Nobody downloaded yet

Innovation Process Design - Essay Example

Comments (0) Cite this document
Summary
Introduction A tough competition is everywhere around the globe. This means employment of challenging activities on the part of companies or organizations that are aiming to compete and achieve their competitive advantage. One essential move is go for innovation…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.1% of users find it useful
Innovation Process Design
Read TextPreview

Extract of sample "Innovation Process Design"

Download file to see previous pages Key Components of Theories Innovation is a common way for companies today to initiate in order for them to reach a specific competitive advantage (Weerawardena & Mavondo, 2011). In order to achieve this, many firms are trying to establish the point that they need to ensure execution of strategies that are competitive enough to provide them the competitive edge over the other established firms in their industry or specific niche (Salunke, Weerawardena & McColl-Kennedy, 2011). In many technological-related companies, innovation has become the major point of their business, because that is one of the substantial ways by which they can compete and even set among themselves a cutting edge advantage over the other competitors to ensure a smooth flow of their operation or achieve a potential market share. At the most specific level, firms that are into innovation or are risks lovers are expected to provide unique product or service offerings (Cucculelli & Ermini, 2013). In this way, they can offer highly differentiated product or service offerings that matter to people. Many technological-based firms today from time to time have to produce offerings that are new to the market for the target segments to try and they remarkably eliminate old products in order to introduce success or opportunity for the new ones. This is common to take place in the mobile phone industry where old models will have to be phased out and leave a path for new products and gain from them. Establishing a new product or a unique one is therefore a form of strategy that a firm must embrace. Strategic business innovation is therefore one of the ultimate moves of technological-based companies today. They want to set a new way for them to be able to provide something that is new that matters a lot to their target market. In doing so, a clear business plan must be associated with the goal to innovate. Innovation is not just a simple process, but a complex one that it requires the most appropriate business model. Prior to the emancipation of this business model, every firm that wishes to go for innovation will therefore have to set a clear business plan for themselves. In this way, they can be guided on what to do next especially in cases when there is a need to involve the right plans. Business plans are integral components of a successful innovation process. After all, it requires substantial planning moments prior to the actual innovation process. These plans need to be considered because they fuel the essential growth or development of the organization as far as the concept of innovation is concerned. Innovation therefore is a forward approach that positively aims for advancement and growth (Colombelli, Haned & Le Bas, 2013). Anything that hinders this growth will have to be remarkably considered a contradictory approach against innovation. The backward approach might have to consider plans, actions or initiatives that are to produce backward results. In this case, no innovation will be necessary, because innovation as a process of growth development requires more engaged idea to embrace something new or fresh ideas for future enhancement of the business. In this regard, proper orientation of the company concerning their evaluation process is necessary or required because such move will have to ensure the emancipation of the right program or actions to be taken into account. Concerning actions that are allowing companies to move forward with ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Innovation Process Design Essay Example | Topics and Well Written Essays - 1750 words”, n.d.)
Innovation Process Design Essay Example | Topics and Well Written Essays - 1750 words. Retrieved from https://studentshare.org/management/1492625-innovation-process-design
(Innovation Process Design Essay Example | Topics and Well Written Essays - 1750 Words)
Innovation Process Design Essay Example | Topics and Well Written Essays - 1750 Words. https://studentshare.org/management/1492625-innovation-process-design.
“Innovation Process Design Essay Example | Topics and Well Written Essays - 1750 Words”, n.d. https://studentshare.org/management/1492625-innovation-process-design.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Innovation Process Design

Marketing Design and Innovation

...?Marketing Design and Innovation Table of Contents 0.Introduction 3 2.0.Synthesis and Review of Literatures 4 2 Change in terms of Style 5 2.2.Change in terms of Fashion and Customer Preferences 7 2.3.Patents and Licences 8 2.4.The Case of Sony 9 3.0.Analysis 12 4.0.Conclusion 15 References 16 Bibliography 19 1.0. Introduction With the affect of globalisation, the international market witnessed a continuous change and development in the characteristics of multiple products and services. This change can be strongly identified in the case of television. For instance, when television was first introduced in the market, it was run with a spinning disc to produce a shadowy image. In other words, it was just a...
12 Pages(3000 words)Dissertation

Marketing Design and Innovation

...?Table of Contents Table of Contents 1.0. Introduction 2 2.0. Synthesis and Review of Literature 2 2 Stylistic Change towards Insurance 2 2.2. Changes in Customers’ Taste, Need and Fashion 4 2.3. Patents and Licenses 5 2.4. The Case Study of Max New York Life Insurance 7 3.0. Analysis 9 3.1. Innovation from a Marketing Perspective 9 3.2. Nature and Importance of Design and Innovation in Insurance 10 3.3. Organisational Theory 12 4.0. Conclusion 16 References 17 Bibliography 22 1.0. Introduction In the current financial dispensation, insurance has captured centre stage of the world troubled financial economy, and has shown impressive growth worldwide. Influence of insurance on the business industry provides a clear indication... provides an...
12 Pages(3000 words)Dissertation

