Innovation and Change - Essay Example

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Name: University Course: Instructor: Date: Innovation and Change Indeed, the contents of this module have been very stimulating and have been a great source of relevant knowledge on the important field of innovation and its support areas. Certainly, innovation is becoming a very integral component of modern business operations and this creates the need for much analysis and understanding of its core areas…
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Download file to see previous pages It is therefore very important that knowledge on these important areas is effectively imparted on the people working for organizations and beyond. As such, this module has been a great source of very relevant knowledge and information on some of the contemporary issues that characterize innovation practices across the world. As realized in the readings, the essence of innovation is basically to provide efficient means and ways through which operations in the organization can be bettered. In the same way, innovation is normally geared towards increasing the productivity of the organization through improved production methods and efficiency. It was learnt that a very important aspect in the innovation process involves sourcing for the innovative ideas. In this regard, organizations are encouraged to develop a culture of innovation within the organization through inculcating the imperatives of innovation on the minds of the employees (Cooper & Edgett, 2010). Indeed, employees are the greatest assets any organization can effectively use to improve its innovation processes. It was realized that some of the greatest organizations like FedEx and Apple have successfully managed to become market leaders in their respective areas of operation courtesy of innovation. These organizations realized the importance of innovation from an early age and thereby developed very elaborate innovation infrastructure within them. As such, a culture of innovation is very essential in creating the positive change that is much important in the present competitive business environment. However, in addressing the sources of innovation in the organization, it becomes important to realize that some of the assumptions in the module might not always reflect the real picture on the ground. Creating an innovative culture within a particular organization is not really an easy undertaking. In order to create a culture of innovation within an organization, a lot of time is actually needed coupled with sufficient financial resources to invest in the innovation process. In any case, the realization of these needs is normally high for most organizations. It therefore implies that smaller organizations might find it much difficult to compete against much bigger organizations which can effectively funds their innovation processes. Without doubt, the success of any innovation process depends upon the proper implementation of the innovation strategy for the organization. The module also highlighted the concept of open innovation and how it can benefit organizations aspiring to benefit from innovation processes. Open innovation is normally the practice whereby organizations are encouraged to go beyond their borders and seek ideas for innovation from other organizations. Indeed, the imperatives of open innovation cannot be overemphasized. The process is very critical as a great source of ideas for organizations operating in very competitive environments. Knowledge never exists in isolation. The growth of innovative knowledge therefore depends upon that sharing and developing of other innovative ideas from outside the organization. However, despite the seemingly important role of open innovation as captured in the module, it is realized that some organizations have always failed in their innovation processes through the aspect of open innovatio ...Download file to see next pagesRead More
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