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Crucial Role Of Innovation In Competitive Success

2630 words - 11 pages

Innovation has become widely recognized as a key to competitive success (Francis & Bessant, 2005). Scholars are mainly concerned with innovation because of the life requirements and the persistent desire for continuous change to be in accordance with individuals' needs and desires (Badawy, 1993). Developments in all aspects of life are attributed to innovation. Peter Ducker, one of the administration scholars, says that innovation is one of the main forces in economic and social development and a basic tool in the growing, resistance and adaptability of the contemporary organizations with the changing environmental conditions as those organizations with no innovation will shortly remove (Drucker, 1995). Leaders of businesses of all sizes and from all industries make innovation among their top priorities and concerns (Scantlebury & Lawton, 2007).

Innovation is recently considered as a key factor for achieving sustainable competitive advantages and, by extension, for the success of businesses in the market (Cooper & Kleinschmidt, 1987; Damanpour & Evan, 1984; Damanpour & Gopalakrishnan, 2001; Damanpour et al., 1989; Hitt et al., 1997; Kleinschmidt & Cooper, 1991; Rogers, 1983; Subramanian & Nilakanta, 1996). The main reason is that innovative firms are more flexible and have a greater capacity to adapt to changes. This can protect them when the climate is unstable, they can respond faster to changes, create new opportunities and exploit existing ones to a greater extent than the competition (Drucker, 1985; Miles & Snow, 1978). In the age of the knowledge and economy, the rapidly The successful changes occurring in the contemporary organizations environment are based in essence on the human source that is one of the main assets in the organizations (Holden,1999). Thus, concepts such as invention, innovation, empowerment, knowledge and quality are of the higher administration priorities. Attention is focused on human skills and how to develop them, on self obligation and how to be enforced, on how to encourage innovation directed towards quality and intellectual richness. This is why attention is directed towards initiatives presented by the individuals to realize the creative organizations properties. As a result, administration studies focus on new issues like knowledge creation and management, strategic learning and how to be employed to support and encourage creativity. In addition, empowerment is used as a strategy to urge the individuals to use their potential powers. All this occurs within the concepts of new administrative concepts like total quality management, knowledge management, invention and innovation management and empowerment management. (Gary A. Y. and Wendy S. B. , ,2006)
Innovation in the developed countries has become activity practiced by all the pioneer organizations supervised by specialized sections to provide the suitable environment to support and encourage innovation to reach the creative solutions for the problem...

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