Thursday, May 2, 2019

Innovation and Change Research Paper Example | Topics and Well Written Essays - 4000 words

regeneration and Change - question Paper ExampleChange is often taking fall out in an organization based on the innovations in product, process or strategy. Radical and incremental innovations are usually taking place in the organisational demesne. Both radical and incremental innovations have the ability to cause huge changes in the organisational world. This paper analyses the importance of innovations and changes in the corporate world. Introduction harmonise to Bordia, et al (2005), Innovation is the ability to sterilize and develop stark naked products and services and deliver them to market. It is the fundamental source of value creation in companies and an most-valuable enabler of competitive advantage(Bordia, et al, 2005, p.1). On the other hand Anjani, & Dhanapal (2011) defined organisational Change as a multifaceted process which is much more complex than human behavior. In their opinion, individuals are prone to organizational changes and have a normal inclination to react in the same way towards the type of organizational changes (Anjani, & Dhanapal, 2011, p.103). In any case it is a fact that change is inevitable in work or organizational world since science and technology are advancing rapidly. Traditional business principles have assumption way for sophisticated business strategies as contention is growing day by day in the business sectors. In fact the whole concept of business has been changed from domestic circles to international circles as a result of globalization and liberalization. It is impossible for a prominent organization to think about doing business solitary(prenominal) in the domestic circles and survive in the market. As the market is getting increasingly globalized, competition from orthogonal players is growing day by day. Changes in business strategies become inevitable under the above context. Innovation triggers many changes in organizations. Many of the traditional business principles have given way for modern b usiness strategies as a result of the innovations in the organizational world. Structural, functional, managerial, cultural and strategic changes are taking place in modern organizations because of the rapid growth of innovation taking place in and around the organizations. Findings According to Susman et al., (2006) Innovation usually takes place based on products, processes and markets (e.g., new ways to serve customers (Susman et al., 2006, p.16). many battalion have the illusion that innovation means the development of new products alone. In fact the development of new processes and new business strategies are examples of innovation. Innovations based on products The story of Apple Company is the most relevant example to learn more about how well innovative products change the fortunes of a sick organization. In the 80s and 90s Apple struggled to survive in the market because of the heavy competition from arch rival Microsoft. However, during at the beginning of 2000, Apple bou nced back from the verge of destruction with the help of its innovative I series products such as ipod, iphones, ipad, imac, itouch, itunes etc. All these products provided new experiences to the consumers all over the world and many people started to visualize Apple as the most important technological company in the world. Pfizer is another company which used innovative products for the sustainment of their growth. For example, Viagra is a revolutionary product introduced by Pfizer to cater the needs of sexually impotent people. Pfizer

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