The paper “ Three Pillars of Success in Innovation Management, Degree of Novelty, Innovation Processes, and Categories, and Company’ s Innovative Potential” is an engrossing example of an assignment on management. Innovation management is the process of capturing and managing innovation in an organization. It involves managing the process of innovation. Innovators and management are able to cooperate with the aim of achieving a common goal. The process requires the organization to focus on innovation and come up with the right tools that can help in managing it. The process of innovation management should empower employees to innovate (Schilling, 2004). 2.
Define the degree of noveltyThis is one of the dimensions of innovation space. It defines the newness of innovation. Through the degree of novelty, it becomes easy to define the originality of an innovation. The degree of novelty gives the state of innovation by defining the state of its uniqueness (Schilling, 2004). 3. What are the 3 innovation processes? The innovation process has three functional areas. Research and development is the first process which is involved in coming up with ideas. This involves basic and applied research and development.
The second step is production and involves transforming inputs to outputs. This is based on the instructions which are given by the development. The last process is marketing. This involves selling the innovated products to the market (Schilling, 2004). 4. What are the three pillars of success in innovation management? The three pillars are; having tangible innovative results. The results should be regular and based on the needs of the organization. The second pillar is having employees who have expertise in innovation. The last pillar is an organizational culture that is able to support the implementation of innovative ideas by encouraging it (Schilling, 2004). 5.
What are the innovation categories? The three forms of innovation are process, product and strategy innovations processes. Process innovation involves increasing quality through continuous improvement of a process. It’ s an incremental process. Product/service innovation involves making the features of a product or service more improved. Strategy or business concept innovation involves working to improve the organization's business strategy. The three categories have three levels of innovation which are; radical innovation, modular innovation, and architectural innovation.
Radical innovation is based on coming up with a new whole design. This is through the use of new components. Modular innovations use new components and come up with a differing design (Schilling, 2004). Architectural design is based use of new system configuration but the design concept remains unchanged. 6. What is the company's innovative potential? This is the company able to develop and further advance innovations. It can also be defined as the ability of a firm to generate and develop ideas. It is measured through the company's available intellectual property.
It is the latency in the company to create change in the status quo. This is through looking for new ideas, improving on old processes and having research and development systems that are sustainable. Company innovative potential is also a social construct whose prediction is based on the way in which knowledge for learning is gained. It is the ability of the company to acquaint itself with a given type of knowledge. This is through having a deeper understanding of the way in which a product is created and used. Joint problem solving is an important indicator of company innovative potential (Schilling, 2004).
Leadership also plays a vital part in enabling innovative potential.