Study note on innovation strategy

Study note on innovation strategy

References with associated extracted contents

Sharmelly, R. 2017. "Crafting a winning innovation strategy" Strategic Direction 33(3), Emerald: 8-11.

"Over recent years, the nature of innovation has changed in three distinct ways. First, consumers have become increasingly involved in innovation. .... Second, technological fusion has shortened product life cycles. .... Third, ecosystems are emerging, pushing the frontier of new types of innovation. An ecosystem is a diverse array of interdependent parties comprising companies, entrepreneurs, venture capitalists and research organizations. They seek to create and use new business ideas and value";

"Regarding innovation, top organizations create organizational structures and functions implementing the following strategies. Balancing between innovation objectives and business objectives....  Adopting open innovation...  Forming dedicated innovation teams...  Creating a culture of innovation...  A strong and clear focus on innovation...  Emphasis on fostering and promoting an innovation culture..... Agility";

Dobni, C.B., M. Klassen and W.T. Nelson. 2015. "Innovation strategy in  the US: top executives offer their views" Journal of Business Strategy 36(1): 3-13.

"Innovation leads to the introduction of new products or services and the creation of new value altogether. Organizations need innovation to meet ever-changing demands of stakeholders or to out-compete rivals in an industry. Innovation has many faces and ranges from a random event to new industries. Companies that “get it” prove to be industry leaders. Not only do they create new value on a consistent basis, they often redefine the competitive landscape";

"A major barrier to innovation is the absence of a well-articulated innovation strategy that is communicated to employees. Innovative organizations that excel have a clear innovation strategy; they have created and communicated innovation goals and objectives and have aligned these with their strategic agenda. This alignment has advanced the innovation agenda by developing planning processes and tools that fast-track innovation projects and plans so that decision-making does not become bogged down";

Aagaard, A. 2012. "The Contribution of Innovation Strategy Development and Implementation in Active Facilitation of Pharmaceutical Front End Innovation" Systemic Practice and Action Research 25(6) December: 457-477.

"During the last decades extensive research has been conducted in the field of new product development (NPD), and a growing body of research suggests that a firm should proactively manage and optimize the front end innovation (FEI) to boost the chances of developing successful innovations (Reinertsen 1999; Boeddrich 2004). A company’s ability to stimulate innovation is highly dependent on the stock of potential ideas, which are available to feed the NPD process (Brennan and Dooley 2005)";

Guan, J.C., R.C.M. Yam, E.P.Y. Tang and A.K.W. Lau. 2009. "Innovation  strategy and performance during economic transition: Evidence in Beijing, China" Research Policy 38, Elsevier: 802-812.

"Innovation strategy is fundamental to the success of innovation in manufacturing firms (Gary, 2005; Burgelman et al., 2001). In a highly competitive environment, an enterprise’s ability to keep up with the pace of innovation and maintain ongoing innovation efforts are critical to its survival and growth. However, the maintenance, acquisition and evolution of an enterprise’s capabilities depend on its innovation objectives and the resultant innovation strategy (Burgelman et al., 2001)";

"Innovation strategies can be characterized in terms of technological leadership or followership, market position and timing of market entry, and the scope and rate of new product development (Burgelman et al., 2001). To facilitate and support its technological innovation strategies, an organization needs a special mix of assets or resources that encompasses technology, products, processes, knowledge, experience and organization (Guan and Ma, 2003; Burgelman et al., 2001)";

Ndubisi, N.O., C.M. Capel, G.C. Ndubisi. 2015. "Innovation strategy and performance of international technology services ventures: The moderating effect of structural autonomy" Journal of Service Management 26(4), Emerald: 548-564.

"Brown and Eisenhardt (1995) delineated two major streams of innovation research – innovation diffusion (across organisations, industries and nations) and related issues (O’Neill et al., 1998), and organisational structure, processes and people’s influences on new product/service development and marketing (Zirger and Maidique, 1990). The first school of thought defines innovation as a firm’s first time usage of a technology, strategy, or management practice, notwithstanding the rate of diffusion of the same innovation in the industry or market (Nord and Tucker, 1987). To the second school, an innovation is a new product that a firm has made for the market or commercialisation of an invention (Myers and Marquis, 1969), including upgrades, modifications, and extensions of existing goods and services that may be new to the firm, the market, or the world";

Ko, Y.J. and Ma, L. 2017. "Forming a firm innovation strategy through commitment-based human resource management" The International Journal of Human Resource Management [DOI: 10.1080/09585192.2017.1308415].

"The literature suggests that a firm innovation is positively related to commitment- based HRM (CHRM) practices (Ceylan, 2013; Collins & Smith, 2006) that embody the long-term relationships with hiring employees based on knowledge and developing their knowledge internally (Lepak & Snell, 2002). Employees’ knowledge and organizational management of it, as key resources, contribute to firm innovation (Chen & Huang, 2009; Detert & Burris, 2007). CHRM encourages employees to commit their knowledge to solving the problems related to innovation by taking risks".