Innovation and Incentives

Innovation and Incentives
Author: Suzanne Scotchmer
Publisher: MIT Press
Total Pages: 382
Release: 2004
Genre: Business & Economics
ISBN: 9780262195157

The economics of intellectual property and R&D incentives explained in a balanced, accessible mixture of institutional details and theory.

Designing incentives in innovations processes. Gamification as an approach for creating an incentive system for the early stage of the innovation process

Designing incentives in innovations processes. Gamification as an approach for creating an incentive system for the early stage of the innovation process
Author: Lukas Weniger
Publisher: GRIN Verlag
Total Pages: 71
Release: 2020-06-12
Genre: Business & Economics
ISBN: 3346180921

Master's Thesis from the year 2019 in the subject Business economics - Business Management, Corporate Governance, grade: 1,7, Berlin School of Economics and Law, language: English, abstract: Incentive systems can contribute to the best possible exploitation of the employee’s abilities. A new way of setting those incentives and motivating employees is gamification. Gamification is defined as the application of game mechanics to a non-game setting, such as the business environment. Companies have discovered game-like incentives for motivating their employees, and now, this paper tries to create a gamified incentive system for motivating employees in the early stage of the innovation process. Innovation creates value, strengthens the market position and creates competitive advantages. Therefore innovation is widely seen as a critical source for economic success for companies. However, at the same time, innovation is expensive. For example, in 2018 alone, Apple invested as much as 14,24 billion dollars on research and development. This represented around 46% of their total operating expenses and approximately 2,6% of their total revenues. These costs are making it vital for companies to ensure the efficient use of innovation resources. This efficiency is largely determined by the competence, creativity and motivation of the employees working in the area of in research and development (R&D). Thus, companies have to generate adequate motivation in employees to deliver their innovative ideas, obtain a patent and develop the patentable idea into profitable innovation. Human resource (HR) management practices are considered as an essential instrument to fulfil this task. However, standard pay-for-performance schemes, which only reward short-term financial success, are not suitable for fulfilling this task in the innovation process, because innovation processes are likely to fail as they contain a high degree of uncertainty. In standard schemes, this failure would result in penalties by a lower compensation or a possible termination of the contract. This punishment has the potential to harm the innovative behaviour of employees. A company that wants to encourage innovation must design incentive systems that free employees to take risks, experiments and discover what practices and technologies are the most effective. These unique characteristics of innovation processes are the reason why analysing incentive systems in the context of innovation processes is of particular interest. Especially since incentive systems are considered as essential for ensuring the efficiency of innovation processes, as employees adapt their behaviour to these systems.

The Design of Business

The Design of Business
Author: Roger L. Martin
Publisher: Harvard Business Press
Total Pages: 209
Release: 2009
Genre: Business & Economics
ISBN: 1422177807

Most companies today have innovation envy. Many make genuine efforts to be innovative: they spend on R & D, bring in creative designers, hire innovation consultants; but they still get disappointing results. Roger Martin argues that to innovate and win, companies need 'design thinking'.

Managing Innovation, Design and Creativity

Managing Innovation, Design and Creativity
Author: Bettina von Stamm
Publisher: John Wiley & Sons
Total Pages: 591
Release: 2008-04-28
Genre: Business & Economics
ISBN: 0470510668

Innovation is the major driving force in organisations today. With the rise of truly global markets and the intensifying competition for customers, employees and other critical resources, the ability to continuously develop successful innovative products, services, processes and strategies is essential. While creativity is the starting point for any kind of innovation, design is the process through which a creative idea or concept is translated into reality. Managing Innovation, Design and Creativity, 2nd Edition brings these three strands together in a discussion built around a collection of up-to-date case studies.

Incentives for Collaboration and Competition

Incentives for Collaboration and Competition
Author: Jonas Heite
Publisher: Springer Nature
Total Pages: 219
Release: 2020-02-25
Genre: Business & Economics
ISBN: 3658292318

Individuals and firms can improve their performance through collaboration and competition. However, it is still an open question how collaboration and competition schemes can be optimally designed and incentivized in order to exploit their full potential. Jonas Heite investigates this question by assessing efforts to stimulate R&D collaboration and by examining properties as well as underlying mechanisms (e.g., effort, risk, confidence and stress) of ability configurations in contests. Based on three large-scale economic studies covering laboratory, field and natural experiments, the author applies novel and sophisticated econometric methods to provide causal empirical evidence that yields important implications for policymakers, managers and researchers.

