The Innovation Process
The innovation process refers to a manner in which a company or organization develop new products or services in order to meet a need in society, compete with other companies, or market a new advancement. It can be defined as: “the implementation of a new or significantly improved production or delivery method. This includes significant changes in techniques, equipment and/or software” (Process Innovation, 2005). Different sources list the steps of the innovative process differently. One current, simplified version of the innovation process has three steps: conception, implementation, and marketing (Tiwari, 2008). Another, more specific description of the innovation process includes four phases – strategy, process, product, services, each of which build on each other to produce the complete innovation.
Strategy is the first step. This step includes defining the criteria that will be used to determine whether the innovation is successful or not, researching into the market, needs, current appeals, etc., setting goals regarding the objective and purpose of the innovation, and proceeding to delineate a strategy, or path to follow in order to implement the innovation (Buggie, 2001). The second step, called the process, closely relates to the strategy phase. Everything that happens between the establishment of the strategy, and the actual production of the product, is part of the process phase. The process stage includes, but is not limited to forming a team or workers, delineating responsibilities, proceeding forward with research and investment, developing the product, pilot testing it, etc.
The last two phases – product and services, deal with the final steps of the innovation process, when the product is actually released into the market. The production, release, advertising, and development of further services relating to the innovated product or system, happen during these phases.
This innovation process can be used in our company in order to keep it current and successful. Innovation is appreciated if the innovation represents advancement. Therefore, in order to maintain a strong company identity, and make sure clientele will continue to appreciate this company as unique among its competitors, the company will use the process of innovation a minimum of once a year. This innovation process will follow close research and study into the trends and needs of society, so the company can present an innovation that either responds to or creates an appealing need one step ahead of its competitors.
References
Buggie, Frederick D. (2001). The Four Phases of Innovation?Access My Library. Retrieved from
Process Innovation.(2005). NSC Publishing. Retrieved from
Tiwari, Rajnish. (2005). The innovation process. TUHH. Retrieved from
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