METU NCC >Seminar >>How dynamic is your innovation process?

BUSINESS SEMINAR – Wednesday 8 April  16:00 -16:45  

Title:

How dynamic is your innovation process? A dynamic portfolio management approach.

Bob Hunt, Ph.D

Associate Professor and Director

Centre for Management Innovation and Technology

Macquarie Graduate School of Management, Macquarie University, Sydney, Australia

Abstract:

How do organisations manage their investments in innovation projects in a dynamic competitive environment? How do they achieve a balance of day-to-day innovations and breakthrough innovations to establish sustainable competitive advantage? These questions represent some of the primary challenges organisations face when developing new products and services in a continuously changing landscape. Technological change, increasing competition, new regulations and resource constraints can jeopardise the progress and success of innovation projects. Dynamic portfolio-level innovation processes are helping some organisations address these challenges.

Bob has recently overseen the completion of an in-depth study of the innovation processes used by some of Australia’s leading innovators. Bob will outline the dynamic portfolio-level approaches that are being used in both service- and manufacturing-based industries. He will show how innovation processes can be designed to allow organisations to respond to changes in the environment. He will also highlight the role of top management in developing a culture that supports the process. Successful organisations develop their innovation processes over time, incorporating feedback and making ongoing adjustments to the processes to suit their needs. They use a portfolio-level perspective for decision making that enables them to monitor the balance between project types and to implement changes when required. The process also helps to determine the appropriate level of firmness and flexibility for each project or situation.

To illustrate a dynamic project portfolio management approach to innovation, Bob will take you on an “idea’s journey” through the process. This journey will track an idea as it progresses through the innovation process, highlighting the organisational structures that support the process, the methods used and the decisions made along the way. Bob will also discuss some of the challenges organisations face and highlight the role of culture and commitment in the successful implementation of an innovation process. 

Biography:

Bob Hunt

Bob Hunt is Associate Professor in Management and Director, Centre for Management Innovation and Technology at Macquarie University’s Graduate School of Management, with campuses in Australia and Asia.  In the MGSMs Post Graduate Diploma, Master of Management, and MBA programs, Bob lectures in Operations Management and. Project Based Management. 

Bob’s current research is concerned with shortening cycle times and improving the processes of innovation, strategy and operations so that organisations become more flexible and responsive to stakeholder needs in today's increasingly turbulent global business environment. Bob has published more than 50 papers, books, management monographs, videos and case studies.  In 2002 Bob was awarded the prestigious Akao prize for his contributions to the development and dissemination of Quality Function Deployment (QFD), which provides a strong framework for innovation as well as for strategy development and implementation.