Innovation Strategy Development Essay
Maters of Science Innovation | Core Module MGMT 661 By Associate Prof. Adel F. Dimian
My Definition, Understanding and Response of the Lecture Topic & Discussions.
Innovation Strategy Development Part 1&2
When the need of wanting to be different arises, the need to innovate takes a strong hold in one’s mind to bring about new changes that are often challenged in many different styles, manner, methods and modes. To my understanding different types of innovations requires and employs different innovative strategy or strategies. Which in turn determines the growth phase of the organization and its strategic approach and desired outcome of the innovation.
Developing an Innovation Strategy …show more content…
7. Think differently about your Story.
Captured from the book The Innovation Secrets of Steve Jobs by Carmine Gallo
To my understanding, successful growth in companies takes place when Best Practices are adopted and put to good practice and use, through valuable, creative, innovative process as stated below;
“The process of innovation involves a series of connections between problems and solutions. It is ignited and energized by ideas but driven by economics. In its natural state,, the connections are random. The process can be “managed” by increasing the number of connections and selectively reinforcing those of most value.” – A Shenhar, University of Minnesota, 1994
To supplement and support my understanding further, I would connect this chart from the lecture file.
The Innovation Process (high-level)
Captured from the lecture file The Innovation Strategy Development by Dr. Adel F. Dimian
As such innovative strategic developments form and flow from the analysis of market opportunities and threats, aspirations of its people and the needs and demands of its customers and investors. When an innovative entrepreneur together with his strategic development team capitalizes upon market opportunities and growth, development and creation of new products, services and businesses, is able to plan and strategize to minimize or even avoid threats. Through the clever alignment of Goals, strategies and tactics which enables the