Marketing Design and Innovation

...? Marketing design and innovation (Management Report) Introduction The success of international marketing strategies strongly relates to the ways in which companies design and promote their products. Any errors in designing products to meet customer requirements and evolving market trends can lead to failure in capturing market shares and loss in revenues for the companies. The international environment provides the organization with the scope of marketing products to both local and foreign markets. Multiple strategies are adopted by companies to promote their products to these markets either through standardization of products launched in both local and foreign markets...
8 Pages(2000 words)Essay

Design Process

...? Case Study, Computer sciences and Information technology Case Study, Computer sciences and Information technology A good design requires good and accurate thinking in order to create a good system. Creating designs involve making decisive choices that are user oriented. Software engineering or development is a creative field that may require the use of prototypes to inform the designer during the design process. Prototypes help inform the design process and enables designers see mistakes before the final project is delivered to the client. Interactive systems design is essential in...
4 Pages(1000 words)Case Study

Innovation and Design Management

...focusing on households .The tooth brush is designed to attract all the gender and ages. It is observed that there has been a drastic increase in the usage of power operated toothbrushes as the customers prefer to swift from traditional tooth brush which is operated manually. This justifies that there is scope of attractive and developing market for the innovative design of Lazy -Dizzy tooth brush. Phased Market Plan and Promotion If the initial launch was successful in UK, then Introduce a pilot scheme involving market research in other International Markets at a gradual phase. Target customers for the pilot scheme will be people who require easy, time saving solutions in their daily...
3 Pages(750 words)Case Study

Company Innovation Process

...will be of creating an operation conditions for the concept to become physical and live. One must utilize here the ability, knowledge, experience and talent of not only the project managers but also, as much as possible, of every individual in the unit, to the maximum. This exploitation of human talent would be vital as far as the steady and consistent launch of new products by Motorola is concerned. A quick determination of the manufacturability of the design would be critical in the developing session of the innovation process. The high volume of competition along with the struggle to achieve success, one is often forced to promote maximum variety and advancement. This tendency...
4 Pages(1000 words)Case Study

Design entrepreneurship-business innovation

...Design Entrepreneurship-Business Innovation Introduction: We were a group of four formed to assess our capacities for group function and leadership.As with any new group and task, members of the group had their individual perspectives on the manner in which to proceed towards the needed objectives that had been set for us. Naturally this led to discordant efforts, as each member tried in their own way to move the group in their preferred direction. This lack of organisation only meant that there was no forward movement in the required direction towards that which needed to be achieved, only more bantering and arguments with the louder voices having a larger say but the group remained unconvinced. In short chaos ruled and the area... Entreprene...
4 Pages(1000 words)Essay

Innovation and Process Paper

...Innovation and Process Paper INNOVATION AND PROCESS PAPER Introduction Innovation plays a vital role in the success of any organization. As per the Business dictionary, “Innovation is the process by which an idea is transformed into services or goods that people are willing to purchase” (2012). In order for innovation to drive success in any organization, it has to produce results. The first phase of an effective innovation process is the identification and segmentation of its customer base. This is advised by the fact that not all customers are the same. Organizations, therefore, need to select their target customer groups with specific messages developed especially for them. It is also important that the organization understands... ....
2 Pages(500 words)Research Paper

Marketing Design Innovation

...Marketing Design Innovation Table of Contents Task 3 Benefits and Value Derived by the or s or Recipients 3 Uniqueness of Design Elements – Shape, Colour, Design, Imagination, Relevance And Usefulness 5 Brand Appeal In Relation To Competitors in Contemporary Markets 7 Task 2 9 Summary of the Journey Discovered Through the Module, Learning Outcomes and Challenges Faced 9 References 13 Task 1 Benefits and Value Derived by the Clients or Customers or Recipients Diet Coke is one of the best carbonated drinks, which provide by The Coca-Cola Company to its customers. It has been viewed that after the introduction of Diet Coke into the market, there has been a huge demand for...
12 Pages(3000 words)Assignment

Design innovation in textile

...Design refers to the creation or development of a convention or plan for purposes of constructing an object, e.g. engineering drawings, circuit diagrams, architectural blue prints, sewing patterns, etc. This concept of design has various connotations, in different disciplines,. For example, the direct construction of a substance can also be referred to as design. This is in the field of engineering, pottery, graphic design. Atkinson (2010) explains that an individual responsible for designing is always called a designer. It is a concept, or term that is used to describe people working professionally in the various fields of...
10 Pages(2500 words)Literature review
sponsored ads
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.

Let us find you another Essay on topic Innovation Process Design for FREE!

Contact Us