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.
Nobody downloaded yet

How might the innovation strategy of a service sector firm differ from that a manufacturing company And what particular issues - Essay Example

Comments (0) Cite this document
Innovation strategies and pertinent issues in the service sector Name Institutional affiliation Tutor Date Innovation strategies and pertinent issues in the service sector 1.0 Introduction The economic development of every country relies heavily on both the manufacturing and service sectors…
Download full paperFile format: .doc, available for editing
Polish This Essay95.7% of users find it useful
How might the innovation strategy of a service sector firm differ from that a manufacturing company And what particular issues
Read TextPreview

Extract of sample
"How might the innovation strategy of a service sector firm differ from that a manufacturing company And what particular issues"

Download file to see previous pages However, today, both sectors are increasingly borrowing from each other in order to offer consumers tailor-made services and products. Manufacturing companies are coming up with “servicisation” strategies for their goods, while service firms are engaging in the “productisation” of services (Cunningham, 2007, pp. 31). It is my opinion that despite this growing interrelationship between the manufacturing industry and the service sector, the use of R&D in the latter is not clearly defined and most R&D-related activities are not assessed. In my opinion, most studies have always placed the service sector second to the manufacturing industry in as far as innovation is concerned. However, this is an old-fashioned way of looking at the service sector. Today, the service sector employees more people around the globe, in comparison to those people in the manufacturing industry. Most of these employees are very educated people with the capacity to innovate new and redesign existing ones to ensure consumer satisfaction. Accordingly, this paper aims at analyzing how a service firm might use R&D as an innovation strategy, in order to cater for the needs of the consumer and ensure business growth. Secondly, the paper aims at evaluating how differently a manufacturing company might use the same R&D innovation strategy in the production of goods. The third aim in this paper concerns an examination of the particular issues that a service firm may be required to address when coming up with R&D as a key innovation strategy. Accordingly, the main objective is to demonstrate that the service sector can be as innovative as the manufacturing industry in the use of R&D. The other objective is to elucidate the positive correlation that exists between the consumer and the service provider in the service sector in consideration of R&D activities. 2.0 Innovation approach- service sector versus manufacturing company Innovation is a key driver in the growth of economic structures in both technologically advanced and third world countries. The service sector is becoming increasingly more crucial to economic development, and as such requires more innovation strategies to ensure the sustainability of global economic growth. According to Gallouj & Djellal (2010, pp. 301) most service innovation strategies involve redesigning existing services in response to new market needs and trends, while some strategies aim at coming up with entirely new services. One of the innovation strategies adopted by the service sector is the use of research and development (R&D) activities to identify and meet consumer needs. In the service sector, there are various sources of knowledge, with R&D being one of them. Baldwin & Gellatly (2003, pp. 130) state that research in previous decades revealed that the manufacturing industry was more likely than the service sector to use R&D as an innovation strategy. However, within the last two decades, the service sector has also begun to invest more in conducting R&D in order to meet consumer demands. According to the OECD (2005, pp. 143) between 1990 and 2001, R&D in the service sector increased at a 12 per cent rate in most developed countries. Service firms and manufacturing companies differ in their use of R&D as an innovation strategy, just as their products differ. In the manufacturing ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“How might the innovation strategy of a service sector firm differ from Essay”, n.d.)
How might the innovation strategy of a service sector firm differ from Essay. Retrieved from https://studentshare.org/management/1461740-how-might-the-innovation-strategy-of-a-service
(How Might the Innovation Strategy of a Service Sector Firm Differ from Essay)
How Might the Innovation Strategy of a Service Sector Firm Differ from Essay. https://studentshare.org/management/1461740-how-might-the-innovation-strategy-of-a-service.
“How Might the Innovation Strategy of a Service Sector Firm Differ from Essay”, n.d. https://studentshare.org/management/1461740-how-might-the-innovation-strategy-of-a-service.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
Effects of technology and innovation on Pret a manager
The processed data or the information is used for different application. The information helps to take decision regarding various subjects (Rajaraman, 2004, p.2). Information technology plays a pivotal role in all the segments of a business. IT has changed the way business is carried out (Bradshaw et al., n.d.).
20 Pages(5000 words)Essay
The decline of manufacturing sector in U.S.A. has been compensated by a growing service sector
This is a post-industrialization trend where people’s income continues to rise with less interest in investment in material processing.The current trend has been more investment or shift to health care, education, insurance and others.
3 Pages(750 words)Essay
Discuss the agency problem relating to multinational companies, and in particular multinational banks, and how, they differ from
n This paper is an ample discussion on the agency problem faced by both the multi-national as well as domestic companies, especially banks. The discussion will mainly be focused on the agency problems faced by multinational companies and their level of difference from those of the domestic companies.
8 Pages(2000 words)Essay
Discuss How Service Operations are Different from Manufacturing Operations
Such instituting mechanisms and methodologies to improve service delivery can be difficult due to their intangibility, heterogeneity and inseparability (Smith 2011). Unlike in manufacturing companies where there are several points to institute control that can rectify the process or test the quality of the product so that substandard products can be rejected before it reaches the customer, instituting control to improve and control the quality of service in service oriented companies can be very difficult and costly.
8 Pages(2000 words)Essay
Lucozade Company International Expansion
It is known as the cradle of Islamic faith, as it is where the prophet Mohammed was born. The people in this country have different cultural believes and practices which differ from those in England. However, there is similarity in the market forces, which determine the way a product will perform in the market.
10 Pages(2500 words)Essay
Innovation. Innovative techniques of a manufacturing company
The service sector deals with intangible goods, while the manufacturing sector deals with tangible goods. An example of a service is the delivery of mails, by Fed Ex Company (Chang, 2011).
3 Pages(750 words)Assignment
Business finance and legal service coursework(Write a report on the financial performance of a company in a particular sector)
The sector encountered a sharp reduction in the purchasing activities during 2012. Preference for reduced stock holding and a lower new order has led to a sharp cut in purchase activities. The deceleration in the manufacturing sector owes its root to the high rate of job shedding marked from July 2011 which was highest during 2012.
4 Pages(1000 words)Essay
Role of Universities in Research and Innovation
Research and innovation fosters the economic and social development of a country. According to the paper Research has been growing since the end of Second World War. Most firms participate in applied research because it can be marketed easily. This essay has been divided into subtopics: research system, research and knowledge economy, roles of universities in research and challenges facing research.
10 Pages(2500 words)Essay
Service Sector Growth
These include core research and development activities which are called as renewal services, while those that contribute to maintenance and management of sub systems such as accounting are known as routine services. Network services include those that facilitate communications, exchange of knowledge and flexibility in resource allocation.
10 Pages(2500 words)Essay
Innovation / innovation management (firm, sector, country, or specific process)
This paper offers a research proposal to investigate relative significance of factors that influence innovation management. The proposed research question seeks to answer a problem in managerial decision making in innovation processes. This is because it
2 Pages(500 words)Essay
Let us find you another Essay on topic How might the innovation strategy of a service sector firm differ from that a manufacturing company And what particular issues for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us