AN APPROXIMATION TO SYSTEMATIZE INNOVATION
Technical University of Madrid (SPAIN)
About this paper:
Appears in: ICERI2014 Proceedings
Publication year: 2014
Conference name: 7th International Conference of Education, Research and Innovation
Dates: 17-19 November, 2014
Location: Seville, Spain
Abstract:Impact. This is the end result companies are looking to achieve. There is no-one accepted approach towards innovation, and although the first known use of the word “Innovation” dates from 1548 the understanding of this concept has evolved overtime. Specifically, innovation nowadays is seen as a toolkit for companies to drive superior performance. However the lack of systematization and control in this arena may lead businesses to fall short in execution or dissatisfaction with the way they pursue and benefit from innovation. In the search of means suited for those companies that want to become more resourceful or increase the returns on their investments in innovation, this paper contributes with the application of a framework that looks to standardize and systematize a series of activities that are crucial and repeteadly pursued along innovation processes. The proposed approach leverages on the concept of “Ecosystem” (general framework) and is oriented towards setting a structure and common procedure for companies to secure their business goals in terms of growth, value creation and competitive advantage.
Keywords: Innovation, model, systematic approach.