Seminar 1 s2 07.pptVIP

Seminar 1, 325-694 Managing Innovation and Entrepreneurship Introduction/Overview What is innovation and entrepreneurship? The Evolution of Entrepreneurship. Innovation principles Integrating Technology and Strategy Innovation Capabilities Managing Organisational Innovation Model (MOIM). Course Leader and Lecturer Assoc Prof. Milé Terziovski, PhD; MBA; ME(Hons);BE(Hons); Dip. Mgmt (HR). CRA-RTZ-17 years – Trainee Engineer, Plant Engineer, Workshop Superintendent, Production/Engineering Superintendent, Project Leader-Mineral Sands Project PhD research Melbourne Business School Quality and Strategic Management Executive Director, Centre for Global Innovation and Entrepreneurship, The University of Melbourne Research innovation management, business process management, ISO 9000 and TQM Collaboration with European partners on Information and Communication Technologies – Small to Medium Enterprises Why has innovation become an important topic? Increased competition Accelerated product development cycles Innovation and New Product Development (NPD) is becoming critical to corporate success Approximately half of the profits of all US companies came from products launched in the previous 10 years (Wheelan Hunger, 2004) Link between Innovation and Competitive Advantage Sources of competitive advantage-shift away from economic drivers, such as economies of scale, large size firms to new strategies and organisation designs based on creating new sources of KNOWLEDGE and IDEAS to develop breakthrough products and services to customers – this involves innovation and entrepreneurship Innovation, the next business challenge Davis Moe(1997) stated: “Business people must shed their short-term mindsets and expand their thinking into the future.” Innovation is a way of working-although Davis Moe present a structure in an NPD context, what underlines their process is a different ATTITUDE to work. For example, in places like Silicon Valley innovation is celebrated. Peo