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MPU3242 - INNOVATION MANAGEMENT

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Organizational

infrastructure includes capability, time, customers and suppliers.

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Ideas

need to be framed in some acceptable manner in order to be communicated to

others.

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Innovation

does not take place by some well-defined linear process.

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An

invention is always a better product than an innovation.

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Creativity

is a mental process involving the generation of new ideas or concepts, or new

associations between existing ideas or concepts.

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Many

organizations choose to patent their invention because they want to disclose

all the information regarding the invention to others.

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Innovation

is the act of genius in creating a new concept for a potentially useful device

or service.

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Use

of automation in manufacturing settings can result in an innovation.

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Models

and prototypes are examples of concepts.

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Resources

and capabilities needed for innovation must come from inside the organization.

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