Innovation article review - Essay Example

In today’s era, the economy is bound by the strings of technology and advancements. Every field of work is to inconsistency as it faces encroachment and development. To keep pace with these aspects of the economy, the businesses are supposed to be race along the grounds of innovation to achieve their goals and aims, ultimately their success. The article written by Scott Anthony also revolves around innovation and its strategies. Anthony discusses that the conundrum we are facing today requires the companies to build an “Innovation Factory.

” This factory would work upon crafting the strategies, implementing them, creating an innovation structure, and investing in innovation systems.The foremost step in the process of designing the innovation strategies requires outlining the targets and goals of the company. To apprehend what the company’s core constitutes of. To realize the type of business they are working in and sketch their strategic plans according to that.The next step that comprises of implementing the innovation process, calls for a rigorous scan of the market opportunities.

The companies should turn to their best and the worst customers. Then they should analyze that percentile of the public that is not attracted to their products at all. The barriers constraining that part of population should be evaluated. And the problems they are facing should act as the blue prints for the innovation process.In reference to the hindrances and obstacles, ideas are to be generated and an innovation structure is to be built upon them. The structure should define the strategic goals, training programs, internal coaches, and growth boards, while innovative incubators and capital ventures could spread the ideas to a commercial level.

Finally the last step asks for investments in innovative systems. A number of myriad systems consist of: Portfolio planning mechanisms, facilitating critical resource-allocation decisions, market insight processes human resource policies, innovation-friendly measurement systems and many more.The author of the article provides meticulous arguments in relation to innovation and its strategies. He also provided detailed information about the all the structures and different systems that entail investments.

He is also able to bring consistency to the article, to an extent in the way he carries out the whole innovation process step-by-step and how he outlines the path of innovation by dividing it into four steps and explaining them fully. Also he gives examples of companies or experiments according to the topic under discussion. For example, when he was talking about the core of the business he stated a few lines from the lecture of a professor of Harvard. Who said that the companies were not even aware of the type of industry they were working in?

On the other hand to say that the article was of a standardized professional work, would be taking it too far. The author did cover important points regarding the innovation process but the article lacked the touch of an expert. In the end of his article, the explanation of innovation systems does not imply clarity nor is the reader able to understand what the author is pointing towards.Thus, if an expert ever gets to read this article, he may find it vague and at times a little of the topic.

The method of elucidating might not appeal to him either. But the article does endow a sound study about innovation. It will allow him to get enlightened of the basic steps of the innovation process. The points those are important to keep in mind when implementing the innovative strategies: About, how the aims are to be achieved? Which part of the market is to be targeted? How the problems should act as the platform for innovation rather than the success earned by the business.The article cannot be a subject to any kind of controversy or debate.

Because the issues he has put a light upon have been repeatedly discussed by various other writers and entrepreneurs. His implementation techniques, the strategies, how to create an innovation structure are the key points that any entrepreneur or innovator is aware of. Thus, they agree.The article, all in all, is informative for people seeking guidance about innovation and how it affects our economy. The methods and ways they should adopt. How they should direct their innovation plans towards the path of success.

What are the basic things they should keep in mind when they are on this road? But I would not suggest it to someone who is seeking guidance. The points highlighted in this article have been mentioned repeatedly before by many people. Other than this, the writing style of the writer does not appeal to the mind at all. It is difficult to comprehend what the writer is trying to say. It is complex and the mind does not grasp it quickly.It would not harm the reader to read the article for the theory of achieving modernization is not against the society or economy.

But due to its difficult writing style and the difficulty in comprehension, the article is not enjoyable to read. Thus, I would suggest the readers that there are a lot of other researches and books that could provide enhanced and augmented information about innovation.