: Khanh Pham-Gia
: Radical innovation and Open innovation: Creating new growth opportunities for business. Illumination with a case study in the LED industry
: Diplomica Verlag GmbH
: 9783842800144
: 1
: CHF 39.90
:
: Management
: English
: 124
: kein Kopierschutz/DRM
: PC/MAC/eReader/Tablet
: PDF
"Henry Chesbrough - the Harvard professor and a worldwide expert for Open innovation - has stated that""most innovations fail. And companies that don’t innovate die."" In Germany only less than 0.5 % ideas pursuing by industrial companies has led to a success. The question being addressed is how companies can drive innovations effectively and efficiently to create new growth opportunities, particularly in this difficult time due to the global economic crisis. These challenges could be captured by driving radical innovations using open innovation methodology. Radical innovations can create new markets and huge growth potential for the business meanwhile breakthrough innovations can be developed faster and cheaper via open innovation approach.
The aim of this study is to provide a deep insight into radical innovation and open innovation management based on a thorough literature research and evaluation. Thereby basic concepts of the both innovation models are explored and compared with other innovation types, e.g. incremental and closed innovations. Moreover, the Christensen’s model of disruptive innovation and Chesbrough’s theory about open innovation are explained into details. In addition, opportunities and challenges as well as managing concept of radical and open innovations are analyzed and illuminated with concrete examples and cases, amongst others the eco-friendly Light Emitting Diode (LED). Beside technology and market breakthroughs, other aspects like future market trend, key success factors and strategies for capturing sustainable growth of disruptive LED technologies in the lighting industry are studied. It could be stated that companies should drive intensively open innovation and boost the outside-in and inside-out processes for creating new breakthroughs in LED technologies. Increased involving customers, suppliers and the outside scientific world into internal R&D, strengthened collaboration within the LED supply chain and intensified out-licensing of own technologies help companies to accelerate the innovation process and create new markets. Besides driving forceful innovation management companies should boost their new product development by exploitation of government supports which have been increased due to the current global climate change problems."
Radical innovation and Open innovation1
Executive Summary3
Acknowledgement7
Table of Contents9
List of Abbreviations11
List of Figures13
List of Tables14
1 Introduction15
1.1 Problem definition15
1.2 Objective17
1.3 Methodology17
2 Basics of innovation management18
2.1 Types of innovations18
2.1.1 Classification of innovation types18
2.1.2 Examples of the most important innovation types20
2.2 Radical innovation versus incremental innovation27
2.2.1 General differences27
2.2.2 Technical and market dimensions of innovations30
2.2.3 Uncertainties and management of radical innovations35
2.2.4 Disruptive innovations38
2.3 Open innovation versus closed innovation48
2.3.1 Shift in innovation paradigms48
2.3.2 Open and closed innovation – the main differences52
2.3.3 The core open innovation processes55
2.3.4 Managing open innovation59
2.4 Analysis of innovation models for the lighting industry61
3 Radical and open innovations for LED68
3.1 LED as a radical innovation in the lighting industry68
3.2 LED market breakthroughs75
3.2.1 LED market history75
3.2.2 LED future market trend80
3.2.3 Competitive landscape85
3.3 Open innovation for LED breakthroughs89
3.3.1 Future trend in LED development89
3.3.2 Managing open innovation for LED92
3.4 Managing future growth in LED business97
4 Conclusion102
5 Integrated Total Management Aspects108
6 Bibliography113