Innovation Management

This document discusses the concept of innovation management and its feasibility in the business world. It explores the development of a product called Solar Powered Laptop Skins, which aims to provide better battery backup to laptops. The document evaluates the feasibility, practicality, market potential, consumer purchasing power, and the capabilities of the team. It also highlights the challenges and limitations of this innovation.

Running head: INNOVATION MANAGEMENT
Innovation Management
Name of the Student
Name of the University
Author Note

1INNOVATION MANAGEMENT
Table of Contents
Introduction................................................................................................................................2
Is innovation based on sound engineering, technology, science and management – Is it
feasible?..................................................................................................................................2
If Innovation is feasible - Is it a practical concept?...............................................................3
Is there a market for the product as claimed by the presenter?..............................................3
If market is there – do the people/target consumers have enough purchasing power to buy
the product, are there any cultural social and political issues?..............................................4
Are investors satisfied with distribution strategy, costing, financial and rate of return and
exit plan?................................................................................................................................4
Are you satisfied with the growth and sustainability of the product?....................................4
Is the team selected by the presenter capable enough to carry forward the business and
successfully achieve the business objectives and targets?.....................................................5
Evaluation of the presentation................................................................................................5
Conclusion..................................................................................................................................5
References..................................................................................................................................7

2INNOVATION MANAGEMENT
Introduction
Innovation management is the procedure by which the management of a system and
the innovation of a process is amalgamated with one another and bring about changes in the
usual business structure. That can even be about the production or the manufacturing of a
specific kind of product. In the world of business based on the Information and
Communication Technology, it is extremely important that the innovation process is carried
on from time to time to ensure competitive advantage being added to the business and the
products (Nambisan et al. 2017). Following would be an analysis based on the development
of a product known as the Solar Powered Laptop Skins, which is an innovative product
developed for the laptops and are envisioned to provide better battery backup to the devices.
The feasibility of the innovation will be justified in the report below.
Is innovation based on sound engineering, technology, science and management –
Is it feasible?
The innovation is essentially built up on the aspect of the technology and science with
the prospects of engineering as well. The possibility of the building up of a laptop skin which
is essentially built to provide longer battery backup to the devices are being justified with
this. The idea is based up on the latest battery backup of the laptops that are found to be about
3 hours to a maximum 6 hours in time (Goffin and Mitchell 2016).
The vision for the innovation was viewed to be for the extension of the battery
backups for the laptops that would be powered with the help of the solar skin in case the
battery starts to drain faster, which is an occasional case for the gamers (Frishammar et al.
2019).

3INNOVATION MANAGEMENT
The concept as an idea can be regarded as feasible however, there were some doubtful
situations regarding the capturing of sunlight on the solar panels was still required to be
thought about.
If Innovation is feasible - Is it a practical concept?
The practical concept behind the project was taken to be envisioned by the product
development which clearly said that the solar skin was thought to be implemented to be stuck
on the lid of the laptop by which it was estimated to provide better battery backup to the
laptops by helping the computers to save themselves for huge battery drain out, that mostly
occurred in cases of the gamers, online designers and others (Baumann et al. 2016). The
concept was developed to provide a solution to the battery problems of the draining out of
laptop battery by providing with a better battery backup, but the concept was still sceptical to
be considered as a practical approach.
Is there a market for the product as claimed by the presenter?
The presenter of the innovative idea has represented the fact that the innovation was
also considering the spread of the product over a specific kind of market for presenting the
customers (Kock and Gemünden 2016). The target market selected for this innovative
product was considered to be the laptop manufactures as they would be interested to include
the innovative product to the laptops at the cheapest possible price. It is expected that since
the product ensures the elongation of the battery life, it would ensure that the laptop
manufacturing companies would also be interested in investing into the product.

