Five Generation Models Free Essay Example, 2000 words

The paper tells that each of the first five generation models seemed to focus mainly on one part of the innovation process and yet for success to be achieved, one has to incorporate the full cycle without preference. Key elements to put into consideration in the journey to exploit the whole cycle is aiming at boosting competitiveness and financial security. The First Generation Model (Technological Push) describes innovation as being pulled by technological needs. Innovation in the technological field has to be a continuous process. This is the bit that makes all the difference as there are companies that can keep up and those that cannot. A form of discontinuity in innovation may destroy a company s competitiveness, Hamel. He describes innovation capability as a means by which inventive productions can be facilitated. Consistency is therefore very essential in this model, a company needs to have proactive innovators to fuel the novelty. Time is an important factor to consider in th e whole process. Decision making is therefore put on a timeline. Exploitation of knowledge is what defines innovation capability, utilization of knowledge in a particular technological field leads to the perfect execution of an idea. We will write a custom essay sample on Five Generation Models or any topic specifically for you Only $17.96 $11.86/page These two aspects combined effect is often underestimated and it may lead to the representation of different bases for the same delivering value. For example, telegraphy versus the telephone.