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Innovation Management Notes

This document discusses various concepts related to intellectual property, innovation, and organizational resources that support innovation. It covers intellectual property types like patents, trademarks, and trade secrets. It also discusses the differences between invention and innovation, types of innovation like incremental and disruptive, and funding sources for innovation projects. Key organizational resources that support innovation identified are intellectual property, time, and technology.

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Mohd Izzudin
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1K views4 pages

Innovation Management Notes

This document discusses various concepts related to intellectual property, innovation, and organizational resources that support innovation. It covers intellectual property types like patents, trademarks, and trade secrets. It also discusses the differences between invention and innovation, types of innovation like incremental and disruptive, and funding sources for innovation projects. Key organizational resources that support innovation identified are intellectual property, time, and technology.

Uploaded by

Mohd Izzudin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Discuss the following concepts:

Intellectual property
o Work/invention which one has rights for e.g. processes, products,
info, systems, customers.
o Every aspect of operation, need to be managed & protected.
o Seldom documented.
Patent
o License conferring rights to work/invention.
o Offers 20-year monopoly.
o E.g. medicines.
Trademark
o Distinctive name/mark/symbol identified with company / its
products
o E.g. emblems, logo, catchphrase
Trade secret
o Secret device/technique used by companies to manufacture
products/services.
o E.g. special ways of working, price costing, business strategy.
Design rights
o Protects the outward appearance of an article.
o Provides exclusive rights up to 15 years.
o E.g. shape, contours, lines, colours, texture.

5 differences between invention & innovation:


Invention
Creation of new
product/service/process
May not be commercialized
Motive may be non-economic or
economic
Can be both autonomous & induced
Activities usually restricted to R&D
centre

Innovation
Introduction of new p/s/p into
marketplace
Results into commercialization
Motive usually economic
Usually induced
Activities & applications spread across
org.

Identify & explain 5 advantages of using marketing plan and


justify answers with relevant examples:

With proper example, discuss 4 types of innovation:


1. Incremental
Improve current products/services/processes/system
E.g. new features/styles of automobiles, many versions of iPhone
2. Discontinuous
Totally stop & start new product/service with same function.
E.g. horse/buggy to automobile, candles to light bulbs
3. Radical

Introduce new product/service that develop new biz or industries.


E.g. The internet
4. Disruptive
Brings new value proposition: new features and benefits.
E.g. silver halide film to digital photography

There are various forms of capital available for innovation project


funding. Discuss any 5:
1.
2.
3.
4.
5.

Founder, funder
Family
Friends
Business angels
Venture capitalist - banks

Give 5 reasons why innovation always fail:


1.
2.
3.
4.
5.

Poor
Poor
Poor
Poor
Poor

goal definition
alignment of actions to goals
participation in teams
monitoring of results
communication and access to information

Discuss 5 perspectives on how innovation can contribute to


nation growth:

With appropriate examples, discuss in detail the 4 phases of the


long wave cycle in innovation process:

Prosperity
Recession
Depression
Recovery

Discuss the following terms:

Rights & responsibility


Life span
Liabilities

Steps in innovation:

Explain the meaning of product platform & give example of


companies that use product platform in its innovation process:

Versatile product, common formula/design, base of a family of products.


It is the foundation of product strategy
Many products are typically built from a core technology
Collection of the common elements implemented across a range of
products.
E.g. Perodua, Ford, Benz

Define the following terms:

Innovation
o Process translating idea/invention into goods/services/process which
brings value & create returns.
Invention
o Creation of a new scientific/technical idea and demonstrating that it
will work in practice.
Creativity
o Mental process involving generation of new ideas / new associations
between existing ideas.
System innovation
o
Disruptive innovation

According to Kotler & Heskett classification of culture, Theory 1 says


that firms operating in uninhabited markets where they have almost
monopolistic power can become inwardly focused, arrogant &
bureaucratic and have strong culture. However, having strong culture
does not guarantee the firm will have excellent performance.

Please discuss briefly & give your example. (5 points):

Intellectual property, time & technology are 3 of organization


resources that are critical to innovation. Discuss how:

4 functions and roles for organizational:

External routes to innovation:

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