Subject category:
Production and Operations Management
Published by:
Darden Business Publishing
Version: 15 April 2024
Length: 6 pages
Data source: Published sources
Share a link:
https://casecent.re/p/197975
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Abstract
This technical note provides a framework on innovation as a process ('how'), rather than just an outcome ('what'). It explains that innovation is a set of activities, incentives, and metrics that, when structured and implemented effectively, maximize the potential for novel ideas to be transformed into valuable solutions. By framing innovation as a process, decision-makers and leaders within organizations can actively manage this process to create new products, services, and business models. This note introduces insights from the operations management and new product development perspective as well as provides actionable levers to identify and manipulate the activities, incentives, and metrics that support the creation of new solutions.
About
Abstract
This technical note provides a framework on innovation as a process ('how'), rather than just an outcome ('what'). It explains that innovation is a set of activities, incentives, and metrics that, when structured and implemented effectively, maximize the potential for novel ideas to be transformed into valuable solutions. By framing innovation as a process, decision-makers and leaders within organizations can actively manage this process to create new products, services, and business models. This note introduces insights from the operations management and new product development perspective as well as provides actionable levers to identify and manipulate the activities, incentives, and metrics that support the creation of new solutions.