Managed Innovation International

Currently, the popular press has a pronounced fondness for the word “innovation”. Businesses and governments are heralding the resurgence of biotechnology and internet companies – businesses that are all about being new and groundbreaking – along with a general need for the economy to become more innovative. The media is extolling the virtues of entrepreneurs and innovators as the new business gurus. Established companies are also embracing the drive to become more innovative. The word “innovation” is appearing in corporate mission and vision statements and core capabilities lists.

The question that is not being addressed is what does innovation mean to established companies and, furthermore, how can their innovation performance be improved? The purpose of this paper is to demystify innovation for established organisations and to outline the elements that make up innovation performance.

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Swinburne Industry Synergy Grant Project

Development and Validation of an Innovation Diagnostic and Measuring Instrument

Managed Innovation International (MII) is pleased to demonstrate its commitment to Australian innovation by collaborating in research with the Australian Graduate School of Entrepreneurship, (AGSE). In 2004, Swinburne University of Technology offered the opportunity for its staff and industry to collaborate under proposals for an Industry Synergy Grant. The annual grants are aimed at stimulating innovation and enhancing the nature and scope of Swinburne's relationships with industry partners. MII teamed with Dr Shahid Yamin and Allan O’Connor of the AGSE at Swinburne on a project to develop and validate an Innovation Diagnostic and Measuring Instrument that will provide substantial benefits to MII clients and grow the academic insight for the AGSE into the workings of industry, for both teaching and research purposes.

The Research Project, completed in August 2004, provided a new generation of innovation diagnostic tools and assisted MII to pinpoint the organisational weaknesses in growing innovation capacity. The project foreshadowed a long term relationship between the AGSE and MII. Allan Ryan, Director of MII says “We have taken the long term view that improved innovation performance is vital to the ongoing success of our industries and further more our country. The support of this project is only the first step in validating and improving the tools, processes and methods used by MII”.

ViewExecutive Summaryof the Swinburne Synergy Grant Research Project.

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