Innovation Process Models

Running head: INNOVATION PROCESS MODELS
Innovation Process Models
Name of the Student
Name of the University
Author’s Note:

1
INNOVATION PROCESS MODELS
Table of Contents
1. Introduction............................................................................................................................2
2. Overview of Models of the Innovation Process.....................................................................2
2.1 Six Generations of the Innovation Process Model...........................................................2
3. Consequences of Partial Understanding of the Innovation Process.......................................4
3.1 Limitations of the Innovation Process Models and their Implications to Manage
Innovations.............................................................................................................................4
4. Conclusion and Recommendations........................................................................................5
Reference List............................................................................................................................6
Appendix....................................................................................................................................7

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INNOVATION PROCESS MODELS
1. Introduction
Innovation refers to the introduction of any new idea and creative thought or new
imagination in respect to a method or device. It is being viewed as the major application for
meeting the new requirements, existing market needs and unarticulated needs (Frankenberger
et al. 2013). This type of innovation occurs through better provision of business models,
processes, technologies, effective services and products, which could be made available in
society, governments and markets. Innovation process model is being utilized for launching
of new products and hence it becomes quite easy to increase creative power (Massa and
Tucci 2013). Moreover, these models are on the basis of different techniques like integrated
and parallel technology, integrated model, coupling technologies and demand pull and push
technologies. Innovation process model is extremely helpful to create as well as manage
subsequent innovation space that is utilized to share ideas and for working as a teamwork.
Moreover, this particular model is also helpful for gaining a better position in the respective
market place (Hogan and Coote 2014). After invention of process model, there is a high
chance that the risk is getting reduced effectively, thus demands are being fulfilled for a
better project. The following report outlines a brief discussion on six generations of
innovation process model with subsequent consequences of the innovation process after
highlighting main characteristics, strengths and limitations.
2. Overview of Models of the Innovation Process
2.1 Six Generations of the Innovation Process Model
The various characteristics, strengths and limitations of the six generations of
innovation process model are as follows (See appendix):
Generation Model Characteristics Strengths Limitations
1
1st
Generation
model
i) This is the first generation
model in innovation that is
completely on the basis of
push and pull technology.
ii) 1st generation model is a
simple linear sequential
procedure.
iii) The third important
characteristic is emphasis of
science and R and D
(Bocken et al. 2014).
iv) Another significant
characteristic is being
pushed by science and
technology.
i) The first
strength is its
simplified
approach and
model.
ii) Since
technology is the
key driver of
innovation, 1st
generation model
can provide
utmost efficiency
in business
processes.
iii) Another
strength is that it
could lead to
better innovation
of products,
processes and
services.
i) The first
limitation is
that the
activities are
required to be
completed
sequentially,
hence it
becomes time
consuming.
ii) Model
ignores
market
requirements
and customer
needs.