TECHNOLOGICAL innovations, ENTREPRENEURSHIP, ELECTRONIC commerce, RAPID prototyping, ONLINE data processing, and VIRTUAL communities
The article focuses on the innovation centers used by large companies to encourage and implement new ideas. According to the author, most entrepreneurial companies cannot afford an innovation center, but they can apply some principles, like combine ideas, think backwards, doing rapid prototyping, create an internal incubation fund and taking it online.
TECHNOLOGICAL innovations, NEW business enterprises, VENTURE capital companies, ENTREPRENEURSHIP, and CREATIVE ability in technology
How do firms radically innovate with limited resources in high-turbulent environments? We examine this question via in-depth comparative case studies of ten start-up firms in diverse high-turbulent markets. Evidence shows that the perceived value of resources depends on two contextual factors: market type and business model type. More interestingly, firms that see resource limitation as an enabler rather than an inhibitor seem to have a distinct capability that we call lean innovation capability. It is defined as a distinct capability that reflects a firm's ability to experiment with ideas that meet core customer needs by constantly iterating the initial offering with the purpose of validating the learning through continuous market feedback to achieve sustainable performance. The three main qualities of these companies are (1) adopting abductive reasoning, (2) embracing a validity-driven approach, and (3) operating in the overlapping spaces of fundamental customer needs, business viability and technological feasibility. Lean firms adopt design-thinking methodology and act like bricoleurs, such as make-do by applying combinations of the available resources through rapid prototyping to new problems and opportunities in an experimental way. Briefly, lean innovation capability enables firms to manage limited resources by reconfiguring and reallocating existing resources, and, thereby, helps empower resource-limited radical innovation. [ABSTRACT FROM AUTHOR]
NEW product development, ENTREPRENEURSHIP, TECHNOLOGICAL innovations, RAPID prototyping, and PRODUCT management
Under modern conditions the efficiency of enterprise activities depends on the fact how successfully new goods of improved quality are launched into the market. The search and development of new goods (innovation activity) is the main reason of investment in business. There is proposed the new model of creation of new product by means of innovative structures of business activity, where main stage is that of generation of new ideas (the systematic search of innovation). Effectively working businessmen receive new original ideas, getting into contact with the consumers of their products. The main purpose of this stage is it make a suggestion of new innovations as much as possible, the following stages are aimed at decrease of their number, choosing the most effective. Each of the chosen ideas should be turned into the concept of the good, whose impact should be tested on the relevant group of potential consumers. The most attractive concept being identified, the strategy of marketing of new product should be worked out alongside with technical economic analysis. If the project is financially favorable, it goes over to the stage prototype creation with succeeding trial of marketing. If the businessman is sure in the success of new product the trial is refused at all or is carried out in reduced form. In case the decision to continue is made, the project undergoes the stage of commercialization. In real life the stages of goods development processes described above very succeed each other in the strict order. Many businessmen prefer quicker and more flexible parallel development of new product, supposing undergoing of some stages simultaneously, which saves time and increases efficiency of new project. The parallel approach in its turn has some flaws. Too quick development of the product can cause more risks, may be more expensive, leading to additional management problems. However, in high technological brunches (electronics, computer and etc.) the advantages of parallel innovation development processes surpass the risks. The businessmen have to take into account what stages of new product launching are more favorable for parallel development in certain conditions. This method is very useful for businessmen that want to be a leaders on the local market for long time. New ideas and good quality of new good are base of success in competition. [ABSTRACT FROM AUTHOR]
This article presents several conference paper abstracts on technology and innovation management, including and examination of whether varieties of capitalism theory properly describes the empirical world of technological innovation, a framework for exploring why industry incumbents lose their leadership positions to attackers in the face of seemingly innocuous technological changes, and empirical research into the nature of business relationships, knowing and learning in the British and Italian motorsport industries.