Innovation generation is a top priority for firms, but can be hard to navigate. As a consequence, some managers find it difficult to assess the many ways in which their firm can innovate. To help managers on their journey, this chapter provides an overview of the types of innovation that exist (the “what” of innovation), the primary sources which generate innovation inside and outside the firm (the “who” of innovation), and the process the firm may use to generate innovation (the “how” of innovation). The authors synthesize prior work, both academic and managerial, on innovation generation and incorporate many illustrations from both startups and multinationals. In this manner, this chapter provides a rich assortment of innovation generation options for managers to consider as they seek to increase the innovation generation potential of their firm.
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