Study of Innovation Process Model

Running head: - STUDY OF INNOVATION PROCESS MODEL
STUDY OF INNOVATION PROCESS MODEL
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1STUDY OF INNOVATION PROCESS MODEL
Table of Contents
Introduction................................................................................................................................2
Overview of the models of the innovation process....................................................................2
Six generations of the innovation process model...................................................................2
Generation..............................................................................................................................2
Model.....................................................................................................................................2
Characteristics........................................................................................................................2
Strengths.................................................................................................................................2
Limitations.............................................................................................................................2
Conclusion and recommendations.............................................................................................7
Appendix....................................................................................................................................8
References..................................................................................................................................9

2STUDY OF INNOVATION PROCESS MODEL
Introduction
Everything whether big or small requires innovation. Innovation is not a recent
process, innovation always takes place. Innovation was there for a long time, in the year 1960
individuals started coming up with models related to innovation and idea. Until now there
have been six models related to the innovation process. Many contributions are made for the
evolution of the innovation model process. The major drawback of the new technology is
whether the launched model will be productive or not. The innovation model process is used
in launching new products. Innovation process model increases the creative power and
improves the launches. Innovation process models serve as the key driver for innovation. It is
used to launch a product in the market in such a way so that it creates a market place. The
process model is used for motivation purpose. The models are based on different techniques
such as the push, demand-pull technology, coupling technology, integrated model, and
parallel and integrated technology. The innovation process models help in creating and
managing innovation space, used in sharing an idea, it is used for teamwork. Innovation
model process helps in the strategic approach towards the market and gain a good position in
the marketplace. The process model applied for the innovation process of the business.
Innovation process models help in the continuous improvement of the product. With the
invention of the process models, the process is becoming costlier, and the risk is increasing
due to the global competition (Kotsemir and Meissner 2013). The innovation process helps in
the fulfilment of the demands required for a good project. The growing global demand
adversely affects changes in the innovation model process. The report states the innovation of
the six generations of innovation process models. The report discusses the innovation process
model, its characteristics, its limitations, its strengths, its consequences and the required
recommendation.
Overview of the models of the innovation process
Six generations of the innovation process model
Generation Model Characteristics Strengths Limitations
1. First
generation
model
 The first
generation is
based on pull
and push
technology
(Keskin, Diehl
and Molenaar
2013).
 The model is
linear.
 The model is
consecutive.
 The model
consists of five
different stages.
 The stages of the
model are the
basic science,
design related to
engineering,
 The model is
simple.
 The
innovation is
radical
(O’Connor
and Rice
2013).
 The model
reduces the
technical
uncertainties.
 The task
needs to be
completed
according to
the stages.
 All the
activities need
to be
completed
before
proceeding to
the next
particular
phase.
 The model
does not deal
with the
market
marketing
phase.