Innovation
Innovation is an important concept to understand as a manager and for an organisation as a whole. Used in the correct manner, innovation can give an organisation the competitive advantage they need to be a success in their market. Firstly, it is useful to look at innovation in general. Naylor (1999) says ‘innovations are ideas that are developed into new products or processes. They result in changes that customers recognise as new.’ Dess et al (2007) describes innovation as ‘using new knowledge to transform organisational processes or create commercially viable products and services.’ Put in even simpler terms, innovation is ‘the process of making improvements by introducing something new’ (http://en.wikipedia.org/wiki/Innovation). Therefore I believe the two words that sum innovation up are ‘process’ and ‘new’. Innovation is a process and there theories and models that I will evaluate in this essay. Innovation also has to be something new that an......
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Approximate Word Count: 2747
Approximate Pages: 11 (260 words per double-spaced page) |