Innovation Management Principles

Abstract

This chapter summarises and critically reviews the most significant principles in the area of innovation management. The chapter starts with a discussion of factors surrounding value appropriation as introduced by David Teece in 1986. This is followed by explanations related to the concept of dominant designs and product life cycles as introduced by Abernathy and Utterback in 1978. Other sections discuss in detail the value of product languages in relation to technology innovation, market-related drivers such as technology-push and market-pull, and last but not least intellectual property rights (IPR) Different forms of IPR are explained and compared in relation to robustness and effectiveness, and how they may pave the way towards open innovation initiatives. The insights drawn help generate an understanding of product and start-up business developments, and also of market dominance.