Chapter 5 The Systems Approach to Innovation Management

Author: Karlsson Magnus, Magnusson Mat
Publisher: Taylor & Francis

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The environment in which a company or organization operates today can be characterized ~by accelerating change, the globalization of markets, the emergence of new technologies and ~competitors, new regulatory requirements and ever more demanding users and citizens. In this ~environment, the ability to innovate becomes a key success factor for most organizations. They ~seek to continuously create and realize value by introducing new or changed products, services, ~processes, models, methods, etc. ~The reasons for an organization to innovate are many and can include to increase revenues, ~growth and profitability, reduce costs and waste, increase the satisfaction of users, customers and ~citizens, motivate employees and attract partners, collaborators and funding, and so on. Engaging ~in innovation activities is thus a way for an organization to be future focused and effectively ~deliver on its overall objectives to secure prosperity and longer-term relevance and survival. ~The ability to innovate and to make it a core organizational capability is increasingly becoming ~the most important differentiator and dominant success factor of organizations. Failing to ~capture new opportunities and to respond to innovation challenges may consequently lead to ~stagnation, irrelevance and ultimately to the demise of the organization.

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