This text provides informative, short introductions to the core concepts of Operations Management. This text contains more than 50 concept entries and is fully cross-referenced.An outstanding reference for Operations Management students at all levels. 

Managing Innovation

Managing innovation

Innovation management is the set of managerial activities dedicated to the deployment of innovation resources in order to bring new products, services, and processes into the marketplace.

Overview of Innovation Management

Perhaps one of the industries where managing innovation is most critical is the pharmaceutical industry. Companies which are unable to formulate new drugs at the same speed as their competitors will be unable to lock in large margins through patent protection, and will then be left with the exploitation of known, and therefore low-margin, drugs.

A common misperception is to equate innovation with design. Whereas design is the final technical specification of a given product or service form and function, innovation is more generally the set of activities through which ideas are elicited, selected, ...

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