Innovation and Technology Management

Jürgen Hambrecht
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Jürgen Hambrecht: BASF SE

Chapter 5 in Handbook Utility Management, 2008, pp 73-88 from Springer

Abstract: Abstract Innovation is an essential driver for profitable growth and the key to our future. It enables us to meet future challenges and ensure sustainable development. In order to turn new ideas into market success, innovation management needs to balance two decisive factors: room for creativity on the one hand, and clearly structured processes on the other. Selecting the right key performance indicators is a crucial basis for evaluating performance achievement. As innovation issues become more complex, companies are becoming more receptive to open innovation processes and cooperating with academia as well as with customers. To enhance their innovative strength, companies need to establish a culture of innovation within their organizations. They also need to contribute to an innovation-friendly climate in society.

Keywords: innovation; market conditions; sustainability (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1007/978-3-540-79349-6_5

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