Innovation Management Essay

Submitted By prasanthjohn87
Words: 1348
Pages: 6

ASSESSMENT

ON

BU7030 MANAGING INNOVATION

Introduction

INNOVATION IS MAINLY ACKNOWLEDGE BY INDUSTRY AND ACADEMICS AS A VERY IMPORTANT COMPETETIVE CATALIST FOR ANY ENTERPRISE WHICH LOOKS FOEWARD FOR COMPETETIVE SERVIVE AND GROW.ITS NOT THE INVENTION PART WERE THE PROBLEM LIES OR THE INNOVATIVE IDEAS, IT LIES IN THE SUCCESFULL CREATION OF IDEA IN CREATING PRODUCT IN THE MARKET.INNOVATION PROCESS MODELS HAVE EMERGED IN SIX GENERATIONS FROM SIMPLE LINEAR MODELS TO INCREASINGLY COMPLEX INTERACTIVE MODELS. Schumpeter (1934) defined innovation broadly to include:
* The introduction of a new goods,
* The introduction of new method of production

TECHNOLOGY PUSH FIRST GENERATION
MARKET PULL SECOND GENERATION
COUPLING MODEL THIRD GENERATION
INTERACTIVE MODEL FOURTH GENERATION
NETWORK MODEL FIFTH GENERATION
OPEN INNOVATION SIXTH GENERATION

Technology Push & Market Pull models basically explain about innovation either being pushed by technology and science or pulled by market needs.
Coupling Model understands the influencing power of technological capabilities and market requirements within the structure of the innovating firm.
Interactive Model – This model looks at the Innovation process as the corresponding activities across the directorial functions.
Network Model – It was the result of an attempt to detail complexity of the innovation model. Innovation happens within the network of internal and external stakeholders.
Open Innovation- In this type of Innovation network models of the innovation is focused on internal generation of ideas and development, External and Internal ideas can be formed together to advance the development of new technologies.

For this assignment I am going to do my analyze on Samsung. Samsung have gained a separate segment of valuable customers in the market but somewhere down the line always struggle to compete with its rivals especially Apple. I have applied Teece’s Model to analyze the firms stand. From my understanding what I have come up with is Samsung is Good at Imitator but not good Innovator were Apple have got lead and have covered that space which Samsung will take its quite tough struggle to get back its position. Also if we look it through S Curve Model, It will show that There’s a limit for the technology advance stage and afterwards it got to move to the other level were it’s a new challenge and medium. The Success of Samsungs brand comes through its Smartphone’s Launch. Their technology is on the tip of the edge and the rivals are competing and challenging day by day. Innovation plays a very crucial and very important role here. Importance should be for Innovation here otherwise they will be dusted to earth and knocked out for sure. After the launch of Samsung Galaxy – we have noted that Samsung have gained high valued customers choice as well. Now Samsung is in a position were they are literally challenging Apple & Sony who have been producing these products prior to Samsung. However this competition have lead to a very healthy race were it has rewritten the meaning of Innovation. If we look at the Smartphone we will get its glimpse. From Health care features to Business & Travelling. From photography to music, from videos to live shows its all accessible on this Small Smartphone. Technology is moving in a very fast pace that every product launched is beaten with is predecessors within a very short time.
1. http://www.samsung-mobiles.net/history-of-samsung.html

S.W.O.T Analysis on Samsung
Strength
1. Among…