This website uses cookies to ensure you have the best experience. Learn more

Innovation Essay

4397 words - 18 pages

Introduction:Innovation is about coping with change, "which can take two forms - in the things which an organization offers, and change in the way in which they are created and delivered" (Tidd, 2001). As international competition intensifies and product life cycles shorten, the pressure to innovate heightens.Talking about innovation, there are usually two levels at which innovation take place: the inter-firm level and intra-firm level. Innovation that takes place at the inter-firm level is about the external factors which influence the firm's innovation attitude and behavior. The latter is about the innovation process within an organization. It is always concerned with the implementation of innovation.This paper consists of two separated parts. Part one is using the selected "diamand model" of Korean MEI cluster, to discuss the roles played by competitiveness and technology in shaping the scope of innovation. Part two is talking about the innovation process within an organization through the analysis of innovation climate in Microsoft Inc.Part one: Innovation Within a ClusterThe new literature has come increasingly to examine not only the innovation process within a firm but also inter-firm linkages and structures of the public and private sector context within which innovation flourishes or can be persuaded to flourish. Governments as well as firms must engage in a continuous process of learning and innovation to build and sustain competitiveness under conditions of dynamic industrial change. Industrial policy and technological development are linked via the concepts of innovation and competitiveness and the relationship between them.Diamond model:The cluster concept, created by Michael Porter, is a way of analysing the sources of international competitiveness of industries by understanding how a nation's attributes, both individually and as a system, constitute a 'diamond' of competitive advantage. The attributes are:a) Factor conditions - e.g. high level skills, related academic research;b) Demand conditions - e.g. local customers that specify products and services to world class levels;c) Related and supporting industries - e.g. suppliers that are innovative and work closely with their customer;d) Firm strategy, structure and rivalry - e.g. the way firms compete, or collaborate, the numbers and scale of companies in an area.A cluster is defined as a concentration of companies and industries in a geographic region that are interconnected by the markets they serve and the products they produce, as well as by the suppliers, trade associations and educational institutions with which they interact. A cluster is defined as a concentration of companies and industries in a geographic region that are interconnected by the markets they serve and the products they produce, as well as by the suppliers, trade associations and educational institutions with which they interact.The revitalization of Korean MEI cluster1. Background:Korean MEI is concentrated...

Find Another Essay On Innovation

Innovation & Change Essay

3750 words - 15 pages Innovation & ChangeIntroductionThe focus of this assignment looks at the nature of leadership and what effect it has on the ability of an organisation to be innovative. Appropriate Leadership and innovation theories and models will be used to answer the question of whether leadership is all an organisation needs to be innovative. First of all the meaning of leadership is looked at and discussed followed by a critical discussion of the role

Implementing innovation Essay

1567 words - 6 pages IntroductionNowadays with the technology, especially IT technology, development, the business environment is becoming more quickly changing, and the competition is becoming severer, business organization therefore must introduce appropriate innovation strategy. BMW, as a leading automobile producer, continuously concentrates on the innovation to meet customers' need. This essay discusses the innovation implementation in BMW through the analysis

Innovation economy

815 words - 3 pages Ans. 1) Innovation Economy is the latest and one of the most relevant doctrine of economics which places knowledge, innovation, technology and entrepreneurship at the forefront. Knowledge management is the key in Innovation Economics and higher productivity is ensured by making the right innovations to ensure optimum usage of all resources.Innovation economy is a marked shift from the industrial economy and involves a whole set of different

Innovation Process

1627 words - 7 pages Innovation Process Essay PAGE 1 RUNNING HEAD: INNOVATION PROCESSUniversity of PhoenixOI 461 - Innovation, Design and Creativity for a Competitive AdvantageKristyna Flowers, Brandon "Scott" Lewis, Donna Ray, Victoria Richardson, Tawanda TownsendInnovation Process EssayProfessor Charisse WoodleyMarch 19, 2009Creating and implementing a product or service for a new or existing organization is a process that requires patience, testing, feedback

