Strategic Management

Innovation

All Copyrights:
Professor Safal Batra
Strategic Management and Entrepreneurship
Indian Institute of Management Kashipur
23. April. 2023
 What is Innovation?
• Innovation?
• Invention?
• Ideation?
• Implementation?
• Improvisation?
 Stages of Innovation
From creativity to execution
From execution to commercialization

Ideation Invention Innovation

Innovation = Invention + Commercialization
 Six kinds of innovation
Product Innovation
Process Innovation
Service Innovation
Market Innovation
Managerial Innovation
Business Model Innovation
 Degrees of Innovation
Radical or Breakthrough

Small or Incremental
Building a Culture of Innovation in your
Organization: Some Crucial Aspects
What kind of goals will be you set up for your
teams?
– Easily Achievable
– Fairly difficult
– Extremely difficult
– Almost unachievable
What kind of rewards will you pay to your
teams, in which order?
– A. Fixed Rewards
– B. Incentives
– C. Recognition

– Order ______________
What kind of culture do you need to establish
for innovation?
A. Extreme Autonomy
B. Completely Constrained
C. Autonomy within Boundaries
Perceptions of People can be a source of
Innovation
True/ False?
Vast majority of profits are created in
organizations through _______ innovations.
Thank You 