Nigeria's free digital learning hub. Videos, lecture notes, practice questions and leaderboards aligned with CCMAS, NBTE, NCCE, WAEC, NECO, IJMB and JAMB curricula.
Loading
Nigeria's free digital learning hub. Videos, lecture notes, practice questions and leaderboards aligned with CCMAS, NBTE, NCCE, WAEC, NECO, IJMB and JAMB curricula.
This is the complete lecture note for BUA 313 Innovation Management. You can read it online below, open it in the full viewer, or download the PDF for offline study. It pairs with the course's video lectures, so you can read and watch together.
LA-NET | ONLINE LEARNING VIDEO PLATFORM FOR POST-SECONDARY & HIGHER INSTITUTION STUDENTS
LA-NET | ONLINE LEARNING VIDEO PLATFORM FOR POST-SECONDARY & HIGHER INSTITUTION STUDENTS Series 1: Foundations of Innovation and Technology 1.1 Concept of Innovation and Technology • 1.1.1 Defining technology: meaning and scope • 1.1.2 Defining innovation: novelty and application • 1.1.3 Defining innovation management: integration of processes and practices 1.2 Principles and Dimensions of Innovation • 1.2.1 Core principles guiding innovation • 1.2.2 Dimensions of innovation: product, process, organisational, and marketing • 1.2.3 Importance of innovation for firm success 1.3 Historical and Contemporary Perspectives on Innovation • 1.3.1 Evolution of innovation thinking • 1.3.2 Contemporary approaches to innovation management • 1.3.3 Case examples of innovation in practice (placeholder for illustration: Figure 1.1) 1.4 Strategic Role of Innovation in Organisations • 1.4.1 Innovation as a driver of competitiveness • 1.4.2 Innovation and entrepreneurship linkages • 1.4.3 Challenges in managing innovation Introduction Innovation has become one of the most critical drivers of success in today’s fast-changing world. Organisations that fail to innovate often struggle to remain competitive, while those that embrace innovation are able to adapt, grow, and lead in their industries. As learners embarking on this course, it is important to first build a strong foundation by understanding what innovation and technology mean, how they are connected, and why managing them effectively is essential for both entrepreneurs and established firms. This Series sets the stage for the rest of the course by equipping you with the fundamental concepts and perspectives that will guide your study of innovation management. The aim of this Series is to introduce you to the basic principles of innovation and technology, and to help you appreciate their strategic role in organisations. By the end of this Series, you should be able to define key concepts, explain their relevance, and recognise how they underpin the broader study of innovation management. We shall commence this Series by examining the concept of innovation and technology, clarifying definitions and scope. Then, we will move on to the principles and dimensions of
LA-NET | ONLINE LEARNING VIDEO PLATFORM FOR POST-SECONDARY & HIGHER INSTITUTION STUDENTS innovation, highlighting its different forms and importance to organisational success. Subsequently, we will explore historical and contemporary perspectives, tracing how innovation thinking has evolved and how it is applied today. Finally, we will wrap up by considering the strategic role of innovation in organisations, linking it to competitiveness, entrepreneurship, and the challenges of managing innovation. This sequential flow will provide you with a clear and comprehensive foundation for the rest of the course. Series Learning Outcomes Upon completing this Series, you should be able to: • 2.1 define the concepts of technology, innovation, and innovation management, highlighting their scope and distinctions, • 2.2 explain the principles and dimensions of innovation, including product, process, organisational, and marketing forms, • 2.3 analyse historical and contemporary perspectives on innovation, demonstrating how innovation thinking has evolved over time, • 2.4 evaluate the strategic role of innovation in organisations, linking it to competitiveness, entrepreneurship, and managerial challenges. 1.1 Concept Of Innovation And Technology 1.1.1 Defining technology Technology refers to the application of scientific knowledge, tools, and techniques to solve problems or achieve specific objectives. It encompasses both tangible artefacts such as machines and intangible systems such as software and processes. Technology is not static, but evolves continuously as new discoveries and applications emerge. Fill in the blank: Technology can be described as the application of ______ knowledge to solve problems.
LA-NET | ONLINE LEARNING VIDEO PLATFORM FOR POST-SECONDARY & HIGHER INSTITUTION STUDENTS 1.1.2 Defining innovation Innovation is the process of creating and applying new ideas, methods, or products that bring about improvement or change. Unlike invention, which is the creation of something entirely new, innovation focuses on the practical application and diffusion of ideas to generate value. Innovation can occur in products, services, processes, or organisational methods. Fill in the blank: Innovation differs from invention because it emphasises ______ and diffusion of ideas.
LA-NET | ONLINE LEARNING VIDEO PLATFORM FOR POST-SECONDARY & HIGHER INSTITUTION STUDENTS 1.1.3 Defining innovation management Innovation management is the systematic planning, organisation, and monitoring of innovation activities within an organisation. It involves coordinating resources, processes, and people to ensure that innovative ideas are generated, developed, and implemented effectively. Innovation management bridges creativity with structured execution, ensuring that innovation contributes to organisational success. Fill in the blank: Innovation management involves coordinating ______, processes, and people to implement ideas effectively.
LA-NET | ONLINE LEARNING VIDEO PLATFORM FOR POST-SECONDARY & HIGHER INSTITUTION STUDENTS Pilot questions 1.1 1. Which term refers to the application of scientific knowledge to solve problems? 2. What distinguishes innovation from invention? 3. What are the three pillars of innovation management? 4. Why is technology considered dynamic rather than static? 5. How does innovation management link creativity to organisational success? 1.2 Principles And Dimensions Of Innovation
LA-NET | ONLINE LEARNING VIDEO PLATFORM FOR POST-SECONDARY & HIGHER INSTITUTION STUDENTS 1.2.1 Core principles guiding innovation Principles of innovation are the fundamental ideas that shape how innovation is approached and managed. These include creativity, value creation, adaptability, and sustainability. Creativity ensures that new ideas are generated, while value creation ensures that these ideas benefit customers or organisations. Adaptability allows innovations to respond to changing environments, and sustainability ensures that innovations remain viable over time. Fill in the blank: One of the core principles of innovation is ______, which ensures ideas benefit customers or organisations. 1.2.2 Dimensions of innovation: product, process, organisational, and marketing
LA-NET | ONLINE LEARNING VIDEO PLATFORM FOR POST-SECONDARY & HIGHER INSTITUTION STUDENTS Dimensions of innovation refer to the different areas where innovation can occur. • Product innovation involves introducing new or improved goods and services. • Process innovation focuses on improving production or delivery methods. • Organisational innovation relates to new ways of structuring or managing organisations. • Marketing innovation involves new strategies for promotion, pricing, or distribution. These dimensions highlight that innovation is not limited to products alone, but can transform how organisations operate and compete. Fill in the blank: Innovation in pricing and promotion strategies is referred to as ______ innovation.
This is the opening of the note. Read the full note or download the PDF to continue.
