Article
Innovation Management: A Needs-Centered Optimal Joint Investment Approach
2017 Portland International Conference on Management of Engineering and Technology (PICMET)
(2017)
Abstract
With exponential advances in technology innovations, effective management of innovation has become imperative. Existing literature on innovation management has largely focused on managing product, project, and operations or on motivating creativity in the innovation process. This paper presents an alternative integrated and systematic approach that focuses on managing the needs of all major participants of the innovation process: the idea generator, the core team, the supporter, and the adopter, to achieve an optimal joint investment in the development and implementation of a creative idea. Based on this approach, innovation management consists of three key elements: (1) productive creativity that uses the understanding of needs to motivate idea generation that will effectively respond to the needs of the other major participants; (2) impactful marketing that uses the understanding of the needs to effectively communicate and persuade the acceptance of the creative idea by the other major participants; and (3) adaptive organization that uses the understanding of the needs to develop flexible and sustainable structure and culture of the organization to effectively adapt to changes in the environment as well as challenges to the organization as it grows and matures with time. For each key element, the paper outlines the basic concepts, specific tools, and case examples for its successful accomplishment, and explores future areas of research.
Keywords
- Investment,
- Technological innovation,
- Organizations,
- Creativity,
- Generators,
- Technology management,
- ergonomics,
- innovation management,
- investment,
- production management,
- product management,
- need-centered optimal joint investment approach,
- productive creativity,
- technology innovations,
- idea generation,
- creative idea,
- idea generator,
- systematic approach,
- alternative integrated approach,
- innovation process,
- motivating creativity
Disciplines
Publication Date
July, 2017
DOI
10.23919/PICMET.2017.8125358
Publisher Statement
July 9-13, 2017
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Citation Information
Oliver S. Yu. "Innovation Management: A Needs-Centered Optimal Joint Investment Approach" 2017 Portland International Conference on Management of Engineering and Technology (PICMET) (2017) Available at: http://works.bepress.com/oliver_yu/47/