Exploring the role of innovation assessment in business strategy, this content delves into its classifications, advantages, and essential criteria. It examines different types of assessments, such as outcome-based, process-based, and value-driven, and their importance in strategic planning and decision-making. Theoretical frameworks like Schumpeter's and Christensen's theories provide insights into economic development and disruptive innovation, while innovative business models and IP protection are discussed for value creation and competitive edge.
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Innovation assessment evaluates the effectiveness and potential impact of a company's innovative activities
Outcome-based Assessment
Outcome-based assessments measure concrete results such as market share growth and financial performance
Process-based Assessment
Process-based assessments scrutinize the efficiency and effectiveness of the innovation processes within an organization
Value-driven Assessment
Value-driven assessments consider the broader impact of innovation, including its financial, social, and environmental contributions
Effective innovation assessment requires clear criteria such as feasibility, value, strategic alignment, and novelty to evaluate the success of innovation initiatives
Schumpeter's theory emphasizes the role of entrepreneurial innovation in economic growth through a process of 'creative destruction.'
Rogers' theory examines how new ideas and technologies spread within a society
Christensen's theory suggests that smaller companies can displace established incumbents by targeting neglected market segments with more appropriate and affordable products or services
Business models outline the mechanisms for creating, delivering, and capturing value
Platform Model
The platform model facilitates connections among users
Subscription Model
The subscription model offers ongoing access for a periodic fee
Freemium Model
The freemium model provides basic services at no cost with premium features available for a fee
Pay-as-you-go (PAYG) Model
The PAYG model allows users to pay only for the services they consume
Strategic management involves examining an organization's approach to innovation and utilizing various protection measures
Open Innovation
Open innovation involves collaborating with external entities
Closed Innovation
Closed innovation relies on internal resources
Disruptive Innovation
Disruptive innovation introduces market-changing products or services
Incremental Innovation
Incremental innovation involves making small-scale improvements
IP protection mechanisms such as patents, trademarks, copyrights, and trade secrets are crucial for securing innovative ideas and maintaining a competitive advantage
00
Innovation includes the creation of new ______, ______, or ______ that lead to improvements or additional value.
ideas
methods
products
01
A comprehensive ______ assessment allows companies to leverage changes caused by ______ ______, consumer shifts, and market dynamics.
innovation
technological
progress
02
Outcome-based assessment focus
Measures tangible results like market share growth, financial performance.
