Innovation Design and Planning Essay

1468 Words6 Pages
Innovation Design and Planning Jennifer Bunt MGT/411 February 11, 2013 Kelly Wagner Innovation Design and Planning Innovation is the process of using ideas within a company to create new products, services, technology, or processes. Myths used to acknowledge that innovation was the idea of one individual with no support from others. In reality, innovative ideas that become new products and services require the support and knowledge of a significant amount of individuals. The individuals involved in the innovation process become involved in an array of business functions ranging from manufacturing, marketing, sales, and distribution. Companies will…show more content…
* Rate of technological change: It is important for a company to identify the effects of change on the company’s current products and services. It is vital for the company to change the technology used to keep up or stay ahead of the pack on a continual bases. According to Davila, Epstein, and Shelton (2006), “Internal factors are not the only formative forces; external forces can also shape the innovation strategy” (p. 77). Making aware of the internal and external factors can help to update and improve the innovation strategies the company uses. If the factors are made aware and followed, the factors will work hand-in-hand to support the company through the design and planning process of the innovation strategies. Equally important to the innovation process are the factors related to the innovation systems design. Factors that are analyzed include the creative phase, execution phase, and creation stage. In the creative stage, ideas come together for everyone to discuss. Next the innovation systems design will lead to the execution stage. During this stage, management will discuss and decide which idea will be the best to benefit and support the mission and principles of the company. Once a decision has been accomplished, the company moves to the creation stage. At this point, every detail will become compiled into the functions of daily business.
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