SEP5848 - Integrated Innovation and Technology Management (2019)

The series of changes that a living thing goes through from the beginning of its life until death.

The length of time that something lasts or can be used.

https://dictionary.cambridge.org/dictionary/english/life-cycle

1. General: Concept that compares the cyclical nature of families, organizations, processes, products, and systems with the cradle to grave life stages (birth, growth, maturity, decay, and death) of living organisms.
2. Ecological impact: Stages in the life of a material or product from resource extraction through processing, manufacturing, use, and disposal or recycling.
3. Marketing: Pattern of demand for a good or service from introduction, growth, stagnation, and decline.

Read more: http://www.businessdictionary.com/definition/life-cycle.html

The business life cycle is the progression of a business and its phases over time, and is most commonly divided into five stages: launch, growth, shake-out, maturity, and decline.

https://corporatefinanceinstitute.com/resources/knowledge/finance/business-life-cycle/

a way of doing something, especially a systematic way; implies an orderly logical arrangement (usually in steps)

http://wordnetweb.princeton.edu/perl/webwn?s=method&sub=Search+WordNet&o2=&o0=1&o8=1&o1=1&o7=&o5=&o9=&o6=&o3=&o4=&h=

a set of methods used in a particular area of study or activity

https://dictionary.cambridge.org/dictionary/english/methodology

Model is a way of reality representation. 

Based on Gestão de Desenvolvimento de Produtos 

"A model is a useful representation of some subject. It is a [...] abstraction of a reality [...] expressed in terms os some formalism [...]" Vernadat (1996 p. 24)

Open Innovation is the use of purposive inflows and outflows of knowledge to accelerate internal innovation, and expand the markets for external use of innovation, respectively (CHESBROUGH, H. Open Innovation: a New Paradigm for Understanding Industrial Innovation. In: Open Innovation: Researching a New Paradigm p.1)

Operational capability is a high-level routine (or collection of routines) that, together with its implementing input flows, confers upon an organization's management a set of decision options for producing significant outputs of a particular type (Winter, 2000)

An occasion or situation that makes it possible to do something that you want to do or have to do, or the possibility of doing something.

https://dictionary.cambridge.org/dictionary/english/opportunity

A time or set of circumstances that makes it possible to do something.

https://www.lexico.com/en/definition/opportunity

Exploitable set of circumstances with uncertain outcome, requiring commitment of resources and involving exposure to risk.

Read more: http://www.businessdictionary.com/definition/opportunity.html

Ordinary capabilities involve the performance of administrative, operational, and governance-related functions that are (technically) necessary to accomplish tasks.

Teece, D. J. (2014). The foundations of enterprise performance: Dynamic and ordinary capabilities in an (economic) theory of firms. Academy of management perspectives, 28(4), 328-352.

Ordinary capabilities are like best practices. They typically start in one or two companies and spread to the entire industry.

https://www.strategy-business.com/article/00225?gko=32b8d

Practice is a pattern/a customary way of operation or behavior.

http://wordnetweb.princeton.edu/perl/webwn?s=practice&sub=Search+WordNet&o2=&o0=1&o8=1&o1=1&o7=&o5=&o9=&o6=&o3=&o4=&h=

Best practice -> a working method or set of working methods that is officially accepted as being the best to use in a particular business or industry, usually described formally and in detail

https://dictionary.cambridge.org/dictionary/english/best-practice

A method or technique that has consistently shown results superior to those achieved with other means, and that is used as a benchmark. See also best in class and leading practice.

Read more: http://www.businessdictionary.com/definition/best-practice.html

"The manner in which work is performed, which is less formal than a methodology, is not required, and is typically based on preferences or recommended conventions or approaches." PMI (2017)

Practices  are defined as routinized activities, concepts, routines, tools, or processes that provide structure for everyday doings and activities in organizations. (Kohtamäki et al. 2018, p.10)