Innovation Management: Transformation of Innovation into Business
Prof. Dr. Andreas Reuter, HiTS
Abstract
According to the traditional Schumpeter theory, the process of introducing new products and services occurs in three progressive steps: invention, innovation, and diffusion. Known as innovation management in the current vernacular, it is clear that the other two steps must be included in order to be successful.
One frequently cited rule of thumb is that for every euro invested in research, 100 euros must go into development and 1,000 euros into marketing. This often results in more attention being devoted to the expensive phases, with the notion that the results from the one-euro phase can be bought pretty much anywhere.
The presentation will examine the various sides of this issue. This analysis will provide pointers for the intelligent design of the innovation process.
Prof. Dr. Andreas Reuter
Andreas Reuter is Professor of Computer Science at Heidelberg University. He is also director of the Heidelberg Institute for Theoretical Studies and the European Media Laboratory software company. Previously he held professorships at other universities as well as helped found a private university.
Prior to his academic career, he worked as a free-lance programmer in the areas of databases and online information systems.
Read more about the Heidelberg Institute for Theoretical Studies.