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In the paper “New Knowledge and Innovation of RLK Media” the author provides the case where the CEO of RLK was given an ultimatum as the company was not doing well. The research and development department wanted more time to launch something innovative…
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New Knowledge and Innovation of RLK Media
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Download file to see previous pages These challenges can easily be overcome if outsourcing is taken as a tool to meet the corporate goals. It should be aligned with the company’s missions and then it can help to create more value from the same internal resources of the company. Besides, the company gains on time and benefits from the added knowledge of the new partner. Synergies also generate new knowledge and innovation is enhanced. The CEO has to convince the technical head of the benefits and involve him in every step of the decision-making process. This is necessary because the middle management tends to feel insecure when outsourcing decisions are taken. Outsourcing the R&D is the best option for the company and this will reap benefits.
In the competitive marketplace, it is important not just to be innovative, but to be ahead of the competitors. This implies that RLK Media cannot afford to wait 18 months for their new product launch. Besides, the research and development department cannot even give assurance that their new product would be what the consumers want. Stagnancy in an organization can cost it much more than the executives realize. The old products may be good but no more appealing to the consumers. They always seek something fresh and new. The problem in the organization is a strategic issue which has risen due to the difference between the two departments. Irrespective of the way that the CEO handles the issue, the bottom line has to be achieved. The technical department wants 18 months and adds to their R&D team, to bring the company back on the track but the Chairman thinks that the company is already losing its brand image of brilliant innovation in high-end consumer electronics. A company cannot sustain for long on its brand equity and something needs to be done urgently. The CEO has to take an immediate decision to bring about a turnaround or bare the consequences.
Managing activities internal to the firm is not sufficient.  ...Download file to see next pagesRead More
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