Readings: Innovation Management Strategy Agile, sharp, and capable of creative destruction—these three traits are well suited to innovation management. Creative destruction refers to the ability to mo

Readings:

Innovation Management Strategy

Agile, sharp, and capable of creative destruction—these three traits are well suited to innovation management. Creative destruction refers to the ability to move on from fleeting competitive advantage as soon as the next innovation is glimpsed. Sometimes this involves cannibalization of an organization’s existing product, replacing the old with the new. This ability makes it difficult for competitors to copy strategy in a timely manner while also providing strategic positioning ahead of competitors.

Managing disruptive technological innovation, navigating your company into a strategic and dynamic position that secures competitive advantage within your industry, devising a process by which your innovations are relatively unassailable, and creating and maintaining blue oceans in which to operate—these are all aspects of strategy.

Over the next 2 weeks, you will examine innovation management strategy. This strategy does not exist in a vacuum in an organization. To be effective and efficient, it must be linked and aligned with organizational and/or business strategy. You will also review various ways organizations apply innovation management strategies, the use of innovation incubators and startups, and reasons for innovation failures.

• Learning Resources

Recommended Readings

Important Note: Some of the readings found in this course are more than 5 years old. Although we strive to use current references whenever possible, many of the seminal articles/resources found in this course are from the theorists who created the original theory/theories.Note:To access this week's required Harvard Business Review resources, select the article link and navigate to the relevant article or go back to Blackboard and selectHarvard Business Articlesfrom the course navigation menu.Brown, B., & Anthony, S. D. (2011). How P&G tripled its innovation success rate. Harvard Business Publishing, 89(6), 64–72.Eggers, J. P., & Kaul, A. (2016). When big firms are most likely to innovate.Hogenhuis, B. N., van den Hende, E. A., & Hultink, E. J. (2016). When should large firms collaborate with young ventures? Research Technology Management, 59(1), 39–46. doi:10.1080/08956308.2016.1117329Martin-Rios, C., & Parga-Dans, E. (2016). The early bird gets the worm, but the second mouse gets the cheese: Non-technological innovation in creative industries. Creativity and Innovation Management, 25(1), 6–17. doi:10.1111/caim.12131.Nagy, D., Schuessler, J., & Dubinsky, A. (2016). Defining and identifying disruptive innovations. Industrial Marketing Management, 57, 119–126. doi:10.1016/j.indmarman.2015.11.017Prajogo, D. I. (2016). The strategic fit between innovation strategies and business environment in delivering business performance. International Journal of Production Economics, 171, 241–249. doi:10.1016/j.ijpe.2015.07.037Ringel, M., Taylor, A., & Zablit, H. (2016). The world's most innovative companies: 4 things that differentiate them.Sinfield, J. V., & Solis, F. (2016). Finding a lower-risk path to high-impact innovations. MIT Sloan Management Review, 57(4), 79–89.