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The Innovation Of Google Essay

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 there competition amongst players in the game but also the overall context in which the game is played out keeps shifting”, (Tidd & Bessant, 2009) Organisations should need have a suitable strategic innovation plan in place to remain competitive. According to Freeman and Soete, 1997 innovation is “the first commercial application or production of a new process or product”, (Smith, 2006) Innovation can be closely identified as the invention of a new product. However this is not the only type of innovation. There are others which include: Radical, Incremental, Process and systems innovation.
Innovation can be a process that has been redesigned to improve performance on a good or a service. This is known as incremental innovation. “Incremental innovation is general understood to exploit existing forms or technologies”,(Harvard business school press,2003)Intel`s Pentium processors over recent years are a good example of incremental innovation. Organisations use research and development laboratories to create new incremental innovations. Toyota has been able to use such labs to build and create new car manufacturing processes. Innovation in one of the world leading car manufacturers has been a vital part of the organisations success. “However, fewer people know that Toyota began with a strong sprit of innovation when engineers had no choice to be innovative” (Morgan & Liker, 2006) Innovation strategy varies from business to business and there is no one simple formula that all businesses can adopt. “Because innovation so complex, market/resource interactions so numerous, no single road to success will apply to all companies at all times in all markets”, (West, 1992). This does not mean firms should move away from the subject. It does mean businesses need to design appropriate innovation strategies for their business model. Business leaders need to also manage their innovation strategy accordingly to changes in the market. Failure to do so will allow the other businesses to win more market share through simply being competitive. Business leaders need to think strategically to look at external factors when making new innovation strategies.

Innovation has been closely related to a firm’s ability to also be creative. “In fact creativity is an essential building block for innovation”, (Stamm, 2008) Creativity then is another element off being innovative. Business leaders then can drive innovation in order to be effective in the market they operate in. If business leaders can install a strategy in a firm...

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