A Framework for Managing Innovation

INFORMS TutORials in Operations Research

38 Pages Posted: 24 Jun 2020 Last revised: 24 Aug 2020

See all articles by Stelios Kavadias

Stelios Kavadias

Cambridge Judge Business School

Jeremy Hutchison-Krupat

University of Cambridge - Judge Business School

Date Written: August 22, 2020

Abstract

Innovation is critical in all types of organizations. Yet, it remains one of the most challenging efforts to perform and manage. This paper attempts to provide three insights on the challenge to innovate: first, a conceptual framework that breaks the complexity of innovation efforts down into three key phases, namely ideation, selection and execution. We then review the extant literature that has emerged over the last 20 years on the management of innovation, highlighting studies that offer specific insights for each of the three phases of our framework. While admittedly we adopt an operations research/ operations management (OR/OM) perspective on the literature, we showcase the breadth, depth and relevance of this growing body of literature. Finally, we identify that there is no one standard recipe that enables innovation. Instead the activities, structures and rules to perform innovation depend on the type of innovation outcomes, incremental or radical, pursued by an organization.

Keywords: Innovation, Innovation Process, Idea generation, Portfolio Selection, Project Execution, Project Management

Suggested Citation

Kavadias, Stylianos and Hutchison-Krupat, Jeremy, A Framework for Managing Innovation (August 22, 2020). INFORMS TutORials in Operations Research , Available at SSRN: https://ssrn.com/abstract=3615824 or http://dx.doi.org/10.2139/ssrn.3615824

Stylianos Kavadias (Contact Author)

Cambridge Judge Business School ( email )

Trumpington Street
Cambridge, CB2 1AG
United Kingdom

Jeremy Hutchison-Krupat

University of Cambridge - Judge Business School ( email )

Trumpington Street
Cambridge, CB2 1AG
United Kingdom

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