Pre-examination to help to develop the course Spring 2016

2 Teaching philosophy “Creating a Desire to Learn More”

3 Question 4: Define the words “innovation” and “invention”!

Technological Innovation 4

Creation of a product, service, or process that is new to the organization Not necessarily new to the world Introduction into the marketplace either by utilization or by commercialization 5

Technological Innovation “the initiation of the technical idea, the acquisition of the necessary knowledge, its transformation into usable hardware or procedure and its introduction into society, and its diffusion and adoption to the point where its impact is significant.” Bright, J. R. (1969) 6

Innovation “the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. This is accomplished through more effective products, processes, services, technologies, or ideas that are readily available to markets, governments, and society. The term innovation can be defined as something original and, as consequence, new that "breaks into" the market or society.” Wikipedia. The Free Encyclopedia (2014) 7

Innovation "something original, new, and important—in whatever field—that breaks in to (or obtains a foothold in) a market or society.“ Frankelius, P. (2009), Questioning two myths in innovation literature, Journal of High Technology Management Research, Volume 20, Number 1, pages 40–51. 8

Technological Invention 9

Creation of a new concept or a novel technology New to the world Most inventions have followed scientific discoveries Can be a product, process, or system 10

Invention: Dictionary Definition “a new device, method, or process developed from study and experimentation. (the phonograph, an invention attributed to Thomas Edison).” American Heritage Dictionary of English Language 11

Invention “a new, useful process, machine, improvement, etc., that did not exist previously and that is recognized as the product of some unique intuition or genius, as distinguished from ordinary mechanical skill or craftsmanship.” U.S. Patent Law 12

Innovation versus Invention Innovation is a process; invention is an event Inventions are not common. They can precede a number of innovations The bottom line of innovation is the market - only few inventions reach the marketplace and even fewer are able to become successful in the marketplace 13

Innovation versus Invention “Innovation differs from invention in that innovation refers to the use of a better and, as a result, novel idea or method, whereas invention refers more directly to the creation of the idea or method itself.“ Wikipedia. The Free Encyclopedia (2014) 14

15 Question 5: List general principles of different generations of R&D management!

1 st Generation R&D Management Technology-push thinking No explicit link to business strategy “Develop the technology first and link it to the business later” “Let the general and functional managers worry about the business aspects and leave technology to the technologists” 16

2 nd Generation R&D Management Perceived failure of technology-push thinking Move in management thinking and practices towards ‘market focus’ Matrix management of projects Combined business insight and R&D insights at project level 17

3rd Generation R&D Management Portfolio management: not only doing R&D projects effectively but also choosing the right R&D projects Corporate-wide integration of R&D and technology development to business strategies – Serving the needs of existing businesses – Serving the corporate level needs – Identifying and exploiting technological opportunities Combined R&D and business insight 18

4 th Generation R&D Management Ideas, concepts, and capabilities are the critical resources. From product focus to total concept focus Integrating both explicit and tacit knowledge Learning from and with customers Enables the company to grasp weak signals to R&D earlier Involving lead customers and suppliers Parallel activities by cross-functional teams 19

5 th Generation R&D Management Electronic toolkits for flexibility, speed, and efficiency Ability to control product development speed is more and more a core competence A list of various current best practices in R&D 20

6 th Generation R&D Management Ever increasing complexity of technologies and products Re-focus on the research part of R&D Multi-technology base for products Network-based ecosystem 21

Thank you! 22