Innovating & D

eveloping New
Industries Thro Products &
ugh Strengthe
Knowledge Bas ning
ed Competitive
Advantages

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 t i
n o va
In • n
oInnovation is a process that includes the
technical, manufacturing, management
and commercial activities involved in the
marketing of a new (or improved)
product or the first use of a new
(improved) manufacturing process or

Slide by Anzir Mahmud

Mustangs
A culture for
innovation
• National Innovation
system
– Internal organization of
firms
• Technological innovations
• Organizational
innovations
• Social innovation
– Inter-firm linkages

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Policies for promoting
NIS
• Policy formulation,
implementation, monitoring
and evaluation
– Policy formulation
– Policy implementation
– Monitoring and evaluation

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Contd….• Prom
oting
linka inter
ges -firm
– Prom
o
linka ting hor
ges izont
– Str al in
engt ter-f
firm- heni irm
linka ng vert
ges ical i
nter-

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Contd…….

• Promoting links between science and

industry.
• Formation of innovative
entrepreneurs

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A culture for innovation
inter firms
– Human Resources
• Ability of management to
encourage new ideas.
• Rewarding staff

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 Continued……

•Organizational
structure and
management
Factors
influencing
innovation with
Organization
structure and
management
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Managing the process for
innovation
• The process
– New product Development
– Marketing
– Production
– Finance

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Components of innovation in production

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Finance as a component of
innovation

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 Manag
in g the p
rocess
innova fo
tioanrketing r
ti o n s h ip m
1 . Rel a d e
5 o . a t t i tu
p s a n - d
To ctor 2. A . C
c o n s t a n t
F a r i v e f o r
3. St m e n t
impro v e l o g y
t t ec h n o
th e b e s i a l
4. U s e d f in a n c
a l cu l a t e
e a c
5. Tak Mustangs
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Implementation of
innovation
The system
– Macro
Environment
– Networks
– Customers
– Suppliers

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 Macro
Environment
h ic
r a p
og i v e
e i t
üG p e t
e nt
C om ronm
ü nvi g y
E o l o nt
n
h cem e
e c
ü T dvan
A i c al ent
o lit nm
ü P nviro
E ic
n o m e nt
Eco onSlide mby Anzir Mahmud
rs Mustangs
Networks

Network factor that influence innovation

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 Customers
Customer factors that influence
innovation

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Suppliers
Supply factors for
innovation

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• 5 fac
tors fo
innova r imple
tion menta
– Know tion of
an
assista d use of go
nce vernm
– Keep ent
up with
– Netw techno
ork . h logy
– Cust orizont
omer i ally an
s King d verti
– Keep cally
your su
ppliers
close

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critical success
factors
Initiating new product
development and product
adaptation
Relationship marketing
Technology
Networks
Investment in human capital
Government assistance
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Conclusi
on innovative firms adopt a ra
formalized to b nge of
e successful in
industries their
h n i q u e s l i s ted
t h e sa m e tec
Adoption of o f i n n o v a t i o n .
f o st er i n g
for the
the study identified
formalized practice
and behavioral asp s
ects. Equally
important in achiev
ing innovation.
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SPECIAL THANKS to our
Course teacher
• Md. Nur Alam

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It’s a Mustangs
presentation

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