Topic 6 – System Level Design

⚫What is innovation?

⚫ Types of innovation

⚫ Models of innovation

⚫ What makes an innovative company?

1️⃣What is innovation?

  1. meaning to renew, to make new or to alter, new way of doing things
  2. research product to increase turnover(营业额) and profit
  3. Is successful implementation of a new improved product or process, a new marketing method, or a new organisational method

⁉️Invention vs Innovation

-Innovation = theoretical conception + technical invention + commercial exploitation

-invention can be an innovation even if it is unsuccessful

2️⃣Types of innovation

⚫ Product (or service) innovation

⚫ Process Innovation

1.Product Innovation

  1. relate to actual products

  2. Advantages:

    ⚫ Increased market share

    ⚫ Public relations

    ⚫ Enhanced reputation

    ⚫ Build customer loyalty

    ⚫ Added value

    ⚫ Higher prices and profitability

    ⚫ Competitive advantage

  3. Can lead to process, managementand/or organisational innovation

2.Process Innovation

  1. Find more efficient and effective ways of

Producing and Delivering existing products

  1. Advantages:

    ⚫ Reduced costs

    ⚫ Improved quality

    ⚫ More responsive customer service

    ⚫ Greater flexibility

  2. Disadvantages：

    ⚫Loss of jobs

    ⚫ re-training of workers

3️⃣Models of innovation

1.Linear models

Technology push

image-20220421191349867

Market pull

image-20220421191807027

Universities & industry liaison（联络）

image-20220421191947517

2.Simultaneous coupling

image-20220421192110813

3.Interactive

  1. Takes simultaneous coupling one step further
  2. No starting point
  3. links between the organisation (internal external) with the marketplace and science base .

image-20220421192217840

4️⃣What makes an innovative company?

  1. Growth orientation（定位）：long-term process、 requir investment.

  2. vigilance（警觉）：By SWOT analysis Identifying threats, opportunities.

  3. commitment to technology(技术承诺)：Need Long-term commitment.

  4. acceptance of risks：Risk assessment strategies and balanced product portfolios.

  5. cross-functional cooperation：removal of inter-departmental conflict.

  6. Receptivity：the ability to accept technologies from outside of the company

    Joint activities allow knowledge sharing.

  7. slack(宽松管理)：Allowing individuals time to think and investigate . flexibility on milestones.

  8. adaptability: Ability for companies to adapt as required.

  9. diverse range of skills.