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The New Principles of Management

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Andrzej Kozminski and Dariusz Jemielniak

The New Principles of Management is a textbook meant for European students of principles of management. Developed basing mainly on international cases as well as drawing from international examples of managerial practices, it attempts to address the needs of globalized companies better than other, typically US-centric textbooks. The New Principles of Management challenges many of the fossilized and outdated management notions and covers the topics most relevant for modern 21st century organizations, rather than their historic developments.

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CHAPTER TWELVE. INNOVATION AND ENTREPRENEURSHIP

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CHAPTER TWELVE INNOVATION AND ENTREPRENEURSHIP 298 Chapter Twelve Key terms and definitions Theory Practical tips A selection of theories and beliefs Types of innovation The S-curve Taylor’s innovation Case Studies Wikipedia – the information revolution Ford – what innovation? Palma de Kraśnik The truth will surprise you Innovation and entrepreneurship: Crossword Supplementary reading Innovation and Entrepreneurship “If you don’t fail now and again, it’s a sign you’re playing it safe.” Woody Allen Key terms and definitions Innovation is “something new,” “something that has not been done before.” This term is has a positive connotation of something that has been purposely designed and realized with a view to a certain value such as gaining new customers or decreasing costs. Over the last decades, thousands of scientific works have been published on innovation in the social sciences. In the theory and practice of management there is a dominant utilitarian approach to innovation. In this sense, innovation should make the realization of the organizational mission possible. Innovation is the result of a series of undertakings that are designed with a view to obtaining a certain effect, although they are not always fully controlled by anybody. In terms of managing an organization, there are two types of pro- innovative undertakings: • Product innovation involves changes in the offer that an organization addresses to its environment. These can be fundamental or superficial changes, such as introducing an additional product or service or improving a product that is already included in the offer. An example could be home...

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