The Challenge of Product Innovation

Stefano Biazzo and Roberto Filippini
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Stefano Biazzo: University of Padua
Roberto Filippini: University of Padua

Chapter 2 in Product Innovation Management, 2021, pp 5-20 from Springer

Abstract: Abstract Although it is possible to “innovate” in all business activities, it is product innovation that plays a central role in creating value for the customer. Products materialize the value proposition of a company with a combination of tangible and intangible elements and are at the core of any business model (see Chap. 10 ). Product innovation requires human, financial, organizational and technical resources; it is a complex and risky activity. History teaches us that innovation initiatives fail frequently and that even successful innovators have difficulty sustaining their performance (Pisano, Harvard Business Review, 93(6), 44-54, 2015). Unsuccessful products undermine the company’s economic and financial viability and harm the company’s reputation. Product innovation is not an option; it is a necessity. In this chapter, we explore the phenomenon of product innovation in its multiple manifestations, to better understand the nature and complexity of the managerial and organizational challenges that companies have to face.

Date: 2021
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DOI: 10.1007/978-3-030-75011-4_2

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