Essay On Innovation Management

Innovation management is the management of innovation processes. It actually refers both to the product and organizational innovation, but in this paper I will mention more about innovation in project based organizations. Innovation management consists of tools, that allow managers and engineers to work together with a common understanding of processes and goals, also helps the organization to respond to internal and external opportunities and utilizes its creativity to bring new ideas processes and/or products to life.1 In this article I will be looking more at the new ideas and processes rather than products. The creative capabilities of the workforce can be triggered and manipulated by the utilization of innovation management tool to ensure

The innovation management efforts adopted by organizations and businesses are through new techniques and paradigms that serve existing and new markets efficiently including those with new and modified products and/or services. As part of radical innovation, the innovation management methods should consider global trends in planning for future contexts as well as products and services. The classification of drivers for innovation involves ... ... middle of paper ... ...ss is differentiating through balancing the ideas with certainty. It involves consideration of what makes the new product and/or service competitively unique and what it seeks to achieve in the lives of customers. The final process is using the innovation to enhance every aspect of the organization or business and not solely improving the product or service through taping brand equities and reinterpreting.

It is also important to design for costs and profits to understand how it will be produced and to eliminate flaws in the design through testing. The Connection When it comes to the decisions of the new product design and the production process there is a continuous interaction between them. They are directly linked together and those decisions cannot be made separately of one another. The continuous interaction means that product design is influenced by design of production process and similarly, production process design is influenced and changed by design of product. Each step is directly linked to other areas of the organizational aspects such as equipment required, the layout of the facility, and the organizational structure.

Management has to know the trends and make the necessary technology changes to keep the company competitive. Preparation and planning is key to the implementation of new technology. Managers have to be in tune with how the changes will affect the atmosphere within the company. Providing training and paying attention to the feedback from the workforce allows for a smooth transition. For a successful transformation certain criteria have to be met for the transition of change to the new technology.

Kudler has created many opportunities while making change to the current way the company uses technology. Information technologies can revolutionize how organizations do business. Two aspects of such a revolution consist of: strategic information systems, and systems that support or provide for business reorganization. The first part of the chapter deals with strategic information systems, which are primarily used to seize the opportunities created by technological innovations and changing market conditions. Such systems are also used to increase competitiveness and effectiveness by solving organizational problems and by smoothing operations.

Interventions An intervention is an action or process of intervening. It is a set of sequenced and planned actions or events intended to help the organization increase its effectiveness. The purpose is to disrupt the status quo. They are deliberate attempts to change an organization or subunit toward a different and more effective state. We have identified the following as a relevant interventions used in the company, EROAD LTD. Techno-Structural Interventions These interventions focus on an organization 's technologyand structure.These change methods are receiving increasing attention in OD, especially in light of current concerns about productivity and organizational effectiveness.

Change and innovation has become one of the basic concepts in the modern organizations. An organization’s competitiveness is determined by its desire to embrace innovation or introduction of new and/or modified products in the market. Managers of the top performing organizations manage them in such a way that they are able to derive maximum gain from its human and technical resources though prompt and effective responses to the business challenges identified. Maximum utilization of the human resources implies that the company must be able to exploit the skills as well as the imagination of the personnel in order to promote innovativeness from all dimensions of the organization. Through this process, an organization will be in a place itself in a position that effectively promotes continued innovation of new products and services for the market.

The entrepreneur is a bearer of uncertainty (Richard Cantillon (circa 1730). Meanwhile, strategic management can be defined as the art and science of formulating, implementing and evaluating cross-functional decisions that enable an organization to achieve its objectives. Entrepreneurship focuses on innovation by identifying market opportunities and by building a unique set of resources through which the opportunities can be exploited. The key challenges for entrepreneurs is to deal with strong strategic that required the growth of enterprise. Therefore, a manageable set of the most attractive alternative strategies must be developed.

Program evaluation and Review (PERT) as well as Critical Path Method(CPM) are ideal to guide this stage. Post-implementation review. This involves the verification that the solution indeed addresses the problem pain points .This is done through the evaluation of the solution versus the problem as well as the success metrics. Debriefing of the problem solvers is paramount as it engineers the lessons learnt as well as well as providing insight to a firm problem-solution organization. Institutionalization and control.

It also depends on how people and businesses manage change which can vary depending on the change and the people. The people or businesses that handle change well will thrive while those that do not will struggle. As our world changes, so too must people, companies and organizations. There are many theories, processes, and/or models for managing change. They all provide some insight into change management, particularly what causes change and the best methods to use to effect change.