Innovation Leadership

2015 words - 8 pages Innovation Leadership ProjectInnovation leadership ProjectDarlene LaBarreMBA6006 Foundational Skills for Business LeadersInnovation 8Capella on LineAbstractProcter and Gamble (P&G) was formed by William Procter a candle maker and James Gamble a soap marker on the 31st of October 1837. It is an American multination consumer good manufacture and one of the largest in the world. It manufactures products ranging from beauty and grooming, pet

IBM Innovation

4435 words - 18 pages products and its style in terms of manners of address both up and down the hierarchy, dress codes and formal procedures. Many of the artefacts of IBM gave the impression of a very formal culture 'says David Yaun'.David further explains during interview about organisational culture and innovation used by IBM and said that, a strict uniformed dress code was in place, with management wearing different colours from subordinates, and formal forms of address

product innovation

2982 words - 12 pages Marketing Principles PRODUCT INNOVATION AND PROMOTION PROJECT      Our assignment is to create and promote an innovative product. In developing a new product, we started with an idea generation. This is a systematic search for new-product ideas. Companies go through many ideas before they come to find some good ones. We had to do the same thing. We thought of many ideas on our own. It was more of an internal idea

The Innovation of Google

1038 words - 4 pages Innovation has been around for many years in different environments, for example the invention of the telephone or the first TV set. Innovation is an important area of study for many business leaders today. Business leaders are able to use innovation to be competitive. Innovation needs to be constantly monitored and researched in order for any business to remain competitive. “The trouble is that innovation involves a moving target-not only is

Role of Innovation

1564 words - 6 pages may do well under the new law."Nicoló MachiavelliDefinitionWhile many organizations accept that innovation is significant to their growth and success, the "innovation" term has various definitions:According to Yuri Ljuri and Robert Lawrence innovation has the following features;Innovation is1. product extension (same base product with slight modifications; identical product in a new segment),2. new platform product (net product from which

Innovation and Knowledge

2753 words - 11 pages For centuries now the subject of innovation has given ground for much discussion and debate. In its wider context economic historians and sociologists have theorised and argued its contribution to economic growth and society in general, nevertheless, many have termed innovation as the ‘engine of growth.’ Therefore, to appreciate the extent of benefit that innovation can offer business this introduction begins with some of these theories. Famous

Innovation, design, and creativity

577 words - 2 pages Innovation, design, and creativity:The terms innovation, design, and creativity are now common place in the business world, but how many people could truly define them? How do innovation, design, and creativity differ and how do they come together in order to bring new products to the marketplace or improve products or services that all ready exist?Dosi (1988) defines innovation as "the search for, and the discovery, experimentation, development

Similar Essays

Innovation Essay

582 words - 2 pages Innovation is defined as, “Introduction of a new idea into the marketplace in the form of a new product or service, or an improvement in organization or process (www.4hb.com).” Lockheed Martin strives to be at the forefront of innovative technologies. Since Lockheed functions as a primary source of information for the U.S. Government, several government agencies, as well as many foreign governments, it is critical to Lockheed Martin’s success

Innovation Essay

7435 words - 30 pages Engineering and Technology Management, 8 ( 1991 ) 67-83 Elsevier Towards a new theory of innovation management: A case study comparing Canon, Inc. and Apple Computer, Inc. Ikujiro Nonaka Institute of Business Research, Hitotsuhashi University, Kunitachi, Tokyo, Japan Martin Kenney Department of Applied Behavioral Sciences, University of California, Davis, CA 95616, USA Abstract This paper argues that innovation can be best understood as an

Innovation Essay

1881 words - 8 pages -and-bolts of everyday operations. As staff became more self-directed and responsible for more of the production process, management had less control over and knowledge about the daily nuts-and-bolts operations. They therefore became more dependent on their subordinates. Management needed to encourage upward Communications from lower levels and reward employees for innovation, reliability, proper judgement, knowledge, cooperation and initiative

Innovation Metrics Essay

989 words - 4 pages Comcast Corporation (Nasdaq: CMCSA), number 46 on the Fortune 500 list (Cacace, 2013), has a broad innovation program that would and likely does benefit from many of the metrics listed in Table 6.2 of Making innovation work (Davila, Epstein, & Shelton, Making innovation work: How to manage it, measure it and profit from it, 2013, p. 173). As a public company, stock price measures and sales and income are important measures of overall success