Nobody downloaded yet

Organization Innovation - Essay Example

Comments (0) Cite this document
Summary
“Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth” Peter DruckerOrganizations today are competing on a global platform and hence must rely on constant 'innovation' to sustain themselves in the fiercely competitive marketplace…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95.6% of users find it useful
Organization Innovation
Read TextPreview

Extract of sample
"Organization Innovation"

Download file to see previous pages “Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth” Peter DruckerOrganizations today are competing on a global platform and hence must rely on constant 'innovation' to sustain themselves in the fiercely competitive marketplace Innovation is by far one of the most critical tools of competency for firms and has been the key element in steering organizations towards unprecedented success (Jaruzelski & Dehoff, 2010). Technology has played a key role in helping organizations innovate and excel in the contemporary world - a fact which is evident from the meteoric rise of organizations such as Google and a range of social networking sites such as Facebook, Myspace and Twitter among many others.This paper on Organization Innovation, discusses the rise and successes achieved by Facebook Inc., an organization which has become the poster child for most of innovative organizations within the social networking domain in particular and as a pioneer of innovation for a host of other companies in general. It also discusses the various strategies used by the management to attain and maintain a creative advantage; the various external and internal factors affecting innovation, and finally concludes with recommendations which may help in enhancing innovative behavior in the company. Company Background: Overview Facebook is the largest social networking site in the world (NY Times, 2010) with as many as 750 million users, and counting, worldwide as of July 2011 (NY Times, 2011). The company was founded by Mark Zuckerberg, in February 2004 with the sole aim of offering a common platform for social interaction for college students at Harvard. However, through constant innovation, use of exciting new ideas and creativity, the site soon attracted various users which catapulted the company into an overnight sensation. The company's history shows a passion for constant innovation and the same is reaffirmed through its mission, which states that its only aim is "to make the world more open and connected". The popularity of the social networking site, continues to grow which is evident from the billions of dollars earned by way of ad revenues. Facebook is generating profits at a rapid rate. In 2010, Facebook Inc., earned approximately $1.86 billion through advertisements (PC Mag, 2011), a figure which is likely to grow substantially to $4 billion during the year 2011. Furthermore, on the basis of the current trend, it is also estimated that facebook is likely to surpass Google, its strongest competitor in advertising revenues (techcrunch, 2011). Facebook has revolutionized the social media scene, and has posed a threat to its rivals, particularly Google; a position achieved merely on the basis of constant innovation and innovative ideas. Intrapreneurial strategies used to attain and sustain competitive advantage: Intrapreneurship refers to the active involvement of organizational employees in the management of the company. It is a concept which is slightly different than corporate entrepreneruship. According to Hammann (2006), corporate entrepreneurship is defined with regard to the entire organization in question, while intrapreneurship is defined with regard to individual levels (Pinchot, 1987). This notion has been derived from the concept of indpendent entrepreneurship, whereby the employees are encouraged to think independently and create new ideas which add value to the final product. According to Hisrich & Peters (2002) it refers to the process of "creating something new with value by devoting the necessary time and effort, assuming the accompanying financial, psychic, and social risks, and receiving the resulting rewards of monetary and personal satisfaction and independence’. Facebook is a privately owned company, which follows the intrapreneurship style of management within its organizations. It allows and encourages its employees to ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Organization Innovation Essay Example | Topics and Well Written Essays - 2000 words”, n.d.)
Retrieved from https://studentshare.org/business/1429602-organization-innovation
(Organization Innovation Essay Example | Topics and Well Written Essays - 2000 Words)
https://studentshare.org/business/1429602-organization-innovation.
“Organization Innovation Essay Example | Topics and Well Written Essays - 2000 Words”, n.d. https://studentshare.org/business/1429602-organization-innovation.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Organization change and innovation
...of innovation; however, it is equally pertinent to endogenous hypotheses of financial development more commonly. The link between the selection of type and the presumption of organizational change can be made since every concept or point of view relies on a comparatively open analysis of the environment. As these links are formed, “implicitly a number of new areas of research on innovation are suggested” (Poole, 2000, p. 102). Structural Contingency Theory A steady demand caused the automatic organization, but an altering demand formed the requirement for an organic organization with its stress on innovation as well as flexibility. Many...
20 Pages(5000 words)Essay
ORGANIZATION LEVEL CREATIVITY/INNOVATION
...creativity and innovation. Creativity based on the review of related literature is considered as ability, while innovation is a process. Creativity is an ability that is solely found at the individual level, while innovation is a process of implementing creative ideas within an organization. According to McLean, innovation focuses on interrelationships, interactions and dynamics among key players and components of the organization and its associated environment. Furthermore, McLean tried to comment that the notable difference between creativity and innovation could have substantial implications in HRD scholars and how...
