Innovation and ontologies

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Innovation requires both rational problem-solving and interpretive flexibility, presenting a challenge for innovation management, particularly in the early stages. Ontologies, as logical knowledge representations, may offer a solution by balancing structure and flexibility, thus enhancing corporate innovation processes. During the Fuzzy Front End of innovation management, decision-making is often characterized by uncertainty and intuition, leading to inadequate idea comparison, excessive risks, and delayed project terminations. This situation highlights the need for a generic framework for early-stage innovation management. Ontologies, with their powerful modeling capabilities, have been developed by AI researchers and are increasingly used in online business-to-business solutions. The semantic web also relies on ontologies, which are noted for their flexibility and adaptability, making them suitable for broader business applications. Existing examples in HR and knowledge management demonstrate the potential benefits of corporate ontologies, suggesting that they could significantly improve decision-making and innovation processes within organizations.