Metrics for Innovation of Product – the Basis for Continuous Improvement of an Organization

Marieta Olaru; Andrei Hohan; Andreea Maier; Dorin Maier

doi:doi:10.11648/j.sjbm.20130101.15

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Metrics for Innovation of Product – the Basis for Continuous Improvement of an Organization

Marieta Olaru, Andrei Hohan, Andreea Maier, Dorin Maier

Published in Science Journal of Business and Management (Volume 1, Issue 1)

Received: 15 June 2013 Published: 10 July 2013

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Abstract

Innovation is becoming more and more important in modern society. There are a lot of researches on different kinds of innovation, product innovation is one of the most studied types of innovation and it refers to the development of goods or service characteristics or with intent to use which differs significantly from previous products made by the company. Innovative product includes significant changes in the technical specifications in components and materials, incorporated software, user friendliness or other functional characteristics. The study shows some key elements of product innovation that are worth paying attention when implementing product innovation projects. Examples of such key elements are the characteristics of new products or strategic options for launching a new product. Beside the key elements of product innovation, we also present some risks that may occur, such as cost, market uncertainty, information leakage, imitation and over depending on experience. By proposing a set of indicators to measure product innovation, the article offers solutions for product innovation implementation so that any organization can have a base for continuous achievement of optimal results.

Published in	Science Journal of Business and Management (Volume 1, Issue 1)
DOI	10.11648/j.sjbm.20130101.15
Page(s)	26-30
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2013. Published by Science Publishing Group

Keywords

Innovation, Product Innovation, New Products, Performance in an Organization, Management Systems

References

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[11]	J. Zhang, Empirical study on the impact of market orientation and innovation orientation on new product performance of Chinese manufacturers, Nankai Business Review International, vol. 1, nr. 2, pag. 214-231, 2010.
[12]	Organisation for Economic Co-operation and Development (OECD), Oslo Manual: Guidelines for Collecting and Interpreting Innovation Data, The Measurement of Scientific and Technological Activities, 2005
[13]	J. Buijs, "Modelling Product Innovation Processes from Linear Logic to Circular Chaos", Creativity and Innovation Management, vol. 12, nr. 2, pag. 76-93, 2003.
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[19]	R. Cooper, "The Strategy-Performance Link in Product Innovation", R&D Management , vol. 14, nr. 4, pag. 247–259, 2007.
[20]	A. Maier, D. Nicoară, D. Maier, M. Suarasan, A. Anastasiu, „Achieving performance in an organization through marketing innovation", International Conference on Innovation and Marketing, International Journal of Social and Human Sciences, Veneţia, Italia, 2013

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APA Style

Marieta Olaru, Andrei Hohan, Andreea Maier, Dorin Maier. (2013). Metrics for Innovation of Product – the Basis for Continuous Improvement of an Organization. Science Journal of Business and Management, 1(1), 26-30. https://doi.org/10.11648/j.sjbm.20130101.15

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ACS Style

Marieta Olaru; Andrei Hohan; Andreea Maier; Dorin Maier. Metrics for Innovation of Product – the Basis for Continuous Improvement of an Organization. Sci. J. Bus. Manag. 2013, 1(1), 26-30. doi: 10.11648/j.sjbm.20130101.15

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AMA Style

Marieta Olaru, Andrei Hohan, Andreea Maier, Dorin Maier. Metrics for Innovation of Product – the Basis for Continuous Improvement of an Organization. Sci J Bus Manag. 2013;1(1):26-30. doi: 10.11648/j.sjbm.20130101.15

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@article{10.11648/j.sjbm.20130101.15,
  author = {Marieta Olaru and Andrei Hohan and Andreea Maier and Dorin Maier},
  title = {Metrics for Innovation of Product – the Basis for Continuous Improvement of an Organization},
  journal = {Science Journal of Business and Management},
  volume = {1},
  number = {1},
  pages = {26-30},
  doi = {10.11648/j.sjbm.20130101.15},
  url = {https://doi.org/10.11648/j.sjbm.20130101.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.sjbm.20130101.15},
  abstract = {Innovation is becoming more and more important in modern society. There are a lot of researches on different kinds of innovation, product innovation is one of the most studied types of innovation and it refers to the development of goods or service characteristics or with intent to use which differs significantly from previous products made by the company. Innovative product includes significant changes in the technical specifications in components and materials, incorporated software, user friendliness or other functional characteristics. The study shows some key elements of product innovation that are worth paying attention when implementing product innovation projects. Examples of such key elements are the characteristics of new products or strategic options for launching a new product. Beside the key elements of product  innovation, we also present some risks that may occur, such as cost, market uncertainty, information leakage, imitation and over depending on experience. By proposing a set of indicators to measure product innovation, the article offers solutions for product innovation implementation so that any organization can have a base for continuous achievement of optimal results.},
 year = {2013}
}

