Question

3.1 Innovation can be seen as a term used to describe a range of factors, some of which are under the control of the organisation, some that can be influenced and some that are outside the influence of the organisation. The extent to which the organisation can combine and turn these factors to its advantage defines the competitive nature of the organisation. Thus, the ability to control and correctly utilise the variety of factors through a process of combination and alignment defines the innovation orientation of an organisation.

Discuss the formats of innovation under each of the following headings: Social; Political and Philosophical.

3.2 One approach to managing innovation is through a New Product Development (NPD) framework. The goal of an NPD framework is to bring products to the market in on time and to optimise business results by reducing cycle times and costs. Identify:

3.2.1 The components of an NPD framework.

3.2.2 The reasons behind successful NPD teams

3.2.3 The benefits of implementing a NPD process

Answer 1

Date: _ Page: Formats of innovation under the folloeding headling Social: Political and ph Social innovation is a developing paocess and deploying effective 'solutions to challanging and offen_Dyslemálic_solid and environmental issues in Support of social progress . It often requires the aclive collabolalion et constituents across gevenbodent, business ond the non-profit world. Political innovation consists of the restoration of political 0 imagination through the proless of re. constructing the social fabric. Democracy is the political system I That makes this conslouction possible, Philosophical innovation is individualily ainderstood as authencity. This openness is the basis for cooperative rather than

Competitive interaction. The fundamental themes of el his philosophical innovation are the importance of individual experience, the importance of 'unconvenlional ist eopselations, and the importance of respect for indwidual Duniqueness. O NO 2. The goal of NDP framework is Success . Jlobould have a well communicated and dear now pacduct strategy. Successfell Business and teams & NOP have a dedication towards the voice of customers, and the nature of the market. Cost time and I quälety. are the main. variables that drive customer need. 3.1 The Components of an NDE Poemework - U As we know that it covers the complete process of bringing a new produd to market, a v INDP needs an understanding

Date: - Is and demande of customer needs and deman and combelitive enusoment w included nature of ma - with of market Je consists of several of such as lists several activities ** | Generation of nea ideas * Executive V seviews * Planning of projects - the Formulaibon procluck sleclogy and communications etc, Benefits of implementing a NDP process 's The main benefits of implementing a NOP Process is that keit provides new value for customers. imploving societies and continued existence of the company for long term. T il leads to Coate the langeble from the entangible and Jalso Nicads in created a new Howealth _ hat helps to achieve the busines goals His stredegy can also increase stuens and poeefi tabälity: