The Role of Serendipity in the Innovation Management Cycle
The Role of Serendipity in the Innovation Management Cycle

Summary/Abstract: 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 au-thor presents an overview and analysis of factors that stimulate the processes leading to the emergence of inno-vations and circumstances that inf luence marketing suc-cess. 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 mar-ket recognition? For years, scientists have asked them-selves to what extent chance generates innovation. Chance is the simplest and the easiest source of innovation. It is, however, challenging to determine when chance trans-forms 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.

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