Innovation Implementation Framework
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| Introduction Innovation Implementation Framework The process of innovation is often compared to the process of evolution (Bessant and Tidd, 2007). Firms, like organisms, survive and grow through a process of variation, selecting new elements which help them adapt to a particular environment and propagating these more widely. This is why the government wants to focus on making businesses digital. Firms that do not keep up with innovations are likely to go out of business. On the other hand, not all innovations are initially successful, and companies which stake too much on a specific innovation may also face difficulties. This is why this framework is designed to help develop a comprehensive strategy for embedding the innovation driven entrepreneurship pillar. Rather than a fixed, step-by-step processor method, this framework reflects that successful implementation is both an art and a science. Even when an innovation is successful in the long term, the inventing or initially promoting firm may fail to benefit from its short or medium-term commercial investment. And again, conversely, an innovation maybe genuinely serendipitous but a well-prepared organization can exploit it. Download 0.62 Mb. Share with your friends:
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