Innovation Management Techniques and Tools: A Review from Theory and Practice

Knowledge is considered to be an economic driver in today's economy. It has become a commodity, a resource that can be packed and transferred. The objective of this paper is to provide a comprehensive review of the scope, trends and major actors (firms, organizations, government, consultants, academia, etc.) in the development and use of methods to manage innovation in a knowledge-driven economy. The paper identifies the main innovation management techniques (IMTs) aiming at the improvement of firm competitiveness by means of knowledge management. It will specifically focus on those IMTs for which knowledge is a relevant part of the innovation process. The research study, based on a survey at the European level, concludes that a knowledge-driven economy affects the innovation process and approach. The traditional idea that innovation is based on research (technology-push theory) and interaction between firms and other actors has been replaced by the current social network theory of innovation, where knowledge plays a crucial role in fostering innovation. Simultaneously, organizations in both public and private sectors have launched initiatives to develop methodologies and tools to support business innovation management. Higher education establishments, business schools and consulting companies are developing innovative and adequate methodologies and tools, while public authorities are designing and setting up education and training schemes aimed at disseminating best practices among all kinds of businesses.

[1]  Kevin Crowston,et al.  Methods for modeling and supporting innovation processes in SMEs , 2005 .

[2]  G. Dosi,et al.  Technological Paradigms and Trajectories , 2007 .

[3]  Simon McGrath.  Knowledge Development , 2002 .

[4]  Sundaresan Ram,et al.  Validation of Expert Systems for Innovation Management: Issues, Methodology, and Empirical Assessment , 1996 .

[5]  G. Dosi.  Technological Paradigms and Technological Trajectories: A Suggested Interpretation of the Determinants and Directions of Technical Change , 1982 .

[6]  David Rooney,et al.  The knowledge-based economy: Savant or sage? , 2003 .

[7]  L. Engwall,et al.  Management Consulting : Emergence and Dynamics of a Knowledge industry , 2003 .

[8]  John Cullen,et al.  Democratizing Innovation , 2020, Encyclopedia of Creativity, Invention, Innovation and Entrepreneurship.

[9]  B. Verspagen,et al.  Systems of Innovation , 2009 .

[10]  John Child,et al.  Innovation and management : international comparisons , 1988 .

[11]  Chun Wei Choo,et al.  Innovation and knowledge creation: How are these concepts related? , 2006, Int. J. Inf. Manag..

[12]  J. Schumpeter,et al.  The Theory of Economic Development , 2017 .

[13]  G. Ahuja.  Collaboration Networks, Structural Holes, and Innovation: A Longitudinal Study , 1998 .

[14]  Allan Afuah,et al.  Innovation Management: Strategies, Implementation, and Profits , 1997 .

[15]  G. O'Connor,et al.  Managing radical innovation: an overview of emergent strategy issues , 2002 .

[16]  Jeff Butler.  A practical model for technology and innovation management , 1999, PICMET '99: Portland International Conference on Management of Engineering and Technology. Proceedings Vol-1: Book of Summaries (IEEE Cat. No.99CH36310).

[17]  P. Drucker.  The Age of Discontinuity: Guidelines to Our Changing Society , 1969 .

[18]  S. Liyanage,et al.  Technology and innovation management learning in the knowledge economy , 2003 .

[19]  Jens J. Dahlgaard,et al.  Integrating business excellence and innovation management: Developing vision, blueprint and strategy for innovation in creative and learning organizations , 1999 .

[20]  Rolf Stachowitz,et al.  Validation of expert systems , 1988 .

[21]  Rod Coombs,et al.  The Management of Technological Innovation , 2002 .

[22]  H. Chesbrough.  The Era of Open Innovation , 2003 .

[23]  Patel Parimal,et al.  National Innovation Systems: Why They Are Important, And How They Might Be Measured And Compared , 1994 .

[24]  B. Schlegelmilch,et al.  Strategic innovation: the construct, its drivers and its strategic outcomes , 2003 .

