Towards an integrated framework for managing the process of innovation.
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| Title: | Towards an integrated framework for managing the process of innovation. |
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| Authors: | Tao, Lan1 (AUTHOR), Probert, David1 (AUTHOR), Phaal, Rob1 (AUTHOR) |
| Source: | R&D Management. Jan2010, Vol. 40 Issue 1, p19-30. 12p. 2 Diagrams, 7 Charts, 3 Graphs. |
| Subjects: | Innovation management, Corporate growth, Creative ability in business, Financial risk, Corporations |
| Abstract: | Innovation has become a major driving force for business growth and success. However, successful and sustained innovation represents challenges rooted in technological uncertainties, ambiguous market signals and embryonic competitive structures. Notably, in the management of innovation, many challenges still remain in both theory and practice, which demand improved managerial approaches. In this context, the development of a practical and explicit management framework for the process of innovation could be beneficial. This research sets out to develop the concept of ‘Innovation Readiness Levels’ (IRL), an explicit model for managing the process of incremental innovation. Basically, IRL is a framework depicting the development of an innovation over its lifecycle. Within the emerging framework proposed in this paper, five key aspects that determine the effective implementation of innovation are identified. The lifecycle of innovation is then divided into six phases, and for each phase, associated assessment aspects and criteria are identified. By providing better monitoring and control, IRL is intended to help implement innovation over the lifecycle more effectively. It is also expected to apply as a management tool, for which guidance of use is suggested. [ABSTRACT FROM AUTHOR] |
| Copyright of R&D Management is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) | |
| Database: | Engineering Source |
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