than covering the entire organization business model. It is important to clarify that Innovation is not only driven by technology , but can also be driven by various other factors, including market demand , social and environmental factors , and ...
A chief innovation officer (CINO) or chief technology innovation officer (CTIO) is a person in a company who is primarily responsible for managing the process of innovation and change management in an organization, [1] as well as being in some cases the person who "originates new ideas but also recognizes innovative ideas generated by other people". [2]
InnoCentive is an open innovation and crowdsourcing company with its worldwide headquarters in Waltham, MA and their EMEA headquarters in London, UK.They enable organizations to put their unsolved problems and unmet needs, which are framed as ‘Challenges’, out to the crowd to address. [1]
An ambidextrous organization is able to pursue innovation (creating new products/services) while also maintaining itself through the continued use of proven techniques/products. [ 2 ] In addition, ambidexterity can promote some other positive organizational outcomes besides innovation.