Innovation process

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Innovation process is complex phenomenon of dissemination of new ideas, technical and practical application, accompanied by specific economic and social effects. Innovation process includes all phases of technological change, invention (idea), innovation and diffusion (dissemination).

Product innovation process and product life cycle

The innovation process – can be linked to the life cycle of the product, which is made up of following stages: introduction, growth, maturity, decline, withdrawal. Product life cycle, especially in the first phase (introduction of a new product on the market) includes final results of innovation process performed in company. Prior to the introduction of a new product on the market, company has to design and develop it in process of innovation. It consists of:

  • testing - searching for new services, ideas, products, information,
  • development - improving existing services, ideas, products, information
  • design - translating requirements into understandable descriptions, used in manufacturing processes,
  • implementation - introduction of services and products on the market

Innovation process

Understanding of the concept of the innovation process requires proper definition of innovation. Most original and most widely used concept of innovation was developed by J. Schumpeter. Innovations are characterised as:

  • introduction to the production new products or improvement of existing products,
  • improve or implement a new production process,
  • development of a new method of distribution of products,
  • entering to the new market
  • the use of new consumables or raw materials for the production,
  • introduction of a new organization of production.

Other types of innovation processes

  • business process innovation,
  • disruptive innovation,
  • radical innovation,
  • open innovation,
  • creativity and innovation,
  • business model innovation,
  • marketing innovation,
  • technological innovation.

See also:

References