"Creativity and innovation are both necessary to identify gaps in the market. Creativity is the point of origination for innovation; one must be creative to be innovative. Innovation refers to a better way of doing something new that is commercialised in the market. An innovation strategy builds on creativity, invention, and technologies, acting within a value network, to commercialise new products and services effectively for its customers (Dorf and Beyers 2008 cited in Venter, Urban and Rwigema 2018: 63)." With reference to the above statement, critically examine the elements of an attractive innovation strategy in an organisation.
"Creativity and innovation are both necessary to identify gaps in the market. Creativity is the point of origination for innovation; one must be creative to be innovative. Innovation refers to a better way of doing something new that is commercialised in the market. An innovation strategy builds on creativity, invention, and technologies, acting within a value network, to commercialise new products and services effectively for its customers (Dorf and Beyers 2008 cited in Venter, Urban and Rwigema 2018: 63)." With reference to the above statement, critically examine the elements of an attractive innovation strategy in an organisation.
Chapter18: Management Of Technology And Innovation
Section: Chapter Questions
Problem 3CRQ: What are the five Cs of managing innovation, and how do they help direct a firms innovation...
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"Creativity and innovation are both necessary to identify gaps in the market. Creativity is the point of origination for innovation; one must be creative to be innovative. Innovation refers to a better way of doing something new that is commercialised in the market. An innovation strategy builds on creativity, invention, and technologies, acting within a value network, to commercialise new products and services effectively for its customers (Dorf and Beyers 2008 cited in Venter, Urban and Rwigema 2018: 63)."
With reference to the above statement, critically examine the elements of an attractive innovation strategy in an organisation.
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