Serendipitous and strategic innovation: a systems approach to managing science-based innovation

In: Technology, innovation, and knowledge management

Abstract

Innovation is a time-consuming process that involves invention as a beginning and a marketable service or product as an end. But innovation itself, once concluded, is not necessarily a constructive act as some innovations yield positive and some negative results. The way we recognize and develop innovation-so often a serendipitous and almost invisible act in its beginning-is thus a matter of primary importance in today's world where new thoughts and products play such a crucial role in economies across the globe. Nowhere is the general support structure required for success in innovation more.