Models of Innovation

Models of Innovation

Figure 1.3The popular view of science

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

MODELS OF INNOVATIONSerendipity • 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”.

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 marketwas a significant step forward.

Figure 1.4 Conceptual framework of innovation

Figure 1.5 Linear models of innovation

Figure 1.6 The simultaneous coupling model

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

Figure 10.2 Chesbrough’s open innovation approach

Table 10.1Contrasting ‘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.

Table 1.6The chronological development of models of innovation

Figure 1.8 Disruptive innovations

Table 1.7 Explanations for innovative capability

Table 1.8 Studies of innovation management

Models of Innovation