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The crux of it, says Soumonni, is that those who want to manage innovation will need to know how it can be most effectively deployed to solve business, industry and societal problems at the right cost and in the right way.
Soumonni says to ensure competitiveness, firms have to innovate enough to ensure parity in the exchange of goods and services with other firms and with respect to international trade. “You have to do your part so that you don't get the short end of the stick. It's intrinsically about value in goods and services.”
The objective will determine the relevant form of innovation and the scale at which the organisation such as a business enterprise or pertinent state agency will address it. On WBS’s focus on teaching innovation management, Soumonni cites an example in the telecommunications sector. “From an innovation perspective, we are just as interested in what is required to manufacture the equipment, develop broadband technologies and build mobile phones, as we are in market penetration, low-cost internet access and digitisation in the workplace.”
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