1. Best Practice of Innovation Management in Private Sector

2. Definition
“Innovation is production or adoption, assimilation, and exploitation of a value-added novelty in economic and social spheres; renewal and enlargement of products, services, and markets; development of new methods of production; and establishment of new management systems. It is both a process and an outcome.".(Edison et al, 2013)

3. Definition
“ Innovation as the introduction of new products, the introduction of new method of production, the opening of a new market, the conquest of a new source of supply of raw materials and the carrying out of the new organization of any industry “(Schumpeter, 1934)

4. Innovation`s Dimensions
Creativity
Learning
Knowledge
Collaboration
Context
Context
Source : Bassiti, L. El & Ajhoun, R International Journal of Innovation, Management and Technology. 4(6). Pp

5. Innovation Model ; Pull and Push
The first and second generation models are linear models explaining innovation as either being pulled by market needs, or pushed by technology and science

6. Innovation Management ; The Pentathlon Framework
The innovation pentathlon consists of : 1) creating an innovation strategy, 2) generating ideas, 3) prioritizing and selecting from these, 4) implementing the ideas selected 5) involving people from across the business.

7. The Pentathlon Framework

8. Case Study 1 ; Singapore Airlines
Vote world’s best airline in surveys by Travel magazine
First-to-market strategy for many years
More modern aircraft offering :
Larger than average seating
First in-flight- phones and faxes
Leader in the introduction of electronic tickets
Flexible for-flight confirmation by phone, fax or
Staff receive longer and more detailed training
Visit senior citizen’s homes

9. Case Study 2 ; IKEA of Sweden
IKEA is a Swedish company that design and sells ready-to-assemble furnitures, appliances and home accessories.
Communicate widely about innovation strategy
Innovate keeping your core strength in mind. IKEA make sure it has something appealing for everyone at low price.
Innovations means maintaining good quality
Flat packing means cost saving on transportation and assembly
IKEA has a well-defined organizational and governance structure to manage innovation
Innovation in IKEA catalogue. IKEA catalogue is a study on how to create in year-long invitation to IKEA stores
IKEA operative KPI measure the achievements in terms of innovation status and milestones
Innovations and changes comes from the top

10. Selesai