1. Explain why it is necessary to view innovation as a management process.

The Innovation management is a structured process of generating, capturing, discussing

and improving, organizing, evaluating and prioritizing valuable insight or alternative
thinking that would otherwise not have emerged through normal processes. Innovation
management platform can help your organization to capture ideas and serve as a
discussion platform generating solutions to business challenges or new product launch.
Encourage your employees to ideate more by rewarding the best of their innovative
spirits by carving a sustainable innovation pool supporting your business initiatives.

2. What is wrong with the popular view of innovation in which eccentric scientists develop
new products?

This view contributes to a misleading image of the innovation process because a

complex phenomenon is simplified thus causing an immense harm to the understanding
of science and technology

3. How does an ‘open innovation’ approach help firms?

The open innovation paradigm there is an important flow of external knowledge into the
organization which turns into projects in co-operation with external partners and causes
the purchase and incorporation of external technologies. At the same time, the
innovations generated within the company can be sold as technology and/or industrial
property to other organizations since either they are not

4. What is the difference between an unsuccessful innovation and an invention?

The difference between unsuccessful innovation from invention is that; unsuccessful

innovation talks about being weak changes, discoveries, development of new products
that does not goes progress in the long run while invention refers to the creation of new
discoveries of products or devices

5. To what extent do you agree with the controversial view presented by the chairman of
Sony?

Sony’s dominance in the 80’s and 90’s could only be followed by their massive fall from
grace as competitors like Apple and Samsung and then unknown players like GoPro and
Sonos dismantled Sony’s grip on consumer electronics, product by product. On the past
years while Sony was once the hardware maker for TVs, phones and everything
between, in the new century which was led by software first, Sony suddenly found itself a
non-player and, in the process, lost not only countless amounts of money, but the
backing of consumers as well.

6. Show how the three forces shaping the twenty-first century, according to Salkowitz
(2010) – youth, entrepreneurship and ICT – are captured in the cyclical model of
innovation.

First, Salkowitz argues that within the fastest growing economies such as the BRICI
countries (Brazil, Russia, India, China and Indonesia), the young represent a much
higher proportion of the population than is typical in old world western counties in Europe
and the USA. It is this new generation, he suggests, that will deliver the new fast-growing
entrepreneurial firms of the future. Second, independent evidence from firms such as the
 Boston Consulting Group confirm that the information and communication technology
(ICT) revolution is continuing to cause huge changes in the way people live and
consume services. And, significantly because this new generation has not been brought
up on mainframe computers and PCs, Salkowitz argues they are not hampered in their
mindsets and the way they think and develop new ideas. They have grown up with
mobile devices and it is these that will provide the foundation for entrepreneurship in the
twenty-first century. It is this fresh young cast of entrepreneurs

7. Explain Sergey Brin’s (co-founder of Google) comment that coming up with an idea is
easy, but innovation is difficult.

The statement by Sergey Brin, co-founder of Google, confirms that we need to view
innovation as a management process. The preceding sections have revealed that
innovation is not a singular event, but a series of activities that are linked in some
way to the others. This may be described as a process and involves a response to
either a need or an opportunity that is context dependent, a creative effort that, if
successful, results in the introduction of novelty and the need for further changes.