Innovation Management as a Chaotic System in Organisations

The forces of globalization, financialization and commoditization are rapidly changing the global business landscape. We are in an age where companies are struggling to reinvent their strategies. The focus is increasingly shifting to a new competitive advantage known as innovation. Innovation is agreed to be a process by which an idea or an invention can be translated into a good or service for which people will pay. To qualify as an innovation the idea must be replicable at an economical cost and must satisfy a specific need. Industrial revolution marked the beginning of modern day innovations in organizations. Lastly, the innovation management program should also have a deterministic or order either through a structure or process so that new products can come out in a time and resource bound manner. Through a case study approach the objectives of this research have been a) to study innovation management process that is practiced in a real time organizational environment (Samsung Electronics and Biocon). b) to study how innovation management follows the underlying properties of a chaotic system with respect to organisations and c) to study the elements of “Order” and “Disorder” in the innovation management program in organization. Open ended interviews were also conducted with some of the senior executives of Samsung Electronics and Biocon. Both the organizations belong to sectors (technology and pharma biotech) where over the years the intensity of R&D spending have been highest as compared to other sectors.