Innovation Management: A success factor for competitiveness

Janne Roos

Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientific

Abstract

Innovation is about more than technology and in order to get the expected returns from investment in innovation it is essential that: 1. Product/service and process innovation efforts are combined with business model innovation efforts to optimize the benefits from the result of the technical innovation effort. 2. The lower the technology component of the business the relatively higher the importance of the business model innovation component of the business. 3. There are compelling reasons to innovate and the economics of successful innovation is unambiguous. 4. Innovation, like all other business processes, must be managed. 5. The management of research is different from the management of innovation. 6. Creativity is sometimes a necessary but not sufficient requirement for successful innovation and less important then many other requirements. 7. The key to success is the innovation management system, and the most important part of the innovation management system is a clear and concise innovation strategy underpinned by a supportive innovation culture in the organisation. 8. The structure of best practices systems is well-known and requires relatively little effort to customize and implement. There is no excuse to have low innovative performance.
Original languageEnglish
Title of host publicationVTT Intelligence Forum 2007
Subtitle of host publicationTuottavuus ja T&K-strategia murroksessa. Miten vastata haasteeseen?
Place of PublicationEspoo
PublisherVTT Technical Research Centre of Finland
Pages41-62
ISBN (Electronic)978-951-38-6324-1
ISBN (Print)978-951-38-6323-4
Publication statusPublished - 2007
MoE publication typeB3 Non-refereed article in conference proceedings
EventVTT Intelligence Forum 2007
: Tuottavuus ja T&K-strategia murroksessa. Miten vastata haasteeseen?
- Espoo, Finland
Duration: 3 Oct 20073 Oct 2007

Publication series

SeriesVTT Symposium
Number250
ISSN0357-9387

Seminar

SeminarVTT Intelligence Forum 2007
CountryFinland
CityEspoo
Period3/10/073/10/07

Keywords

  • globalization
  • global economy
  • competitiveness
  • productivity
  • R&D
  • technology development
  • innovation management
  • best practices
  • innovation culture
  • outsourcing

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