The sources of innovation can be found rather between companies, universities, laboratories, suppliers and customers than inside them Graf, There are several reasons why innovation is so important for the growth of economies and societies.
Therefore companies need more than ever a competitive advantage for their strategies to survive and succeed, since industrial structures are changing and products are turning more Bachelor thesis open innovation and more difficult to differentiate.
On one hand the technology and environment are constantly changing and they do it rapidly. Innovations can be classified into incremental innovation, market innovation, technological innovation or radical innovation, depending on the previously existence of the technology and the market in which the innovation is being made.
An unexpected success or failure in a company can be a sign Bachelor thesis open innovation there is a market or a segment, which is not being exploited or that the consumers are changing their preferences.
Finally, the radical innovation refers to the highest degree of innovation where a totally new technology generates a new Bachelor thesis open innovation demand, which is the case of the transition from horses to cars.
It can be clearly observed in the following graph. People interact with other users and can give their opinion on everything whenever they want to. Nevertheless this product will be an innovation only if it fulfils the demands of a specific market and creates value for the consumers.
There are always more competitors entering Bachelor thesis open innovation market and new products are constantly being launched. For starters, Web 2. The fourth source is industry and market structures, followed by [ It is through social communities that people interact mainly with each other by writing, commenting and sharing posts, comments, articles, photos, videos and applications among other things.
The second source relates to the incongruities or discrepancies between what something should be and what it actually is. There is a very important difference between an innovation and an invention.
Furthermore, innovation not only creates and accelerates growth, increases both the productivity and economic wealth but it can also be used for reducing the environmental damage. According to Peter F. But if we go deeply into its meaning, innovating is not only creating something new but rather creating something new that is made useful for people McKeown, Innovation has become a very popular concept because of its vital importance.
On the other hand the customers are every day more demanding; they expect more from the companies, higher quality, lower prices and increased customization.
Nevertheless many innovations originated from a bright idea and creative minds. The technological innovation refers to a new technology in an existing market, for instance the mp3 player in the already existing electronic market where compact discs, minidiscs and cassettes were previously commercialized.
Innovation is a positive change that can be reflected in new products, services, processes and even business models. The first source is the unexpected, which can be an unexpected success, an unexpected failure or even an unexpected outside event.
An incremental innovation is based on a developed technology used in an existing market, for instance a new digital camera with better quality and more megapixels.
Drucker there are mainly seven sources where innovations come from. The third source is the process need, where an innovation can be created by supplying a missing link.
In other words, an innovation is the commercialization of an invention. As a consequence of globalization, economies are removing commercial and political barriers in order to facilitate the trade worldwide. Particularly incongruities in economic realities of an industry, between the perceived and actual customer values and expectations or within the rhythm of a process can open the way to an innovation.
Such was the case of the pharmaceutical salesman William Connor who added a preservative to an already discovered enzyme in order to be able to maintain it under refrigeration and so improved the process of cataract surgery.
Successful companies like Apple, Google, Microsoft, IBM and Toyota understand that they need to innovate in order to become and remain leaders in the market, so its shows the ranking of the 25 Most Innovative Companies in from Bloomberg Business Week, where these companies occupy respectively the first five places.
Types of Innovation Different types of innovation require different strategies and thus this classification. An invention is the process of concreting an idea and turning it into reality, which can be a product.
A market innovation is for example when a company decides to launch a product that is already commercialized somewhere else in a new country or region where did not exist. Once having understood the importance of innovation this paper will take you through the different sources of innovation and the open innovation model, so it makes it easier to follow the relation and the influence social communities have on them.Bachelor!thesis!
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User Innovation, Open Innovation Processes, Commercial Open Source Software, Patent Infringements; Bachelor Thesis. Successful participation: Empirische Methoden and Technology and Innovation Management: Applications for a final thesis at the Chair of Technology and Innovation Management can be submitted at any time.
Every two. OPEN INNOVATION IN PRACTICE: Based on two case studies from companies in the automotive and telecommunication industry.
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innovation practices as a path to business growth performance: a study of small and medium sized firms in the emerging uae market by yahya darwish yahya al ansari. FAKULTAT F¨ UR INFORMATIK¨ der Technischen Universitat M¨ unchen¨ Bachelor’s Thesis in Informatics Open Innovation in Game Design Using the.Download