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Published in:
2011 | OriginalPaper | Chapter
8. The Drive to Innovate
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Abstract
Innovations, whether they are outcomes of imagination, creativity, or both, come from corporate entities. Corporations present new products to the marketplace. The products may be radical innovations, breakthroughs, incremental innovations, or just run-of-the-mill line extensions. Corporations manage the present by developing and introducing products and processes incrementally by using sustaining technologies, or manage the future by radical innovations that are produced by disruptive technologies (Christensen 2003). Radical innovations evolve from thinking outside of the box. This means that the company, along with its current portfolio, is developing a futuristic product portfolio (Samli 2007). If the portfolio is exclusively dealing with incremental changes, it is not futuristic. Making nominal changes or improvements in the existing product offering is not indicating the extent and the force of the company’s drive to innovate. Futuristic portfolios are not typical instruments of corporate planning.