Which Innovation Model
August 2, 2011 Editor 0
Which innovation model a country chooses can have implications for its long term ability to sustain its innovation. Recent discussions have focused on the US “disruptive innovation” as opposed to the Japanese “sustaining innovation”. Disruptive innovation describe innovations that improve a product or service in ways that the market does not expect, typically first by designing for a different set of consumers in the new market and later by lowering prices in the existing market. A sustaining innovation does not create new markets or value networks but rather only evolves existing ones with better value, allowing the firms within to compete against each other’s sustaining improvements.
We have collected a series of links to Innovation Models which you will find at the end of this article.
The African continent is diverse and each country will have its own determinants of which Innovation Model will deliver its objectives. At the same time, its clear that an Open Innovation Model will have prove immensely beneficial to many countries on the continent. The boundaries between a firm and its environment have become more permeable; innovations can easily transfer inward and outward. The central idea behind open innovation is that in a world of widely distributed knowledge, companies cannot afford to rely entirely on their own research, but should instead buy or license processes or inventions from other companies.
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- ‘Borrow’ Business Models to Reinvent Your Industry
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- Building a culture of innovation by maximizing the role of the RN.
- Five Ways to Innovate Faster
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