The Essence of Innovation and Change - Essay Example

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. In any case, innovation demands more than the conventional process of seeking to better operations in the organization through improved methods. It transcends all the sectors of the organization including management, operations and other support areas in the organization. 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 innovation. Such organizations normally experiment with different ideas meant for totally different settings. Lifting an idea from one setting and putting it into action in a totally different environment might always prove quite detrimental to the organization. It is therefore important to stress the fact that open innovation has to be used very cautiously considering the challenges that might be realized in the process. The module was very elucidative in shedding light on the important need for developing a strategy for the innovation process of the organization. Indeed, innovation strategy is the core elements that steers the innovation process in the organization. Without a proper strategy in place, it becomes very difficult to realize any positive change courtesy of innovation in the organization (Burns & Stalker, 1999). Most successful organizations like FedEx have always developed very effective innovation strategies which have enabled their innovations to succeed in the market (Basch, 2003). Nevertheless, the module failed to underscore the fact that innovation is normally most successful in certain sectors than in others. In most cases, innovation processes are characterized with organizations that deal with contemporary issues like technology and communication. It is therefore much easier to notice and measure the innovation outcomes of Apple than those of organizations dealing with other uncommon issues in life. Therefore to successfully measure the success of innovation in an organization, it is important to look into the various aspects of the organization including its operations, employee motivation and customer satisfaction other than merely focusing on the amount of transformations realized from the output of the organization (Shehabuddeen, 2007). It is leant that innovation is driven by the market trends and the expectations of the consumers with respect to environmental changes. It is therefore upon the innovation strategists to monitor such changes and develop products and services that can effectively benefit the consumers. Developing these products and services is normally the core essence of innovation. However, the development of innovation process requires a lot of expertise and sufficient knowledge in these areas. The challenge arises out of the fact that such knowledge and expertise is very difficult and expensive to acquire. Moreover, there is no single innovation strategy that can be used to drive the innovation process of all organizations. It is therefore upon the organizations to develop and exercise their own innovation strategies that can drive the innovation process. Disruptive innovation was seen as a very important factor in the innovation process of most organizations. Disruptive innovation has been mostly realized in the technology sectors where products that were initially regarded as underdogs in the market have become giants and overtaken the original market leaders. In most cases, organization can effectively use disruptive innovation as a strategic way to enter some markets that are dominated by big players. Through such a process, it is possible to develop a product that can easily sail through the market without facing a lot of competition as always realized. Indeed, organizations can benefit greatly from the concept of disruptive innovation in order to survive in the market. In the same way, new market players can effectively enter the market through the use or disruptive innovation whereby products are developed to counter some of the existing brands in the market. The module highlighted the challenge normally realized in the measurement of the success of innovation. Indeed, measuring the success of any innovation process is normally a challenge in the organization. This challenge arises out of the intangible nature of some of the products of innovation and the fact that some of the goals of innovation like increased revenue are normally functions of other factors other than innovation. The success of an innovation process is therefore normally measured against the investments in the process. Such investments include both financial and other intangible inputs into the process. It is often realized that organizations run their innovation programs unprofitably due to the lack of proper innovation measurement metrics that can effectively inform the organization on the performance of their innovation strategies (Chang, 2011). However, through research and development programs, it is becoming much possible to monitor the success of innovation programs and gauge their success and performance against their costs of inputs. This knowledge is very important to both students and managers in charge of the innovation process in organizations. However, much research is still needed in the measurement of the success of innovation in organizations in order to easily determine and justify whether organizations should continue with their innovation programs or cease and develop other programs (Porter, 2008). Basically, the whole concept behind innovation lies in the proper management of ideas within an organization. The module was very elaborate in highlighting the role of proper idea management process within an organization. This arises out of the fact that innovation emerges out of ideas generated within and outside the organization which if managed properly can enable the organization to improve its operational process and hence succeed effectively in the market (Hill, 2010). These ideas normally originate within the organization from the employees or from outside the organization. Stakeholders such as customers and competitors are normally great sources of ideas for most organizations. Successful organizations like FedEx have managed to inculcate a culture of innovation within them thereby making the employees very innovative in their operations in the organization (Birla, 2005). Therefore, the concept of idea management is a very important instrument that can effectively help organizations to manage their innovation processes without much limitations realized in the process. The module is therefore a great source of relevant information with respect to the important factor of innovation and its management. It is therefore important to emphasize that the module is a very important source of knowledge and information on the important area of innovation which has become much relevant for the success of present organizations. Without doubt, the core areas of innovation are very important as factors through which organizations can develop and mange their innovation strategies without many challenges. Therefore the module is much important as it should be encouraged. References Basch, M. D, (2003), Customer culture how FedEx and other great companies put the customer first every day, Upper Saddle River, NJ: Financial Times, Prentice Hall, Pearson Education. Birla, M. (2005). FedEx delivers: how the world's leading shipping company keeps innovating and outperforming the competition. Hoboken, N.J.: John Wiley & Sons. Burns, T, & Stalker, G. M. (1999), The management of innovation, London: Tavistock Publications. Chang, C.M. (2011) ‘The creation of novel and marketable service ideas’, International Journal of Innovation and Technology Management, 8 (1), pp, 113-133. Cooper, R.G. & Edgett, S.J. (2010) ‘Developing a product innovation and technology strategy for your business’, Research Technology Management Hill, C. (2010), Strategic management theory: an integrated approach (9th ed.). Mason, OH: South-Western/Cengage Learning. Porter, M.E. (2008) ‘The five competitive forces that shape strategy’, Harvard Business Review,86 (1), pp. 78-93, Business Shehabuddeen, N. (2007) Innovation in real life: a hands-on guide to genuine innovation. Liverpool: Open Innovation. Read More