The Role of Knowledge Management in Supporting a Radical Innovation Project

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Abstract

This chapter discusses the role Knowledge Management plays in the management of a radical innovation project. A radical innovation produces a fundamental change in the activities of a company [1]. A company’s capacity to innovate is dependent on its capability to integrate internal processes and to understand the larger market and technological environment [2]. Knowledge Management supports a company’s efforts to understand its internal and external environments. A method for managing a radical innovation project is presented. This method, called the Innovation Implementation Method (IIM) consists of a high-level structure and seven supporting concepts. This chapter highlights the aspects of the IIM which promote Knowledge Management and explains how each aspect supports the successful implementation of a radical innovation. The chapter ends with an overview of a case study in the insurance industry, where the IIM was used to implement a radical innovation project.