Innovation and Technology Management - Essay Example

Compared to recent decades, the current business environment has become highly dynamic and unpredictable. It has customers that are highly demanding and operate in a highly competitive environment. In order to counter these challenges, businesses have been developing new products and services the offer better experiences for its respective consumers. It is important to realize that the success of a business depends on a multiplicity of factors, besides human resource management, technology and innovations (Kleinman 2009, 13).

This paper examines the importance of innovation and technology in businesses with emphasis on how these two processes have influenced the success of Apple, a company that has been known for its success in the design and sale of various consumer technologies. Businesses are started with an aim of achieving the set goals and objectives. In this case, the owners and managers have to be creative and devise strategies that can enable them to produce and distribute their goods to their identified markets in the most effective way.

Many successful businesses in the world have been founded on carefully developed strategies and approaches that understand the market needs of the people. One of the ways of managing this is having a market research, which is essential in providing information on competitor strategies and the various ways in which the business can satisfy the needs of its market (Thompson 2008, 65). Developing market-oriented products and services is important for the business in order to avoid wastages in the production and distribution of its goods and services.

Human resource management is critical in the success of businesses since, it empowers human capital in the business to develop policies and strategies to increase the business’ competitive advantage and market position. Human resource management involves the processes concerned with recruitment, hiring and development of business employees to make it