Preconditions for the Management of Invention-Innovation Diffusion Process

2014 ◽  
Vol 2 (1) ◽  
pp. 39-50
Author(s):  
Zdenka Zenko ◽  
Matjaz Mulej
Keyword(s):  
Diffusion Process ◽  
Innovation Diffusion ◽  
Educational Level ◽  
Innovation Management ◽  
Social Systems ◽  
Management Process ◽  
Complex Process ◽  
The Difference ◽  
Innovation Diffusion Process ◽  
Process Managers

This paper contributes to improvement of innovation management. An idea to be developed into an innovation needs a successfully managed whole invention-innovation-diffusion process. Innovation management remains a complex process. Managers with their specialist´s narrow viewpoint can hardly be holistic enough. The difference in knowledge, educational level and specialization among entrepreneurs in SME and researchers in institutions contributes to the difficult cooperation among them. With dialectical systems theory the most important viewpoints can be selected and with the law of requisite holism the innovation management process can become manageable and successful. To support diffusion of inventions their cooperation should be based on ethics of interdependence. Inventions become innovations when purchased and used in social systems as a result of IIDP. Many crises were identified after 2008 and socially responsibly behaving management could be one of the possible solutions.

scholarly journals An Inventory Decision Model When Demand Follows Innovation Diffusion Process under Effect of Technological Substitution

2013 ◽  
Vol 2013 ◽  
pp. 1-10
Author(s):  
K. K. Aggarwal ◽  
Chandra K. Jaggi ◽  
Alok Kumar
Keyword(s):  
Diffusion Process ◽  
Innovation Diffusion ◽  
Inventory Management ◽  
Technological Development ◽  
New Products ◽  
Evolutionary Process ◽  
Optimal Solution ◽  
Demand Model ◽  
Ordering Policies ◽  
Innovation Diffusion Process

The concept of marketing literature, especially innovation diffusion concept, plays a pivotal role in developing EOQ models in the field of inventory management. The integration of marketing parameters, especially the idea of diffusion of new products with the inventory models, makes the models more realistic which is most essential while building the economic ordering policies of the products. Also, because of rapid technological development, the diffusion of technology can also be viewed as an evolutionary process of replacement of an old technology by a new one. Therefore, the effect of technological substitution along with the diffusion of new products must be taken into account while formulating economic ordering policies in an inventory model. In this paper, a mathematical model has been developed for obtaining the Economic Order Quantity (EOQ) in which the demand of the product is assumed to follow an innovation diffusion process as proposed by Fourt and WoodLock (1960). The idea of effect of technological substitution of products has been incorporated in the demand model to make the economic ordering policies more realistic. A numerical example with sensitivity analysis of the optimal solution with respect to different parameters of the system is performed to illustrate the effectiveness of the model.

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