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 language | English |
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Title of host publication | VTT Intelligence Forum 2007 |
Subtitle of host publication | Tuottavuus ja T&K-strategia murroksessa. Miten vastata haasteeseen? |
Place of Publication | Espoo |
Publisher | VTT Technical Research Centre of Finland |
Pages | 41-62 |
ISBN (Electronic) | 978-951-38-6324-1 |
ISBN (Print) | 978-951-38-6323-4 |
Publication status | Published - 2007 |
MoE publication type | B3 Non-refereed article in conference proceedings |
Event | VTT Intelligence Forum 2007 : Tuottavuus ja T&K-strategia murroksessa. Miten vastata haasteeseen? - Espoo, Finland Duration: 3 Oct 2007 → 3 Oct 2007 |
Publication series
Series | VTT Symposium |
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Number | 250 |
ISSN | 0357-9387 |
Seminar
Seminar | VTT Intelligence Forum 2007 |
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Country/Territory | Finland |
City | Espoo |
Period | 3/10/07 → 3/10/07 |
Keywords
- globalization
- global economy
- competitiveness
- productivity
- R&D
- technology development
- innovation management
- best practices
- innovation culture
- outsourcing