According to Dodgson et al, innovation management is:

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Question: According to Dodgson et al, innovation management is:

Option 1: The successful application of new ideas, which results from organizational processes that combine various resources to that end while producing benefits for the organization and its employees, customers, clients and partners; it is an outcome and a process too, a fact and an act.

Option 2: The science of applying new ideas always representing breakthroughs at the cutting edge of science; hence, always successful revolutionary business models, products and services.

Option 3: A framework to combine and coordinate resources like people, knowledge, finance, technology, physical spaces, networks, and their capabilities and skills, aiming to identify the needs of an organization’s employees, customers, clients and partners.

Option 4: Seeking out new ways of achieving results, based on an analytical assessment of past projects.

Option 1 analysis:
- This option frames innovation management as both a process and an outcome, emphasizing the integration of resources to achieve benefits for multiple stakeholders. It captures the dual nature of managing innovation (the activities/processes and the resulting value) which aligns with Dodgson et al.'s view that innovation management involves systematic practices that lead to beneficial results for the organization and its ecosystem.
- The phrase about combining resources (people, knowledge, finance, technology, spaces, networks, and skills) and delivering benefits to employees, customers, clients, and partners reflects a holistic, resource‑oriented perspective typical in innovation management literature.

Option 2 analysis:
- This statement overqualifies and oversimplifies by insisting on breakthroughs at the cutting edge and guaranteed success. In reality, innovation management encompasses both successful and failed attempts, and not all ideas become breakthroughs. Therefore, this option misrepresents the scope and probabilistic nature of managing innovation.

Option 3 analysis:
- While it describes assembling and coordinating resources, the emphasis on identifying the needs of stakeholders makes it sound more like a general resource management framework rather than specifically defining innovation management. It shifts focus toward needs assessment rather than the end-to-end process of pursuing and applying new ideas that create value.

Option 4 analysis:
- This option suggests a narrow, retrospective approach based on past projects, which does capture some empirical aspects of innovation but fails to articulate the proactive, systematic management of innovative ideas and the generation of new value. It neglects the forward‑looking, organizational process elements central to innovation management.

Synthesis:
- Among the options, the first statement best embodies both dimensions highlighted by the literature: innovation management as the deliberate process of applying new ideas through coordinated organizational activities that yield tangible benefits for a broad set of stakeholders. The other options either overstate guarantees, misstate the scope, or describe only a subset of what innovation management encompasses.

PMGT2855 CIVL4819 (ND) Week 6: Pre-tutorial Quiz

According to Dodgson et al, innovation management is:

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