4INNOVATION MANAGEMENT
If market is there – do the people/target consumers have enough purchasing
power to buy the product, are there any cultural social and political issues?
If any customer is keen on being interested in the product and would like to
implement the same in their laptops from this point onwards, they would have to agree to
various cultural, social and political issues to deal with before having enough political powers
(Matzler et al. 2017).
For example, the political issues needed to be followed and for that the Government
should be paid an amount for the tax as an approval of selling the device to the customers. On
the other hand, the population aging might make it extremely difficult for the manufacturing
of the project.
Are investors satisfied with distribution strategy, costing, financial and rate of
return and exit plan?
The plan has a detailed distribution plan developed based on strategy, costing,
financial and rate of return and exit plan but the investors were unimpressed as the innovation
was missing the basic idea behind the implementation of a solar panel (Kasemsap 2017).
Are you satisfied with the growth and sustainability of the product?
The sustainability of the product is not at all justified as it is a solar panel and it would
wear out off the solar energy is not exposed to the sun at some point of time.

5INNOVATION MANAGEMENT
Is the team selected by the presenter capable enough to carry forward the
business and successfully achieve the business objectives and targets?
The team selected by the presenter was indeed capable enough to carry forward the
business and successfully achieve the business objectives and targets.
Evaluation of the presentation
The presentation can be marked a 3 for the intention and for formulating the idea, but
it was not at all feasible for the practical implementation as the person having the Solar
Powered Laptop Skins would be required to take the laptop one time a day to the open
sunlight and sit for some time to refill the solar panels (Bhagat and Nalbalwar 2016). This
was an impossible process.
Conclusion
Therefore, the innovation plan for the product known as the Solar Powered Laptop
Skins are extremely innovative as an idea to extend the battery life of a regular laptop, and
this is why, the evaluation procedure was developed. This is why, the product innovation plan
had been ideated to be analysed from different aspects of establishing the concept to be
effective, feasible, able to gather market place, having market gathering power, absorbing the
target consumers and to on to reach a conclusion that will justify if the innovation is feasible
for the market and the product considering all aspects of the analysis. After the evaluation,
the presentation was found to be not much impressive as it lacked the basic idea behind the
gathering of the solar power to the panel. This would only be feasible if the person having the
laptop would go out and sit in the sun for several amount of time in a day, which is a tiring
and impossible task to follow. Thus, the innovation management was not a feasible plan at
all.

6INNOVATION MANAGEMENT

7INNOVATION MANAGEMENT
References
Baumann, T., Mantay, K., Swanger, A., Saganski, G. and Stepke, S., 2016. Education and
innovation management: a contradiction? How to manage educational projects if innovation
is crucial for success and innovation management is mostly unknown. Procedia-Social and
Behavioral Sciences, 226, pp.243-251.
Bhagat, M. and Nalbalwar, S., 2016, December. Wireless Transfer of Solar Power for
Charging Mobile Devices in a Vehicle. In International Conference on Communication and
Signal Processing 2016 (ICCASP 2016). Atlantis Press.
Frishammar, J., Richtnér, A., Brattström, A., Magnusson, M. and Björk, J., 2019.
Opportunities and challenges in the new innovation landscape: Implications for innovation
auditing and innovation management. European Management Journal, 37(2), pp.151-164.
Goffin, K. and Mitchell, R., 2016. Innovation management: effective strategy and
implementation. Macmillan International Higher Education.
Kasemsap, K., 2017. Strategic innovation management: An integrative framework and causal
model of knowledge management, strategic orientation, organizational innovation, and
organizational performance. In Organizational Culture and Behavior: Concepts,
Methodologies, Tools, and Applications(pp. 86-101). IGI Global.
Kock, A. and Georg Gemünden, H., 2016. Antecedents to decision‐making quality and agility
in innovation portfolio management. Journal of Product Innovation Management, 33(6),
pp.670-686.

8INNOVATION MANAGEMENT
Matzler, K., Veider, V., Hautz, J. and Stadler, C., 2015. The impact of family ownership,
management, and governance on innovation. Journal of Product Innovation
Management, 32(3), pp.319-333.
Nambisan, S., Lyytinen, K., Majchrzak, A. and Song, M., 2017. Digital innovation
management: Reinventing innovation management research in a digital world. Mis
Quarterly, 41(1).