Innovation is really about how we can continue to remain relevant and competitive in the marketplace so that we can do whatever it is that our organizations trying to do. The creative process is what generates the new ideas but it’s innovation that takes those new ideas into practice and adds value to the organization (Keeley, 2002). It is how you stay currently as a company. It is how you continuously improve as a company and if you are interested in staying current and continuing to improve you have to innovate. In here I discussed two different company innovation model Amazon and Apple. Amazon based whole innovation strategy on constantly disrupting the sales and deliver channel. Which are just a one part of business model of a company. They started by disrupting channel for the book market. Instead of going library to buy and pick up your physical books, you would order them online get them delivered by post directly to your home. That was channel innovation. Amazon kept doing this ever since by selling more and more product through online. As we see above Amazon is mainly innovating one single area sales and deliver channel. Similarly, Apple doing the same another area of business model which is the revenue model, If we go back to CDs era we need to pay big amount of money for whole Album if we like few songs only on it then some time later Apple came to with iTunes and disruptive this market by along people to pay each song individually that was first massive revenue model for the music industry. Similarly, Apple is mainly innovating another area of the business model is revenue model. The business innovation and revolution are starts from mid of 17th century. In 1784 there was a first industrial revolution and many mechanical instrument and manufacturing business process was innovated. Similarly, in 1870 the division of Human resource, power or electricity and mass production of product was innovated. Similarly, in 1969 there was a big revolution in electronic system and computer and Internet. In current situation every human capital is replaced by Robot and AI system (Ndesaulwa, 2016). So that digital business, advancing technology, transporting and telecommunication main production would be cheaper, better and faster so when we develop any product in a cheaper, better and faster way then we call it as innovation in business process.
Customer has a problem, if we address those problem as a faster, better and cheaper ways then we called it is innovation in business process. Basically the technology based company are more innovative than others. Like Google, Facebook, Microsoft, UBER are more innovative product or service. Similarly, Coca-Cola is also an innovative product, the automatic vending machine is unique innovation for Coca-Cola but manufacturing process of Coca Cola is not innovative. So I can say that innovation is defined as the progression of captivating new ideas to a position of investing something new or an innovative model of doing things (Teece, 2010).
References
Keeley, L. (2002). Inspiring Innovation : Abandon the Crowd . Harverd Business Review .
Ndesaulwa, A. (2016). The Impact of Technology and Innovation (Technovation). Journal of Business and Management Sciences, Vol. 4, No. 1 , 7 - 11.
Teece, D. (2010). Business Models, Business Strategy and Innovation. International Journal of Strategic Management, ELSEVIER , 4-7.
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Innovation is really about how we can continue to remain relevant and competitive in the marketplace so that we can do whatever it is that our organizations trying to do. The creative process is what generates the new ideas but it’s innovation that takes those new ideas into practice and adds value to the organization (Keeley, 2002). It is how you stay currently as a company. It is how you continuously improve as a company and if you are interested in staying current and continuing to improve you have to innovate. In here I discussed two different company innovation model Amazon and Apple. Amazon based whole innovation strategy on constantly disrupting the sales and deliver channel. Which are just a one part of business model of a company. They started by disrupting channel for the book market. Instead of going library to buy and pick up your physical books, you would order them online get them delivered by post directly to your home. That was channel innovation. Amazon kept doing this ever since by selling more and more product through online. As we see above Amazon is mainly innovating one single area sales and deliver channel. Similarly, Apple doing the same another area of business model which is the revenue model, If we go back to CDs era we need to pay big amount of money for whole Album if we like few songs only on it then some time later Apple came to with iTunes and disruptive this market by along people to pay each song individually that was first massive revenue model for the music industry. Similarly, Apple is mainly innovating another area of the business model is revenue model. The business innovation and revolution are starts from mid of 17th century. In 1784 there was a first industrial revolution and many mechanical instrument and manufacturing business process was innovated. Similarly, in 1870 the division of Human resource, power or electricity and mass production of product was innovated. Similarly, in 1969 there was a big revolution in electronic system and computer and Internet. In current situation every human capital is replaced by Robot and AI system (Ndesaulwa, 2016). So that digital business, advancing technology, transporting and telecommunication main production would be cheaper, better and faster so when we develop any product in a cheaper, better and faster way then we call it as innovation in business process.
Customer has a problem, if we address those problem as a faster, better and cheaper ways then we called it is innovation in business process. Basically the technology based company are more innovative than others. Like Google, Facebook, Microsoft, UBER are more innovative product or service. Similarly, Coca-Cola is also an innovative product, the automatic vending machine is unique innovation for Coca-Cola but manufacturing process of Coca Cola is not innovative. So I can say that innovation is defined as the progression of captivating new ideas to a position of investing something new or an innovative model of doing things (Teece, 2010).
References
Keeley, L. (2002). Inspiring Innovation : Abandon the Crowd . Harverd Business Review .
Ndesaulwa, A. (2016). The Impact of Technology and Innovation (Technovation). Journal of Business and Management Sciences, Vol. 4, No. 1 , 7 - 11.
Teece, D. (2010). Business Models, Business Strategy and Innovation. International Journal of Strategic Management, ELSEVIER , 4-7.