Innovation Management

Abstract

Indeed it is a subject that taxes the prowess of some of the most cap- able scholars and practitioners alike (Quinn, 1992) In looking at the multiplicity of meanings given to innovation it is possible to discern a number of characteristics: Innovation as creation (invention): The focus is on use of resources (people, time and money) to invent or develop a new product, service, new way of doing things, new way of thinking about things. , Innovation as diffusion and learning: The focus is on acquiring, supporting or using product, service or ideas. , Innovation as an event: The focus of attention here is on a discrete event, such as the development of a single product, service, idea or decision. , Innovation as a (stream of innovations) trajectory: This is recognition that a single act of innovation (as that in a discrete event) can facilitate a family of innovations to be derived from the original Source. , Innovation as change (incremental or radical): innovations enacts change. Some innovations are minor adjustments whilst other innovations are radical or discontinuous in nature. , Innovation as (firm-level) process: In this view innovation is not a single act, but a series of activities that are carried out by a firm to lead to the production of an outcome (namely, the innovation). , Innovation as a context (region, nation, etc.) level process: This view sees innovation as an act beyond the confines of an individual or firm. The view captures institutional frameworks, socio-political networks, and proximal factor endowments as factors in the act of innovation. The focus is switched from the firm to the peculiar endowments and characteristics of a specific context (region, nation, etc.).