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Research Methodology and Methods - Essay Example

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In this context, study will be undertaken through taking into consideration the example of 3M Company.
Overview of Innovation. Lager…
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Research Methodology and Methods
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Download file to see previous pages Additionally, in the context of business units, innovation is regarded to be the process that allows employees to implement new idea, develop dynamic product or rather make significant changes in existing working for the growth and succession of business.
According to Hana (2013) with the event of globalisation and advancement in technology the need for innovative activities, have increased for the sustainability of the organisation. Innovation is important to meet the changing demand of people and earn profitability. Additionally, it has been affirmed that in today’s competitive environment, an organisation can significantly gain the competitive advantage through stimulating its activities by implementing innovation strategies for future development. Moreover, with the increasing use of resources in the current scenario and its adverse impact over the environmental stability has significantly led organisations to contribute over the innovative activities. Furthermore, it is highlighted that innovation is not necessarily been regarded as the process of new scientific discovery rather it may also be arise from the application of existing technology based on new context . On the other hand, Betz (2011) highlighted that innovative technology and its management is organisational practice that allows the company to manage its overall business process. Furthermore, the innovation with the changing trend led the team members of organisation to have proper understanding of the ultimate goals and objectives of business units and avail the external and internal opportunities in deriving innovative new ideas, product or process (Betz, 2011). Additionally, in current business environment in order to maintain the sustainability and competitive advantage in long run, business organisation needs to be focused over the different activities that differentiate them from other business. Thus, the business organisation that focus over ...Download file to see next pagesRead More
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