The Role of Serendipity in the Innovation Management Cycle

This paper describes the importance of “lucky chance” in innovations and the marketing of inventions. It addresses the essence and role of models for managing innovation, using authentic examples of marketed products. The author presents an overview and analysis of factors that stimulate the processes leading to the emergence of innovations and circumstances that influence marketing success. When does an ‘invention’ become a ‘product’? How do we identify the thin red line separating the effects of strokes of genius from inventions that never gained market recognition? For years, scientists have asked themselves to what extent chance generates innovation. Chance is the simplest and the easiest source of innovation. It is, however, challenging to determine when chance transforms from being a mere ‘irritating disorganisation’ and turns into a business opportunity. In all likelihood, there is no unequivocal answer to any of the above questions; however, it does not mean that such answers should not be sought.