Innovation - Article Example

Innovation The technology of an industry never remains static; it is always to changes by introducing new methods of innovation among the existing techniques. All these technology innovations were usually designed by the manufacturers and implemented in their respective business processes. However, in modern organizations, users/consumers of technology are also allowed to participate in the innovation process. This represents a significant change from the producer-driven innovations methods, which have been prevalent for so many years.

Such user-designed technology innovation can generate significant benefits for the company. Earlier, when technology manufacturers solely used to introduce new technical processes, the end-users were restricted to the technical methods made available by the producers. Even, if the consumers wanted a new technical process, they could not be sure of its provision. Under the new set-up, the end-users themselves can design the technological innovation required by them. They do not have to depend on anybody else to provide them with their technical necessities.

This facility would definitely attract more end-users or consumers for the company, which in turn would increase their revenues. (von Hippel, 2002, p.2-6) 2. Under the new system of technological innovation, the company can include its customers into the product development process. The responsibility of designing a technological improvement is delegated only to the end-users of technology. The consumers, being a part of the company’s network framework, design new technical products and processes to serve their own requirements.

The consumers are also encouraged to share the information of these new designs with other fellow consumers. Thus, the company can provide a conducive environment for the free exchange of scientific ideas among its customers. In such a case, the end –users are able to access innovations built by their fellow consumers and may even want to use such a ne process for their own benefit. Thus, the customers are not even required to develop all their technological requirements by themselves. They are given the license to utilize a technical innovation developed by the other end-users for their own benefit.

In this way, a company can incorporate the end-users of technology into their product development process (von, Hippel, p.4-10). 3. The success of any commercial business in the modern world depends on how effectively it can market its products and services to its customers. This is true for a technology-based company as well. The success of a company’s marketing strategy is determined by its penetration of the market. In other words, a firm which shares a close relationship with its customers and is able to supply products and services to suit their requirements, can be guaranteed success in its business venture.

The company has to ensure that it simultaneously upgrades itself so that it is able to serve the varied requirements of its consumers. Therefore, the organization has to serve the twin purposes of innovating its technology production processes as well as maintaining and increasing its customer base to increase its profits. An excellent way to accomplish both these results is to include the consumers or the end-users into the innovation process and product development procedure of the company.

References 4. Feller, J. (2005) Perspectives on free and open source software, Massachusetts ,MIT Press 5. Hippel, Eric, von, (2002), Horizontal Innovation Networks – by and for users, MIT Sloan School of Management, 4366 – 02.