How can product innovation help build competitive advantage for cosmetic firms in London Case Unilever - Essay Example

Comments (1) Cite this document
The aim of this paper is to analyse the level of research, development and product innovation that help the firm to build competitive advantage. Also the paper will attempt to address the primary question framed as follows: How to evaluate the level of technological innovation in an organisation?…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.8% of users find it useful
How can product innovation help build competitive advantage for cosmetic firms in London Case Unilever
Read TextPreview

Extract of sample
"How can product innovation help build competitive advantage for cosmetic firms in London Case Unilever"

Download file to see previous pages The researcher states that intense competition from globalisation, more sophisticated consumers from the fragmentation of markets, and constant changes in technology have forced the companies in the last two decades to focus on the process of product development. These three forces that lead to the process of product development also intensified competition between firms. According to Porter the process of product development is characterised by the continuing need to research new materials and introduction of innovations in their product lines. This fact can be considered an important factor to competitiveness in the sector. In this highly competitive and globalised world, according to Gerry and Whittington, companies have changed the way they conduct business. However, organisation must bring new ideas such as product innovation and management, which can be used as a tool to achieve higher productivity. The modern enterprise world is full of innovation that can help build competitive advantage. In virtually every field companies are faced with new products, new processes and new services which are available to the consumer market at a pace never seen before. The velocity of the transformations of the last decade is impressing even in the largest companies.To achieve a position of market leadership it is not the product quality that matters; product innovation is an essential ingredient to gain competitive advantage. Products, processes and services are the new aggregate values which generate advantages over competitors. Innovators have a considerable advantage over the other participants in various consumer markets. (Burgelman and Grove 2007). In the past decade, product innovation has been approached by many authors, scholars, businessmen and academics. Every business wants to be innovative, but they sometimes encounter obstacles and difficulties which block the path to product innovation. In trying to be innovative in the pursuit to gain competitive advantage, an organization can face several difficulties. For instance, there could be restriction of resources or they could have difficulties in implementing an environmental and an innovative organisational culture that emerge due to the resistance (Makari 2000). In addition, they may not reach a suitable level of innovation. The cosmetics industry includes the areas of personal care, perfumery and cosmetics. The cosmetics companies focus on product development to gain competitive advantage. The product development process, according to Gill and Johnson (2011), is characterised by the continuing need for research in new materials and introduction of innovations in its product lines. This fact can be considered an important factor to achieve competitiveness in the sector. There is heterogeneity in this industry, because of the presence of large international companies, diversified and specialised in the sector of cosmetics, is contrasted with a large number of small and medium-sized companies with operations focused in the production of cosmetics (Gill and Johnson 2011). According to Gerry and Whittington (2011) transnational corporations adopt strategies defined with respect to the development of new products by investing in specialised centres of research and development (R & D), in partnerships that are external and in management processes with structured knowledge. Small and medium sized businesses often lack the necessary capital to carry out research and development. They are apprehensive of investment or an economic-financial situation as they are aware of the risks inherent in new product development. Also, many of these companies do not have knowledge management essential for product development processes.. London predominantly has the presence of l ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“How can product innovation help build competitive advantage for Essay”, n.d.)
Retrieved de https://studentshare.org/business/1391193-how-can-product-innovation-help-build-competitive-advantage-for-cosmetic-firms-in-london-case-unilever
(How Can Product Innovation Help Build Competitive Advantage for Essay)
“How Can Product Innovation Help Build Competitive Advantage for Essay”, n.d. https://studentshare.org/business/1391193-how-can-product-innovation-help-build-competitive-advantage-for-cosmetic-firms-in-london-case-unilever.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
efay added comment 3 months ago
Student rated this paper as
This document saved me today. I liked the content. It was very useful for my business course.
Innovation and Competitive Advantage
Globalization of Innovation is the key for the production as well as processing of knowledge in an organization for last few decades. Indeed organizations ability to convert knowledge into wealth and social good through the process of innovation determines its future.
12 Pages(3000 words)Thesis
Marketing. Firms gain competitive advantage
Both FedEx and UPS use information technology recasting the process of management, providing powerful new capabilities to help managers strategize and plan, organize, lead, and control. Companies may decide not to automate, rationalize, or reengineer place functions, but logistics companies are forced to use the Internet and other technologies to conduct all their business, or a proprietary network.
6 Pages(1500 words)Case Study
Discuss how Market-Led Strategies can Help Business to Drive Growth and Sustain Competitive Advantage
Business managers are required to devise strategies focusing on the external marketing conditions that would in turn, help the company in achieving business growth in the region. Business managers can work in developing the attributes of the products or services through product development strategies or can focus on diversifying into other related business areas to help gain a larger market.
3 Pages(750 words)Essay
How Good Recruitment Practises Help the Organisation In Achieving a Competitive Advantage
Accordidng to the paper Human Resource is a part of an organization that is highly involved in all the decisions made by all different departments of a company. A company's strong point is built upon the eminence of its employees. In isolation, HR is in performance and has become increasingly important in businesses today.
12 Pages(3000 words)Essay
How firms gain competitive advantage in the changing business dynamics
The essay focuses on the needs of the firms that can give them sustainable performance and market edge. In the highly competitive market, firms need to leverage their competencies for competitive advantage. The various modules and mechanisms of evaluating and analyzing the performance metrics become highly critical factors for success of the firm.
13 Pages(3250 words)Essay
Critically examine how a firms HR strategy could be its source of competitive advantage
The companies have reaped success with an earnest effort and a desire to make it big within the comity of nations and that too on a constant basis. The resilience has been there
8 Pages(2000 words)Essay
Critically examine how a firms HR strategy could be its source of competitive advantage
However, outside of the regular business review and oversight is the necessity to create a quality human resources system which provides benefit to both the business and the employee. When a
10 Pages(2500 words)Essay
Critically discuss to what extent and how a Strategic HRM approach can help to create value and competitive advantage in an organisation
A company, during the course of its activities, will indulge into many kinds of management, be it be human resource management or public
8 Pages(2000 words)Essay
For a company of your choice, explain how operations management works together with the product technology/innovation and marketing functions to achieve competitive advantage
The operations management has taken several steps to place the company at an advantage over the competition. One of the approaches that McDonald’s adopted was a Kid’s gadget in their Happy Meals (Gubamn & Russel, 2006). The
2 Pages(500 words)Essay
Research and development, technological innovation, competitive advantage, etc
In addition, changing consumer needs and preferences necessitate continuous technological innovation on behalf of the company. Some of the
3 Pages(750 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic How can product innovation help build competitive advantage for cosmetic firms in London Case Unilever for FREE!
logo footer
Contact us:
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us