1. Models of Innovation

2. Figure 1.3 The popular view of science

3. Different schools of thought
Traditional arguments centered around two schools of thought:
Social deterministic school: innovations influenced by demographic changes, economic influences and cultural changes
Individualistic school: innovations are a result of unique individual talents.
What drives innovation?
Two schools of thought
Market based view
Resource based view

4. MODELS OF INNOVATION Serendipity
Many studies of historical cases of innovation have highlighted the importance of the unexpected discovery.
The role of serendipity or luck is offered as an explanation
Louis Pasteur says, “ chance favours the prepared mind”.

5. Linear models of innovation
US economists after ll world war championed the liner models of innovation
The recognition that innovation occurs through the interaction of science base , tech development and needs of the market was a significant step forward.

6. Figure 1.4 Conceptual framework of innovation

7. Figure 1.5 Linear models of innovation

8. Figure 1.6 The simultaneous coupling model

9. Figure 1.7 Interactive model of innovation
Source: Adapted from R. Rothwell and W. Zegveld (1985) Reindustrialisation and Technology, Longman, London.

10. Figure 10.2 Chesbrough’s open innovation approach

11. Table 10.1 Contrasting ‘closed innovation’ principles and ‘open innovation’ principles
Source: Chesbrough, H. (2003) Open Innovation: The new imperative for creating and profiting from technology, HBS Press, Boston, MA.

12. Table 1.6 The chronological development of models of innovation

13. Figure 1.8 Disruptive innovations

14. Table 1.7 Explanations for innovative capability

15. Table 1.8 Studies of innovation management