Innovation Management Lecture Notes PDF

INNOVATION MANAGEMENT INNOVATION IS … a feeling; a hatchery; a lifetime of learning; a form of profit; a quest; a whole different world; about freedom; about quality and profit; always good; always quality; ambition; being one step ahead; breaking a trend; creating a new historical setting; creati...

INNOVATION MANAGEMENT INNOVATION IS … a feeling; a hatchery; a lifetime of learning; a form of profit; a quest; a whole different world; about freedom; about quality and profit; always good; always quality; ambition; being one step ahead; breaking a trend; creating a new historical setting; creating new markets; finding out how to make things better; having a different mindset; having curiosity; idea generation; improving; increasing value opening the ports to heaven;☺ making a difference; money, it’s a business plans; it is science; societal valorization of knowledge; something different; something lasting; something new; something simple; something that can actually be used in practice; the ability to ask the right question; the final goal; the introduction of a novelty; the spot on the horizon; the recognition of a problem; to be smarter and get more with less; to pick up ideas; transfer it and get people to go along; to really be in search of an actual change; to regain trust and lose disappointment; to surpass short-term interests; trying to get ahead of the game.............. Back to the future picture  Kanotomia (καινοτομία, lit. “innovation”): A compound of kainos which means ‘new’ and temnein which means ‘to cut’  Creative Destruction  THE INNOVATION OF THE IPAD Apple users are suckers - YouTube +Innovation = 40% more revenue At 15:45 (GMT) on 16 November 2021, a flying vehicle called ‘Spirit of Innovation’ breaks all speed records and becomes the fastest electric vehicle known to mankind. The aircraft reached a top speed of 555 9 km/h (345.4 mph) over 3 kilometers. Its manufacturer Rolls Royce proudly announces the freshly set world record. The CEO declares: “The advanced battery and propulsion technology developed for this programme has exciting applications for the Advanced Air Mobility market. Following the world’s focus on the need for action at COP26.” The business secretary states: “Rolls-Royce’s revolutionary Spirit of Innovation aircraft is yet more proof of the UK’s enviable credentials when it comes to innovation. […] The government is proud to back projects like this to leverage the private investment necessary to unlock cleaner, greener aircraft which will allow people to fly as they do now, but in a way that cuts emissions.” The electric vehicle, presented as a steppingstone to a greener future in aircraft mobility, comes with the following statistics: The battery has 6480 cells, enough power to charge 7,500 phones. A 2200 rpm propellor rotation twice as fast as a washing machine. The motor power of 400 kW which is equivalent of a 535 BHP supercar. QUESTION AND ANSWERS In the coursera lectures there are 3 paradoxes mentioned: uncertainty, capabilities and collaboration, but in the book, there are different ones. Which ones are relevant for the course? QUESTION AND ANSWERS How can NGOs, whose focus is primarily on their social impact, be aware of the need to innovate and who within those organisations should be responsible for the role of developing innovation strategies? Should they have an innovation manager as a lot of corporations have? How can a smaller organisation with low human resources that is focused on its social mission allocate some of that scarce resources to innovation? What are some low-cost, high-impact ways NGOs can encourage an innovation culture within resource constraints? Are there any differences between how NGOs and corporations should innovate? QUESTION AND ANSWERS In yesterday’s lecture, the modularity matrix was discussed, and it was about core concept and the linkage between core concept and core component. However, in the book to the matrix, it is about components and interface. Is this the same thing? In the book I also don't see anything about overturned/reinforced and changed/unchanged. Also, a definition of innovation according to Schelling is given. This definition I do not believe I see in the book. I do see another definition on page 5 of the book. What about this during the case assignments? Are both definitions right then? QUESTION AND ANSWERS In module 1 of the MOOC, an example came up about a pill with a camera, which can then speed up research in detecting problems in the body. It was said that this is a radical innovation, but could you argue that the core concept does not actually change? Namely, the idea/purpose of detecting a disease remains the same. My question is where specifically do we draw the line in changing the 'core concept'? How do you actually define the core concept? Space Villages Founded 5 years ago Mission: To launch the first commercial space station Goal: to host up to 100 humans in space by 2035 How? Modular space platforms that can serve all kinds of functions Built by robotic arms Question now: who is the market? The team Passionate, enthusiastic, hard working space geeks Funding acquired from international grants and investors CEO doubles down on vision and mission That was last year… …this year, Space Villages had to file for bankruptcy. What happened? What happened? Focus too broad: no clear market or target client Betting on too many horses: money from investments was scattered over different projects Financial difficulties and mismanagement: Missed lease payments Skipped pension contribution for employees CEO only wanted to hear “good news” Lack of psychological safety No critical ideas or new insights → lack of creativity Now what? Commercialization of space still hot topic Space Villages will likely continue under the flag of Orbital Outpost X Lessons learned?