The Innovation Process

Paper Summary:

This paper explains that the innovation process requires the coordination or interaction of in-house R&D, marketing, finance, manufacturing, materials purchasing, information systems, distribution, and the external "network" to get any product or service to market. The author points out that few companies can vertically integrate sufficiently to produce all the knowledge necessary to create innovative new products on their own; therefore, loose coupling with other organizations is paramount. The paper describes modern 'loosely coupled' innovation processes, which are used in several types of companies, including the development of aircraft engine control systems, an example of a multi-technology, multi-component product.

Table of Contents
Introduction
Key Characteristics
Interactivity
Loosely Coupled Organization
Opportunity
Case Studies
Managing the Result of Innovation: Rollovers
Conclusion

From the Paper:

"Another failure was the introduction of the Osborne II to replace the Osborne I, the first laptop computer on the market. The company's founder, Adam Osborne, announce the new produce in late 1982. In 1983, however, the company experienced technical problems on the Osborne II, pushing the delivery schedule back. By that time, Osborne I was selling slowly-arguably because customers were awaiting the Osborne II-and the company developed cash flow problems and Osborne filed for bankruptcy in September 1983."

More papers on The Innovation Process:

• Analytical Essay # 142394 : "Innovation and Entrepreneurship: An Analysis"
• Term Paper # 112586 : "Process and Innovation"
• Research Paper # 149685 : "Creating a Competitive Advantage at Tesco Through Innovation"

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