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TY  - JOUR
T1  - Metrics for Innovation of Product – the Basis for Continuous Improvement of an Organization
AU  - Marieta Olaru
AU  - Andrei Hohan
AU  - Andreea Maier
AU  - Dorin Maier
Y1  - 2013/07/10
PY  - 2013
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DO  - 10.11648/j.sjbm.20130101.15
T2  - Science Journal of Business and Management
JF  - Science Journal of Business and Management
JO  - Science Journal of Business and Management
SP  - 26
EP  - 30
PB  - Science Publishing Group
SN  - 2331-0634
UR  - https://doi.org/10.11648/j.sjbm.20130101.15
AB  - Innovation is becoming more and more important in modern society. There are a lot of researches on different kinds of innovation, product innovation is one of the most studied types of innovation and it refers to the development of goods or service characteristics or with intent to use which differs significantly from previous products made by the company. Innovative product includes significant changes in the technical specifications in components and materials, incorporated software, user friendliness or other functional characteristics. The study shows some key elements of product innovation that are worth paying attention when implementing product innovation projects. Examples of such key elements are the characteristics of new products or strategic options for launching a new product. Beside the key elements of product  innovation, we also present some risks that may occur, such as cost, market uncertainty, information leakage, imitation and over depending on experience. By proposing a set of indicators to measure product innovation, the article offers solutions for product innovation implementation so that any organization can have a base for continuous achievement of optimal results.
VL  - 1
IS  - 1
ER  -

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Author Information

Marieta Olaru

University of Economic Studies, Bucharest, Romania
Andrei Hohan

University of Economic Studies, Bucharest, Romania
Andreea Maier

Technical University, Cluj Napoca, Romania
Dorin Maier

Technical University, Cluj Napoca and University of Economic Studies, Bucharest, Romania

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APA Style

Marieta Olaru, Andrei Hohan, Andreea Maier, Dorin Maier. (2013). Metrics for Innovation of Product – the Basis for Continuous Improvement of an Organization. Science Journal of Business and Management, 1(1), 26-30. https://doi.org/10.11648/j.sjbm.20130101.15

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ACS Style

Marieta Olaru; Andrei Hohan; Andreea Maier; Dorin Maier. Metrics for Innovation of Product – the Basis for Continuous Improvement of an Organization. Sci. J. Bus. Manag. 2013, 1(1), 26-30. doi: 10.11648/j.sjbm.20130101.15

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AMA Style

Marieta Olaru, Andrei Hohan, Andreea Maier, Dorin Maier. Metrics for Innovation of Product – the Basis for Continuous Improvement of an Organization. Sci J Bus Manag. 2013;1(1):26-30. doi: 10.11648/j.sjbm.20130101.15

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@article{10.11648/j.sjbm.20130101.15,
  author = {Marieta Olaru and Andrei Hohan and Andreea Maier and Dorin Maier},
  title = {Metrics for Innovation of Product – the Basis for Continuous Improvement of an Organization},
  journal = {Science Journal of Business and Management},
  volume = {1},
  number = {1},
  pages = {26-30},
  doi = {10.11648/j.sjbm.20130101.15},
  url = {https://doi.org/10.11648/j.sjbm.20130101.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.sjbm.20130101.15},
  abstract = {Innovation is becoming more and more important in modern society. There are a lot of researches on different kinds of innovation, product innovation is one of the most studied types of innovation and it refers to the development of goods or service characteristics or with intent to use which differs significantly from previous products made by the company. Innovative product includes significant changes in the technical specifications in components and materials, incorporated software, user friendliness or other functional characteristics. The study shows some key elements of product innovation that are worth paying attention when implementing product innovation projects. Examples of such key elements are the characteristics of new products or strategic options for launching a new product. Beside the key elements of product  innovation, we also present some risks that may occur, such as cost, market uncertainty, information leakage, imitation and over depending on experience. By proposing a set of indicators to measure product innovation, the article offers solutions for product innovation implementation so that any organization can have a base for continuous achievement of optimal results.},
 year = {2013}
}

Copy | Download

TY  - JOUR
T1  - Metrics for Innovation of Product – the Basis for Continuous Improvement of an Organization
AU  - Marieta Olaru
AU  - Andrei Hohan
AU  - Andreea Maier
AU  - Dorin Maier
Y1  - 2013/07/10
PY  - 2013
N1  - https://doi.org/10.11648/j.sjbm.20130101.15
DO  - 10.11648/j.sjbm.20130101.15
T2  - Science Journal of Business and Management
JF  - Science Journal of Business and Management
JO  - Science Journal of Business and Management
SP  - 26
EP  - 30
PB  - Science Publishing Group
SN  - 2331-0634
UR  - https://doi.org/10.11648/j.sjbm.20130101.15
AB  - Innovation is becoming more and more important in modern society. There are a lot of researches on different kinds of innovation, product innovation is one of the most studied types of innovation and it refers to the development of goods or service characteristics or with intent to use which differs significantly from previous products made by the company. Innovative product includes significant changes in the technical specifications in components and materials, incorporated software, user friendliness or other functional characteristics. The study shows some key elements of product innovation that are worth paying attention when implementing product innovation projects. Examples of such key elements are the characteristics of new products or strategic options for launching a new product. Beside the key elements of product  innovation, we also present some risks that may occur, such as cost, market uncertainty, information leakage, imitation and over depending on experience. By proposing a set of indicators to measure product innovation, the article offers solutions for product innovation implementation so that any organization can have a base for continuous achievement of optimal results.
VL  - 1
IS  - 1
ER  -

Copy | Download