MGT 207- INTRODUCTION TO INNOVATION, IP

MANAGEMENT AND ENTREPRENEURSHIP

Dr. S. Dinesh
Assistant Professor
School of Management
SASTRA Deemed university ‘
Thanjavur
 UNIT 1
• Innovation: Introduction – Importance of Innovation – Definitions – Types of
Innovation: Recognising innovation in products and services; processes and
procedures; management practices; marketing and distribution strategies and
techniques
• – Characteristics of Innovation: Timing; Radicalness; speed – Knowledge
Management: Internal Knowledge generation – Importing knowledge from
outside
• Class Discussion- Is innovation manageable or just a random gambling
activity?
 UNIT - II
◦ Building an Innovative Organization: Creativity in organizations
◦ – Building organizational environment – Need Analysis: Questionnaires, Online
tools, SWOT analysis;
◦ Technology watch; Focus group; Desk Research – Innovation Management
Process – stages of innovation
◦ - planning and financing Innovation projects – Innovation and organization:
Creating new
◦ products and services, Exploiting open innovation and collaboration,
◦ Use of innovation for starting a new venture;
◦ Class Discussion- Innovation: Co-operating across networks vs. ‘go-it-alone’
approach
 UNIT - III
◦ Entrepreneurship: Opportunity recognition and entry strategies – Effectuation
◦ – Design thinking – Lean Start-up – Developing Business Model –
Entrepreneurship as a Style of
◦ Management – value proposition - Maintaining Competitive Advantage –
◦ Financial Plan: Start up, operating and variable costs and Project appraisal: NPV,
IRR, BCR techniques -
◦ Projections and Valuation Stages of financing: Debt, Venture Capital and other
forms of Financing.
◦ Entrepreneurship- Financial Planning: Break even analysis: Profit volume ratio,
selling price determination, cash flow statement analysis, Ratio analysis
 UNIT - IV
◦ Intellectual Property Rights: Introduction and the economics behind development of
IPR:
◦ Business Perspective - IPR in India – Genesis and Development - International Context
–
◦ Use of IPR to protect Innovation - Concept of IP Management, Use in marketing
Patent- Procedure,
◦ Licensing and Assignment, Infringement and Penalty - Trademark- Use in marketing,
example
◦ of trademarks- Domain name - Geographical Indications- What is GI, Why protect
them? -
◦ Copyright- What is copyright - Industrial Designs- What is design? How to protect?
Class
◦ Discussion- Major Court battles regarding violation of patents between corporate
companies
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Different types of Innovations
◦ Product innovation
Axe, Indulekha, Kellogg's, Colgate, Lizol, Mortein, VIP, VLCC and Max Life Insurance
Process innovation
◦ Robotic process automation
 4 P’s of Innovation
◦ • ‘product innovation’ – changes in the things (products/services) which an organization
◦ offers;
◦ • ‘process innovation’ – changes in the ways in which they are created and delivered;
◦ • ‘position innovation’ – changes in the context in which the products/services are
◦ introduced;
◦ • ‘paradigm innovation’ – changes in the underlying mental models which frame what the
organization does.
Management Practices
• Management is a multi-purpose organ that
manages a business, manages a manager and
manages workers and work. - Peter Drucker
 Functions of Management
• Planning
• Organising
• Staffing
• Directing
• Controlling
• Reporting
• Budgetting
 Marketing Strategies
• Marketing mix
• Content Marketing
• Social media marketing
• Referral Programmes
• Search engine optimisation
• Internet marketing
• Point of Purchase (PoP) marketing
• Relationship Marketing
 Distribution strategies

• Distribution strategy is a comprehensive

process of making products and services
available to businesses and target customers
for their use.
 Objectives of distribution strategies
• Movements of Goods
• Availability of Goods
• Protection of Goods
• Cost Reduction
• Customer Satisfaction
 Types of distribution strategies
• Direct Distribution Strategy
• Indirect Distribution Strategy
• Intensive Distribution Strategy
• Exclusive Distribution Strategy
• Selective Distribution Strategy
Innovation as a Knowledge-based
Process
◦ Creating new possibilities through combining different knowledge sets.
◦ Form of knowledge about what is technically possible or what particular configuration of this would
meet an articulated or latent need.
◦ Such knowledge may already exist in our experience, based on something we have seen or done before.
◦ It could result from a process of search – research into technologies, markets, competitor actions, etc
CHARACTERISTICS OF INNOVATION
Innovation as a knowledge-based process
◦ Innovation is about knowledge – creating new possibilities through
combining different knowledge sets.
◦ These can be in the form of knowledge about what is technically
possible or what particular configuration of this would meet an
articulated or latent need.
◦ Such knowledge may already exist in our experience, based on
something we have seen or done before.
◦ Or it could result from a process of search – research into
technologies, markets, competitor actions, etc.
Knowledge Management
◦ “Knowledge Management is the discipline of enabling
individuals, teams and entire organizations to collectively
and systematically create, share and apply knowledge, to
better achieve their objectives.“
◦ Ron Young, CEO/CKO Knowledge Associates
International
Knowledge management
Knowledge Management Cycle/ Process
◦ Creates knowledge through new ways of doing things
◦ Identifies and captures new knowledge
◦ Places knowledge into context so it is usable
◦ Stores knowledge in repository
◦ Reviews for accuracy and relevance
◦ Makes knowledge available at all times to anyone
Benefits of Knowledge Management
◦ Improve Quality Of Service To Users
◦ Improve User Satisfaction
◦ Increase Adoption Of Self Service
◦ Higher First Call Resolution Rates
◦ Reduce Time To Diagnose Incidents And Problems
◦ Reduction In Training Time And Costs
◦ Faster Adoption Of New Or Changed Services
◦ Increase Responsiveness To Changing Business Demands
 Two types of knowledge
◦ Documented information that can facilitate action
◦ Know-how & learning embedded within the minds people.
Explicit knowledge
◦ Formal or codified
◦ Documents: reports, policy
manuals, white papers, standard
procedures
◦ Databases
◦ Books, magazines, journals
(library)
Implicit (Tacit) knowledge
– Informal and uncodified
– Values, perspectives & culture
– Knowledge in heads
– Memories of staff, suppliers and
vendors
◦ Explicit knowledge
◦ Objective, rational, technical
◦ Policies, goals, strategies, papers, reports
◦ Codified
◦ Tacit knowledge
◦ Subjective, cognitive, experiential learning
◦ Highly personalized
◦ Difficult to formalize