[25]  B. Godin.  The Knowledge-Based Economy: Conceptual Framework or Buzzword? , 2006 .

[26]  C. Freeman.  Economics of Industrial Innovation , 1975 .

[27]  K. Urabe,et al.  Innovation and the Japanese Management System , 1988 .

[28]  R. Mcfall.  Production and Distribution , 1930 .

[29]  Nathan Rosenberg,et al.  An Overview of Innovation , 2009 .

[30]  Rod Coombs,et al.  `Knowledge management practices' and path-dependency in innovation , 1998 .

[31]  M. Young.  The rise of the meritocracy, 1870-2033 : an essay on education and equality , 1961 .

[32]  C. Edquist.  Systems of Innovation: Technologies, Institutions and Organizations , 1997 .

[33]  Mark Dodgson,et al.  Technology Learning, Technology Strategy and Competitive Pressures , 1991 .

[34]  Michael L. Tushman,et al.  Technology Cycles, Innovation Streams and Ambidextrous Organizations , 1997 .

[35]  Rosanna Garcia,et al.  A critical look at technological innovation typology and innovativeness terminology: a literature review , 2002 .

[36]  P. Drucker,et al.  Looking ahead: implications of the present. , 1997, Harvard business review.

[37]  James M. Utterback,et al.  Mastering the Dynamics of Innovation: How Companies Can Seize Opportunities in the Face of Technological Change , 1994 .

[38]  Tom R. Burns,et al.  The Management of Innovation. , 1963 .

[39]  P. Drucker,et al.  The age discontinuity. , 1979, Population bulletin.

[40]  Mark Dodgson,et al.  The Management Of Technological Innovation , 2000 .

[41]  H.-J. Bullinger,et al.  Managing innovation networks in the knowledge-driven economy , 2004 .

[42]  M. Young.  The rise of the meritocracy, 1870-2033 : the new elite of our social revolution , 1959 .

[43]  O. Manual,et al.  Organisation for Economic Co-operation and Development the Measurement of Scientific and Technological Activities Proposed Guidelines for Collecting and Interpreting Technological Innovation Data , 2022 .

[44]  J. Schumpeter.  The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle , 1934 .

[45]  Peter Maskell,et al.  Social Capital, Innovation, and Competitiveness , 2000 .

[46]  E. von Hippel,et al.  Sources of Innovation , 2016 .

[47]  Daniel A. Levinthal,et al.  ABSORPTIVE CAPACITY: A NEW PERSPECTIVE ON LEARNING AND INNOVATION , 1990 .

[48]  James M. Utterback,et al.  Mastering the Dynamics of Innovation , 1996 .

[49]  M. Tushman,et al.  Managing Strategic Innovation and Change: A Collection of Readings , 1996 .

[50]  E. Rogers,et al.  Diffusion of innovations , 1964, Encyclopedia of Sport Management.

[51]  Fritz Machlup.  The Production and Distribution of Knowledge in the United States , 1962 .

[52]  R. Cordero.  Managing for speed to avoid product obsolescence: A survey of techniques , 1991 .

[53]  Ben Dankbaar.  Innovation Management in the Knowledge Economy , 2003 .

[54]  Malcolm Peltu,et al.  Knowledge management practices for innovation: an audit tool for improvement , 2000, Int. J. Technol. Manag..

[55]  Colin Clark,et al.  The Conditions of Economic Progress. , 1941 .

[56]  Luciana Libutti.  Building competitive skills in small and medium-sized enterprises through innovation management techniques: overview of an Italian experience , 2000, J. Inf. Sci..

[57]  Robert Phaal,et al.  Technology management tools: concept, development and application , 2006 .

[58]  Dominique Foray,et al.  Organisation for Economic Co-operation and Development Directorate for Science, Technology and Industry Committee for Scientific and Technological Policy Dsti/stp/tip(94)4 Working Group on Innovation and Technology Policy Accessing and Expanding the Science and Technology Knowledge Base Complete Doc , 2022 .