10 Pages(2500 words)Essay
Organization Innovation and change
...environment that have called for major changes in its internal structure ranging from remuneration policies to areas of investment. The extent of success of the responses or the innovation the company has undertaken will be discussed in later stages of the paper by exploring the different milestones achieved by the company. For example, BA remained profitable from during considerable period of last decade1, increased the overall passenger turnover over the period of time, while at the same time expanding into new markets. Hofstede points out that for an organization to realize maximum potential , the culture of its employee and environment must be taken in to account (Hofstede 2003). There are five major...
12 Pages(3000 words)Essay
Innovation in Organization
... Innovation in Organization Introduction Innovation is often referred to as a critical factor fuelling the growth of an organization (Afuah, 1998). Innovation also acts as a driver of future success and is the engine that facilitates business houses to maintain their viability in the global market (Verona and Ravasi, 2003). Both researchers as well as business managers deem innovation as “life-and-death matter for a firm” (Weiss, 2013). The extreme threat of competition and continued need to fight for survival fosters organizations to bring innovation into their system. Researchers from the field of business and management have found that organizations which have the capacity to innovate can respond at a much faster pace... to the...
16 Pages(4000 words)Essay
How is the Innovation impact in Starbucks organization
...Starbucks Innovation Starbucks has remained a top competitor in its industry, which is gourmet café-style coffee beverages. Caribou Coffee and Java Central are some industry competitors. Though the competitors also offer a variety of channels in which to purchase their products, Starbucks remains the industry leader. Innovative sales initiatives and store practices remain top priority for the organization. Layout for all new stores is developed on computer with software for cost estimating. This not only reduces costs for development, but also helps regional managers to keep costs of new locations below target figures. Planning of new Starbucks spaces down to the last...
2 Pages(500 words)Essay
Organization climate and innovation leadership
...of the global competition. One can therefore, conclude that the working within the organizational climate with well defined parameters and values promote and facilitate the organization to strive for its long term mission with short term goals and objectives. The HR department, through judicious approach of employing people and upgrading their skills to suit the changing business environment, becomes critical to creating congenial work atmosphere that motivates and inspires others to improve their performance and achieve organization’s goals with vision and innovation. As the Sjostrand and Tyrstrup reaffirm ‘leadership is all about managing creativity’ (2001). Reference Best, M.. (1990)....
4 Pages(1000 words)Essay
Creating an Innovation in the Organization
...Creating an Innovation in the Organization Highly competitive and aggressive organizations undertake strategic management decisions involving innovation. Majority of business practitioners have identified innovation as synonymous with new inventions and technological advancement. However, discerning organizations suit policy to changing demands of the environment. Global organizations encompass the application of competitive advantages and long-established strengths to unexplored segments of the market via innovations in strategies involving the product, service, process, technology, management...
9 Pages(2250 words)Essay
Is Apple Inc the Most Innovation Organization
...Identify an organisation that you consider to be innovative. Provide a brief introduction to your chosen organisation and its general industry context, and then justify your choice in the light of key innovation models, concepts and theory Table of Contents Introduction 2 Brief Introduction of Apple Inc 2 Industrial background of Apple Inc 2 Discussion 4 Apple Inc’s Innovation Approach 4 Product Strategy implemented by Apple Inc 6 Innovation through customer experience 7 Analysis 9 Is Apple Inc the most innovation organization? 9 Findings 10 Conclusion 11 References 13 Introduction Brief Introduction of Apple Inc Apple Inc is one of...
11 Pages(2750 words)Essay
W2 Disc Innovation Organization
...Innovation Organization: Week 2 Discussion al Affiliation Innovation Organization: Week 2 Discussion Innovation seems to be a commonly known term applied in various endeavors. White & Bruton (2011) considered Rubenstein’s definition of innovation as most appropriate, to wit: “the process whereby new and improved products, process, materials, and services are developed and transferred to a plant and/or market where they are appropriate” (p. 19). More importantly, managing innovation was emphasized requiring the encouragement of creativity and propensities for taking risks. An organization that has...
1 Pages(250 words)Essay
Understanding Innovation and Change in an Organization
...The capacity to adapt and manage to various organizational changes allows for essential abilities of required business response in the workplace today. Business innovation and change accrue benefits from diversity of personality and backgrounds filling different roles. This approach allows for application of change in the organization together with ways of monitoring and evaluating organizational structure (Harvard Business Review. 2013In situations where people within a given company have extreme innovation, free-spirit, as well as nonconformist elements, the firm lacks grounding and balance. A managerial perspective indicates that innovative employees are more involved...
6 Pages(1250 words)Coursework
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 Organization Innovation for FREE!
Contact Us