Strategic Management of Innovation and Design

Strategic Management of Innovation and Design
Author: Pascal Le Masson
Publisher: Cambridge University Press
Total Pages: 488
Release: 2010-09-09
Genre: Business & Economics
ISBN: 0521768772

There is now widespread agreement that innovation holds the key to future economic and social prosperity in developed countries. Experts studying contemporary capitalism also agree that the battle against unemployment and relocations can only be won through innovation. But what kind of innovation is required and what is the best way to manage, steer and organize it? Grounded on experiences of innovative firms and based on recent design theories, this book argues that instead of relying on traditional R&D and project management techniques, the strategic management of innovation must be based on innovative design activities. It analyses and explains new management principles and techniques that deal with these activities, including innovation fields, lineages, C-K (Concept-Knowledge) diagrams and design spaces. The book is ideal for advanced courses in innovation management in industrial design schools, business schools, engineering schools, as well as managers looking to improve their practice.

The Definitive Guide to Effective Innovation (Collection)

The Definitive Guide to Effective Innovation (Collection)
Author: Tony Davila
Publisher: FT Press
Total Pages: 1873
Release: 2013-04-27
Genre: Business & Economics
ISBN: 0133448584

A brand new collection of state-of-the-art guides to business innovation and transformation 4 authoritative books help you infuse innovation throughout everything your business does: not just once, but constantly! This extraordinary collection shows how to make breakthrough, high-profit innovation happen – again and again. Start with the recently updated edition of Making Innovation Work: a formal innovation process proven to help ordinary managers drive top and bottom line growth from innovation. This guidebook draws on unsurpassed innovation consulting experience, and the most thorough review of innovation research ever performed. It shows what works, what doesn’t, and how to use management tools and metrics to dramatically increase the payoff of innovation investments. You’ll learn to define the right strategy for effective innovation; structure organizations, management systems, and incentives for innovation, and much more. Next, Innovation: Fast Track to Success helps you get six key things right about innovation: planning, pipeline, process, platform, people, and performance. You’ll learn how to deeply integrate innovation throughout team structure, so you can move from buzzwords to achievement. Then, in Disrupt: Think the Unthinkable to Spark Transformation in Your Business, frog design’s Luke Williams shows how to start generating (and executing on) a steady stream of disruptive strategies and unexpected solutions. Williams combines the fluid creativity of “disruptive thinking” with the analytical rigor that’s indispensable to business success. The result: a simple yet complete five-stage process for imagining a powerful market disruption, and transforming it into reality that can catch an entire industry by surprise. Finally, in the highly-anticipated Second Edition of Creating Breakthrough Products: Revealing the Secrets that Drive Global Innovation, Jonathan Cagan and Craig Vogel offer an indispensable roadmap for uncovering new opportunities, identifying what customers really value today, and building products and services that redefine (or create entirely new) markets. This edition contains brand-new chapters on service design and global innovation, new insights and best practices, and new case studies ranging from Navistar’s latest long-haul truck to P&G’s reinvention of Herbal Essence. With even more visual maps and illustrations, it’s even more intuitive, accessible, and valuable! From world-renowned business innovation and transformation experts Tony Davila, Marc Epstein, Robert Shelton, Andy Bruce, David Birchall, Luke Williams, Jonathan Cagan, and Craig Vogel

Managing New Product Innovation

Managing New Product Innovation
Author: B. Jerrard
Publisher: CRC Press
Total Pages: 260
Release: 2003-09-02
Genre: Business & Economics
ISBN: 0203212177

New product design and development is often the result of personal vision. Harnessing this often requires a special receptiveness and enthusiasm at all levels of an organization, which serves to unlock potential and can turn the entire organizational pyramid upside-down. It is particularly important to understand and develop those aspects of design which can be constructively employed by designers in a strategic alliance with management and research.; The papers in this volume result from the conference of the Design Society held at the University of Central England in September 1998. They show how design-led product development has worked in a range of industries, from engineering through to design and management consultancy. Not only practitioners but also students of industrial design and management should find this a valuable contribution to the subject.