Innovation Engineering outlines a systematic approach to innovation. The core concepts of innovation engineering include:
* Methods and tools for creation
* Commercializing viable ideas for implementation
Innovation in engineering expedites flow of innovations in the marketplace. It addresses the core needs of departments and subdivisions. It taps new opportunities and can affect the sales and profit margins dramatically.
Innovation is a four-stage process, which as are follows:
It also incorporates project management systems such as Six Sigma, Hoshin planning, and compression planning.
Creativity is observing what everyone is observing, but no one has thought of yet. Invention is translating those new ideas into proper products. Innovation goes further by improving those existing products. The necessity of the field of engineering is to convert thoughts into actions (ideas into products).
Engineers are the forerunners of technology and therefore drive innovation in each segment. Engineers should have better skills for facilitating innovative skills and fostering an innovative environment. Humanity reaps many benefits of innovative engineering, which is why effective learning and stimulating growth are necessary precursors to fostering such an environment conducive to innovation.
Describing Innovation in Engineering
Many factors play a role in innovation engineering apart from research and development. It involves end-to-end processes extracting value through practical implementation. Innovation consists of the following factors:
* Creating new methods, services, products and processes
* Viewing methods from a new angle entirely
* Producing new activities
* Moving beyond the established norms
* Improving the present processes
* Circulating new ideas and activities
* Promoting an innovative culture
* Adopting new methods and processes
Innovation is very important since it’s directly related to productivity. There are a number of factors for increasing productivity, innovation apart from these.
Due to lack of sustained innovation in an environment, expansion in labor-based economies will experience steady decline. A number of industries are important for necessary growth of a country such as telecom, mining, construction, and manufacturing industries. By increasing innovative processes in each field, economic prosperity of a nation can be increased.
Barriers Causing Innovation
Technological innovation is produced by much needed breakthroughs in technological research and development while redefining and improving methods and processes. All of these elements create more opportunities. The aim goal is to gauge the return on investment measuring the risk factor against in.
Apart from increased R&D funding, an innovative culture and climate is also needed whilst people with the right caliber are even more necessary for fostering an innovative environment. Mentioned below are the factors hindering an innovative environment:
* Incompetent/ lack of commitment and leadership from management
* Lack of finances
* Lack of undefined market needs/ challenges
* The R&D department being unable to produce innovative techniques
* Lack of culture of innovation
* Unaware customers and clients
* Focusing on cutting costs
* Averting risk at every corner
* Unwillingness to comply with standards
* Stringent government policies hindering innovative environment
* Incompetent staff
* Lack of financial/workforce capital
These factors have historically hindered the effective development of urban infrastructure and modernization. These need to be overcome if you need to realize the true potential of innovation engineering.